Badger Meter (NYSE:BMI) Trading 5.6% Higher Following Better-Than-Expected Earnings

Badger Meter, Inc. (NYSE:BMI) traded up 5.6% on Thursday following a better than expected earnings announcement. The company traded as high as $199.95 and last traded at $194.24. 46,703 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 202,186 shares. The stock had previously closed at $183.90.

The scientific and technical instruments company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.22. The firm had revenue of $222.21 million for the quarter, compared to analyst estimates of $220.39 million. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. During the same quarter in the previous year, the firm posted $0.99 EPS.

Badger Meter Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Friday, February 28th. Badger Meter’s payout ratio is 32.15%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank of Canada started coverage on Badger Meter in a research report on Thursday, March 27th. They set an “outperform” rating and a $251.00 target price for the company. Maxim Group boosted their target price on shares of Badger Meter from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Badger Meter from $209.00 to $196.00 and set a “hold” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $222.60.

Insider Activity

In related news, VP William R. A. Bergum sold 2,416 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $210.33, for a total value of $508,157.28. Following the completion of the sale, the vice president now owns 14,199 shares of the company’s stock, valued at $2,986,475.67. This trade represents a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kenneth Bockhorst sold 16,073 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total value of $3,371,151.02. Following the transaction, the chief executive officer now directly owns 34,961 shares in the company, valued at approximately $7,332,720.14. This represents a 31.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,949 shares of company stock worth $4,398,407. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Badger Meter

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMI. Cardinal Capital Management boosted its stake in shares of Badger Meter by 1.3% in the 1st quarter. Cardinal Capital Management now owns 22,296 shares of the scientific and technical instruments company’s stock valued at $4,242,000 after purchasing an additional 287 shares during the last quarter. Mission Wealth Management LP boosted its stake in Badger Meter by 4.5% in the first quarter. Mission Wealth Management LP now owns 5,076 shares of the scientific and technical instruments company’s stock valued at $966,000 after acquiring an additional 219 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Badger Meter by 5.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,233 shares of the scientific and technical instruments company’s stock worth $3,659,000 after acquiring an additional 991 shares during the period. apricus wealth LLC raised its position in shares of Badger Meter by 60.1% during the 1st quarter. apricus wealth LLC now owns 1,654 shares of the scientific and technical instruments company’s stock valued at $315,000 after acquiring an additional 621 shares during the last quarter. Finally, Donaldson Capital Management LLC lifted its stake in shares of Badger Meter by 12.6% in the 1st quarter. Donaldson Capital Management LLC now owns 16,359 shares of the scientific and technical instruments company’s stock valued at $3,112,000 after purchasing an additional 1,830 shares during the period. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Stock Performance

The company has a 50-day moving average price of $198.55 and a 200-day moving average price of $210.23. The firm has a market capitalization of $5.94 billion, a P/E ratio of 47.72, a price-to-earnings-growth ratio of 3.89 and a beta of 0.84.

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.