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

Badger Meter, Inc. (NYSE:BMI)’s stock price gapped up before the market opened 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 trading hands.

The scientific and technical instruments company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates 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 business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Maxim Group increased their price objective on shares of Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Robert W. Baird increased their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Stifel Nicolaus increased their price objective on shares of Badger Meter from $203.00 to $208.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $216.00.

Institutional Trading of Badger Meter

A number of institutional investors and hedge funds have recently modified their holdings of the business. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Badger Meter by 0.8% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 6,204 shares of the scientific and technical instruments company’s stock worth $1,316,000 after purchasing an additional 50 shares during the period. HighTower Advisors LLC raised its holdings in shares of Badger Meter by 1.1% during the third quarter. HighTower Advisors LLC now owns 5,312 shares of the scientific and technical instruments company’s stock worth $1,165,000 after purchasing an additional 56 shares during the period. Private Advisor Group LLC increased its holdings in shares of Badger Meter by 4.5% in the 3rd quarter. Private Advisor Group LLC now owns 1,635 shares of the scientific and technical instruments company’s stock worth $357,000 after acquiring an additional 71 shares during the period. Synovus Financial Corp increased its holdings in shares of Badger Meter by 4.6% in the 3rd quarter. Synovus Financial Corp now owns 2,211 shares of the scientific and technical instruments company’s stock worth $483,000 after acquiring an additional 98 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Badger Meter in the 4th quarter worth about $28,000. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Stock Performance

The stock’s fifty day moving average is $217.38 and its two-hundred day moving average is $211.11. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 52.94, a PEG ratio of 2.31 and a beta of 0.79.

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.