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

Badger Meter (NYSE:BMI) released its earnings results on Thursday. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.17, Briefing.com reports. The company had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $182.25 million. Badger Meter had a net margin of 13.81% and a return on equity of 20.26%. Badger Meter’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS.

Badger Meter Price Performance

Badger Meter stock opened at $176.68 on Friday. The firm has a 50-day moving average of $157.94 and a two-hundred day moving average of $150.80. Badger Meter has a 1 year low of $126.66 and a 1 year high of $181.00. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 50.92, a price-to-earnings-growth ratio of 4.11 and a beta of 0.86.

Badger Meter Announces Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on BMI shares. StockNews.com upgraded shares of Badger Meter from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird boosted their target price on shares of Badger Meter from $151.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday. Maxim Group boosted their target price on shares of Badger Meter from $190.00 to $207.00 and gave the stock a “buy” rating in a report on Friday. Northcoast Research upgraded shares of Badger Meter from a “sell” rating to a “neutral” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Badger Meter from $147.00 to $175.00 and gave the stock a “hold” rating in a report on Friday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Badger Meter currently has a consensus rating of “Hold” and a consensus target price of $162.50.

Insider Transactions at Badger Meter

In other news, VP Fred J. Begale sold 1,203 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $162.92, for a total value of $195,992.76. Following the completion of the sale, the vice president now owns 2,181 shares of the company’s stock, valued at approximately $355,328.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP William R. A. Bergum sold 194 shares of the stock in a transaction 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 sale, the vice president now directly owns 13,672 shares of the company’s stock, valued at $2,181,367.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Fred J. Begale sold 1,203 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $162.92, for a total transaction of $195,992.76. Following the transaction, the vice president now directly owns 2,181 shares in the company, valued at $355,328.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,813 shares of company stock valued at $448,167. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Badger Meter

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMI. Point72 Europe London LLP purchased a new position in shares of Badger Meter in the fourth quarter worth about $231,000. Jane Street Group LLC acquired a new stake in Badger Meter during the first quarter worth about $230,000. Tower Research Capital LLC TRC increased its position in Badger Meter by 73.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,557 shares of the scientific and technical instruments company’s stock worth $230,000 after purchasing an additional 661 shares during the last quarter. MML Investors Services LLC acquired a new stake in Badger Meter during the second quarter worth about $220,000. Finally, Franklin Resources Inc. acquired a new stake in Badger Meter during the fourth quarter worth about $205,000. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Company Profile

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.