Badger Meter (NYSE:BMI) Issues Earnings Results

Badger Meter (NYSE:BMI) released its earnings results on Friday. The scientific and technical instruments company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.28), FiscalAI reports. The business had revenue of $202.28 million during the quarter, compared to analyst estimates of $232.10 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS.

Badger Meter Stock Down 2.7%

BMI stock opened at $152.83 on Friday. Badger Meter has a twelve month low of $139.14 and a twelve month high of $256.08. The company has a market cap of $4.46 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. The business’s 50-day simple moving average is $153.13 and its 200 day simple moving average is $167.99.

Badger Meter Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. Badger Meter’s dividend payout ratio (DPR) is 33.33%.

Insider Transactions at Badger Meter

In related news, VP Fred J. Begale sold 2,064 shares of Badger Meter stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $150.00, for a total transaction of $309,600.00. Following the sale, the vice president directly owned 3,040 shares of the company’s stock, valued at $456,000. This trade represents a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Wrocklage bought 1,650 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were purchased at an average cost of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the transaction, the executive vice president owned 19,541 shares of the company’s stock, valued at $2,977,071.35. This represents a 9.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 3,989 shares of company stock valued at $596,002 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Badger Meter

A number of institutional investors have recently added to or reduced their stakes in BMI. Caitong International Asset Management Co. Ltd boosted its holdings in Badger Meter by 76.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Badger Meter by 62.3% during the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Badger Meter during the second quarter valued at approximately $49,000. Smartleaf Asset Management LLC boosted its holdings in Badger Meter by 13.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 688 shares of the scientific and technical instruments company’s stock valued at $123,000 after purchasing an additional 82 shares in the last quarter. Finally, Twin Tree Management LP boosted its holdings in Badger Meter by 108.8% during the third quarter. Twin Tree Management LP now owns 864 shares of the scientific and technical instruments company’s stock valued at $154,000 after purchasing an additional 10,660 shares in the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on BMI shares. JPMorgan Chase & Co. lowered their target price on Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $191.00 target price (down from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $167.00 target price on shares of Badger Meter in a research report on Thursday, January 29th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $183.88.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.