Badger Meter (NYSE:BMI) Shares Gap Up Following Earnings Beat

Badger Meter, Inc. (NYSE:BMI) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $208.58, but opened at $216.59. Badger Meter shares last traded at $212.34, with a volume of 22,217 shares changing hands.

The scientific and technical instruments company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Badger Meter had a net margin of 14.80% and a return on equity of 21.56%.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Friday, November 22nd. Badger Meter’s payout ratio is currently 33.75%.

Analyst Upgrades and Downgrades

BMI has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Badger Meter from $203.00 to $208.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird upped their price target on shares of Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Maxim Group upped their price target on shares of Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $216.00.

Institutional Investors Weigh In On Badger Meter

Several institutional investors have recently bought and sold shares of BMI. R Squared Ltd purchased a new stake in Badger Meter during the fourth quarter worth approximately $28,000. Principal Securities Inc. boosted its stake in shares of Badger Meter by 2,457.1% in the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 172 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Badger Meter in the fourth quarter valued at $39,000. ORG Partners LLC purchased a new position in shares of Badger Meter in the fourth quarter valued at $42,000. Finally, Blue Trust Inc. boosted its stake in shares of 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 valued at $44,000 after purchasing an additional 183 shares during the period. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Stock Up 2.3 %

The firm has a market capitalization of $6.27 billion, a PE ratio of 52.94, a P/E/G ratio of 2.31 and a beta of 0.79. The firm’s 50 day moving average price is $217.38 and its two-hundred day moving average price is $211.11.

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.