Badger Meter (NYSE:BMI) Trading Up 6.5% Following Better-Than-Expected Earnings

Badger Meter, Inc. (NYSE:BMI)’s share price was up 6.5% during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $193.06 and last traded at $188.85. Approximately 158,368 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 299,527 shares. The stock had previously closed at $177.35.

The scientific and technical instruments company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $235.65 million during the quarter, compared to analysts’ expectations of $231.88 million. Badger Meter had a net margin of 15.40% and a return on equity of 21.62%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS.

Badger Meter Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This is an increase from Badger Meter’s previous quarterly dividend of $0.34. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Badger Meter’s dividend payout ratio is currently 34.86%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BMI shares. JPMorgan Chase & Co. started coverage on shares of Badger Meter in a research report on Tuesday, September 9th. They set an “overweight” rating and a $230.00 price target on the stock. Royal Bank Of Canada set a $229.00 target price on shares of Badger Meter and gave the stock an “outperform” rating in a research note on Wednesday. Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Robert W. Baird set a $205.00 price objective on Badger Meter and gave the company a “neutral” rating in a report on Monday. Finally, Stifel Nicolaus raised Badger Meter from a “hold” rating to a “buy” rating and increased their price objective for the company from $208.00 to $215.00 in a report on Wednesday. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.33.

Institutional Investors Weigh In On Badger Meter

Several hedge funds have recently modified their holdings of BMI. Brighton Jones LLC acquired a new stake in Badger Meter in the fourth quarter valued at $227,000. GAMMA Investing LLC lifted its holdings in Badger Meter by 11.8% in the first quarter. GAMMA Investing LLC now owns 878 shares of the scientific and technical instruments company’s stock valued at $167,000 after acquiring an additional 93 shares during the period. SG Americas Securities LLC acquired a new stake in Badger Meter in the first quarter valued at $369,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Badger Meter by 5.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,233 shares of the scientific and technical instruments company’s stock valued at $3,659,000 after acquiring an additional 991 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Badger Meter by 46.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,396 shares of the scientific and technical instruments company’s stock valued at $456,000 after acquiring an additional 761 shares during the period. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Stock Up 3.1%

The business has a fifty day simple moving average of $180.62 and a 200 day simple moving average of $208.45. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 38.89, a P/E/G ratio of 3.14 and a beta of 0.90.

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.