Badger Meter (NYSE:BMI) Releases Earnings Results, Misses Estimates By $0.03 EPS

Badger Meter (NYSE:BMI) released its quarterly earnings results on Thursday. The scientific and technical instruments company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03), Briefing.com reports. The business had revenue of $208.44 million for 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%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share.

Badger Meter Price Performance

BMI stock opened at $207.66 on Friday. The firm 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 two-hundred day moving average is $195.07. 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 issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.65%. This is a boost from Badger Meter’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, August 23rd. Badger Meter’s dividend payout ratio (DPR) is 39.19%.

Insider Buying and Selling at Badger Meter

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

Institutional Investors Weigh In On Badger Meter

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in Badger Meter by 1,016.7% in the 3rd quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock valued at $44,000 after purchasing an additional 183 shares in the last quarter. Bessemer Group Inc. raised its position in 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 valued at $80,000 after purchasing an additional 474 shares in the last quarter. GAMMA Investing LLC raised its position in Badger Meter by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock valued at $93,000 after purchasing an additional 158 shares in the last quarter. CWM LLC raised its position in Badger Meter by 40.9% in the 2nd quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 167 shares in the last quarter. Finally, Annex Advisory Services LLC acquired a new stake in shares of Badger Meter during the 3rd quarter worth about $204,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.