Badger Meter (NYSE:BMI) Reaches New 1-Year High After Strong Earnings

Badger Meter, Inc. (NYSE:BMI) shares reached a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $174.88 and last traded at $171.21, with a volume of 85084 shares traded. The stock had previously closed at $153.00.

The scientific and technical instruments company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.17. The business had revenue of $196.80 million during the quarter, compared to the consensus estimate of $182.25 million. Badger Meter had a return on equity of 19.07% and a net margin of 13.16%. Badger Meter’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.27 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 0.61%. Badger Meter’s payout ratio is 34.39%.

Analysts Set New Price Targets

A number of analysts have commented on BMI shares. Northcoast Research raised shares of Badger Meter from a “sell” rating to a “neutral” rating in a research report on Thursday. StockNews.com raised shares of Badger Meter from a “hold” rating to a “buy” rating in a research report on Friday. Stifel Nicolaus upped their price target on shares of Badger Meter from $147.00 to $175.00 and gave the company a “hold” rating in a research report on Friday. Maxim Group upped their price target on shares of Badger Meter from $190.00 to $207.00 and gave the company a “buy” rating in a research report on Friday. Finally, Robert W. Baird upped their price target on shares of Badger Meter from $151.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday. Four investment 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, Badger Meter has an average rating of “Hold” and a consensus price target of $162.50.

Insider Transactions at Badger Meter

In other news, VP William R. A. Bergum sold 194 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $159.55, for a total transaction of $30,952.70. Following the transaction, the vice president now owns 13,672 shares of the company’s stock, valued at approximately $2,181,367.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Badger Meter news, VP William R. A. Bergum sold 1,416 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $156.23, for a total value of $221,221.68. Following the completion of the sale, the vice president now owns 13,422 shares in the company, valued at approximately $2,096,919.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP William R. A. Bergum sold 194 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $159.55, for a total transaction of $30,952.70. Following the completion of the sale, the vice president now owns 13,672 shares of the company’s stock, valued at approximately $2,181,367.60. The disclosure for this sale can be found here. Insiders have sold 2,813 shares of company stock valued at $448,167 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Badger Meter

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. increased its stake in Badger Meter by 5.3% in the 4th quarter. Contravisory Investment Management Inc. now owns 1,603 shares of the scientific and technical instruments company’s stock valued at $247,000 after buying an additional 81 shares during the last quarter. Mariner LLC increased its stake in shares of Badger Meter by 1.8% during the 3rd quarter. Mariner LLC now owns 4,956 shares of the scientific and technical instruments company’s stock worth $713,000 after purchasing an additional 88 shares during the last quarter. Advisor Partners II LLC increased its stake in shares of Badger Meter by 3.0% during the 1st quarter. Advisor Partners II LLC now owns 3,070 shares of the scientific and technical instruments company’s stock worth $374,000 after purchasing an additional 90 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Badger Meter by 5.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,796 shares of the scientific and technical instruments company’s stock worth $277,000 after purchasing an additional 94 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Badger Meter by 1.3% during the 1st quarter. HighTower Advisors LLC now owns 7,262 shares of the scientific and technical instruments company’s stock worth $889,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Performance

The company’s 50 day moving average price is $157.41 and its 200-day moving average price is $150.56. The company has a market cap of $5.19 billion, a PE ratio of 56.27, a price-to-earnings-growth ratio of 3.52 and a beta of 0.86.

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.