Badger Meter (NYSE:BMI) Sets New 12-Month High on Strong Earnings

Badger Meter, Inc. (NYSE:BMI) shares reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $174.88 and last traded at $171.21, with a volume of 85084 shares. The stock had previously closed at $153.00.

The scientific and technical instruments company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.82 by $0.17. Badger Meter had a return on equity of 19.07% and a net margin of 13.16%. The firm had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $182.25 million. During the same period in the previous year, the firm posted $0.66 EPS. Badger Meter’s revenue for the quarter was up 23.7% on a year-over-year basis.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors 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 payout ratio is 34.39%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, VP Fred J. Begale sold 1,203 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was 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 directly owns 2,181 shares of the company’s stock, valued at approximately $355,328.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP William R. A. Bergum sold 194 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $159.55, for a total value of $30,952.70. Following the completion of the sale, the vice president now directly owns 13,672 shares of the company’s stock, valued at approximately $2,181,367.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Fred J. Begale sold 1,203 shares of the business’s stock in a transaction dated 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 directly owns 2,181 shares of the company’s stock, valued at $355,328.52. The disclosure for this sale can be found here. In the last three months, insiders sold 2,813 shares of company stock valued at $448,167. Insiders own 0.80% of the company’s stock.

Institutional Trading of Badger Meter

Several institutional investors and hedge funds have recently made changes to their positions in BMI. Frazier Financial Advisors LLC purchased a new stake in Badger Meter during the 4th quarter valued at approximately $31,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Badger Meter during the 4th quarter valued at approximately $33,000. Asset Management One Co. Ltd. purchased a new stake in Badger Meter during the 3rd quarter valued at approximately $35,000. GAMMA Investing LLC purchased a new stake in Badger Meter during the 4th quarter valued at approximately $40,000. Finally, Planned Solutions Inc. purchased a new stake in Badger Meter during the 4th quarter valued at approximately $45,000. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Trading Down 1.0 %

The company has a 50 day simple moving average of $157.41 and a 200 day simple moving average of $150.56. The stock has a market capitalization of $5.19 billion, a PE ratio of 56.27, a P/E/G ratio of 3.52 and a beta of 0.86.

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.