Badger Meter (NYSE:BMI) Shares Gap Up After Strong Earnings

Shares of 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 traded.

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 return on equity of 21.56% and a net margin of 14.80%.

Badger Meter Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Friday, November 22nd. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Badger Meter

Several institutional investors have recently modified their holdings of BMI. Private Advisor Group LLC raised its position in shares of Badger Meter by 4.5% during 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 in the last quarter. Burney Co. purchased a new position in shares of Badger Meter in the 4th quarter valued at $385,000. Geneva Partners LLC purchased a new position in shares of Badger Meter in the 3rd quarter valued at $1,120,000. Stifel Financial Corp raised its stake in Badger Meter by 29.0% during the 3rd quarter. Stifel Financial Corp now owns 11,971 shares of the scientific and technical instruments company’s stock worth $2,615,000 after acquiring an additional 2,692 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Badger Meter by 14.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 25,869 shares of the scientific and technical instruments company’s stock valued at $5,650,000 after acquiring an additional 3,233 shares during the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Price Performance

The firm’s 50 day simple moving average is $217.53 and its 200-day simple moving average is $210.99. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 53.63, a P/E/G ratio of 2.31 and a beta of 0.79.

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.