Badger Meter (NYSE:BMI) Posts Earnings Results, Misses Expectations By $0.03 EPS

Badger Meter (NYSE:BMI) released its earnings results on Thursday. The scientific and technical instruments company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03), Briefing.com reports. The firm had revenue of $208.44 million during the quarter, compared to analyst estimates of $212.08 million. Badger Meter had a net margin of 14.44% and a return on equity of 21.42%. Badger Meter’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share.

Badger Meter Stock Performance

NYSE BMI traded up $1.71 during mid-day trading on Friday, reaching $207.66. 454,914 shares of the stock were exchanged, compared to its average volume of 178,872. The company has a market capitalization of $6.10 billion, a P/E ratio of 59.84, a P/E/G ratio of 3.07 and a beta of 0.77. The business’s 50 day moving average is $209.57 and its 200-day moving average is $194.81. Badger Meter has a 1 year low of $134.06 and a 1 year high of $230.76.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a $0.34 dividend. This is a boost from Badger Meter’s previous quarterly dividend of $0.27. This represents a $1.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, August 23rd. Badger Meter’s payout ratio is currently 39.19%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Maxim Group boosted their price target on Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Friday. Argus increased their price target on shares of Badger Meter from $204.00 to $218.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. StockNews.com cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird increased their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Stifel Nicolaus raised their target price on shares of Badger Meter from $189.00 to $203.00 and gave the stock a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $214.75.

Insider Buying and Selling at Badger Meter

In other news, VP Kimberly K. Stoll sold 1,097 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $205.00, for a total transaction of $224,885.00. Following the sale, the vice president now directly owns 3,861 shares of the company’s stock, valued at $791,505. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Badger Meter by 0.6% during the first quarter. Vanguard Group Inc. now owns 3,674,493 shares of the scientific and technical instruments company’s stock worth $594,570,000 after acquiring an additional 22,707 shares during the period. Quadrature Capital Ltd purchased a new position in Badger Meter in the 4th quarter valued at about $1,069,000. Hennion & Walsh Asset Management Inc. lifted its stake in Badger Meter by 15.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 22,636 shares of the scientific and technical instruments company’s stock valued at $4,218,000 after buying an additional 2,964 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Badger Meter in the 1st quarter worth about $4,369,000. Finally, State Board of Administration of Florida Retirement System increased its stake in Badger Meter by 33.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,540 shares of the scientific and technical instruments company’s stock worth $1,867,000 after buying an additional 2,888 shares in the last quarter. 89.01% of the stock is 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.