Badger Meter (NYSE:BMI) Shares Gap Down Following Weak Earnings

Badger Meter, Inc. (NYSE:BMI)’s stock price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $219.77, but opened at $201.76. Badger Meter shares last traded at $199.77, with a volume of 62,979 shares traded.

The scientific and technical instruments company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The firm had revenue of $208.44 million during the quarter, compared to analysts’ expectations of $212.08 million. Badger Meter had a return on equity of 21.42% and a net margin of 14.44%. Badger Meter’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share.

Badger Meter Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.34 per share. The ex-dividend date was Friday, August 23rd. This is an increase from Badger Meter’s previous quarterly dividend of $0.27. This represents a $1.36 annualized dividend and a dividend yield of 0.65%. Badger Meter’s dividend payout ratio (DPR) is 39.19%.

Analysts Set New Price Targets

Several equities analysts recently commented on BMI shares. Maxim Group increased their target price on shares of Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird raised their target price on shares of Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a report on Friday. Argus raised 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 downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus increased their price objective on 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $214.75.

Insider Buying and Selling

In other Badger Meter news, VP Kimberly K. Stoll sold 1,097 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $205.00, for a total transaction of $224,885.00. Following the transaction, the vice president now owns 3,861 shares in the company, valued at approximately $791,505. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is owned by insiders.

Institutional Trading of Badger Meter

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its holdings in Badger Meter by 1,016.7% in the third quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock worth $44,000 after purchasing an additional 183 shares during the period. Bessemer Group Inc. grew its stake in shares of Badger Meter by 2,633.3% in the 1st quarter. Bessemer Group Inc. now owns 492 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 474 shares during the last quarter. GAMMA Investing LLC increased its position in Badger Meter by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock valued at $93,000 after buying an additional 158 shares in the last quarter. CWM LLC increased its position in Badger Meter by 40.9% during the 2nd quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 167 shares in the last quarter. Finally, Annex Advisory Services LLC bought a new stake in Badger Meter in the third quarter worth $204,000. Institutional investors own 89.01% of the company’s stock.

Badger Meter Price Performance

The business has a 50 day moving average price of $209.57 and a 200 day moving average price of $194.81. The stock has a market capitalization of $6.11 billion, a PE ratio of 59.89, a PEG ratio of 3.07 and a beta of 0.77.

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.