Badger Meter (NYSE:BMI) Posts Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Badger Meter (NYSE:BMI) posted its quarterly earnings data on Thursday. The scientific and technical instruments company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.17, Briefing.com reports. The company had revenue of $196.80 million for the quarter, compared to the consensus estimate of $182.25 million. Badger Meter had a net margin of 13.81% and a return on equity of 20.26%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS.

Badger Meter Trading Down 1.0 %

Shares of Badger Meter stock opened at $176.78 on Friday. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 50.92, a P/E/G ratio of 4.11 and a beta of 0.86. Badger Meter has a 1-year low of $126.66 and a 1-year high of $181.00. The firm’s 50-day moving average price is $157.94 and its two-hundred day moving average price is $150.80.

Badger Meter Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.27 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.08 annualized dividend and a yield of 0.61%. Badger Meter’s dividend payout ratio is 31.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Northcoast Research raised shares of Badger Meter from a “sell” rating to a “neutral” rating in a research note on Thursday. StockNews.com raised shares of Badger Meter from a “hold” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus upped their target price on shares of Badger Meter from $147.00 to $175.00 and gave the company a “hold” rating in a research note on Friday. Maxim Group upped their target price on shares of Badger Meter from $190.00 to $207.00 and gave the company a “buy” rating in a research note on Friday. Finally, Robert W. Baird upped their price objective on shares of Badger Meter from $151.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $162.50.

Insider Transactions at Badger Meter

In other news, VP William R. A. Bergum sold 1,416 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $156.23, for a total transaction of $221,221.68. Following the transaction, the vice president now directly owns 13,422 shares in the company, valued at $2,096,919.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP William R. A. Bergum sold 194 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $159.55, for a total transaction of $30,952.70. Following the transaction, the vice president now directly owns 13,672 shares in the company, valued at $2,181,367.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William R. A. Bergum sold 1,416 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $156.23, for a total transaction of $221,221.68. Following the transaction, the vice president now owns 13,422 shares in the company, valued at $2,096,919.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,813 shares of company stock worth $448,167. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Badger Meter

A number of large investors have recently modified their holdings of the stock. Point72 Europe London LLP acquired a new position in Badger Meter in the fourth quarter valued at approximately $231,000. Jane Street Group LLC acquired a new position in Badger Meter in the first quarter valued at approximately $230,000. Tower Research Capital LLC TRC lifted its holdings in Badger Meter by 73.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,557 shares of the scientific and technical instruments company’s stock valued at $230,000 after buying an additional 661 shares during the period. MML Investors Services LLC acquired a new position in Badger Meter in the second quarter valued at approximately $220,000. Finally, Franklin Resources Inc. acquired a new position in Badger Meter in the fourth quarter valued at approximately $205,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.