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

Badger Meter, Inc. (NYSE:BMI)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. 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 earnings per share 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 company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.34 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.36 annualized dividend and a yield of 0.63%. Badger Meter’s dividend payout ratio is currently 33.75%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BMI shares. Stifel Nicolaus increased their price target on Badger Meter from $203.00 to $208.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. 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 note on Friday, October 18th. Finally, Robert W. Baird lifted their price target on Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a 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 company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $216.00.

Institutional Trading of Badger Meter

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can raised its position in Badger Meter by 56.9% in the second quarter. Bank of Montreal Can now owns 19,511 shares of the scientific and technical instruments company’s stock valued at $3,674,000 after purchasing an additional 7,078 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Badger Meter by 153.5% in the second quarter. Squarepoint Ops LLC now owns 10,157 shares of the scientific and technical instruments company’s stock valued at $1,893,000 after purchasing an additional 6,150 shares during the period. AQR Capital Management LLC grew its holdings in Badger Meter by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 20,349 shares of the scientific and technical instruments company’s stock valued at $3,792,000 after purchasing an additional 10,911 shares in the last quarter. Millennium Management LLC increased its stake in Badger Meter by 86.2% during the 2nd quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company’s stock worth $18,782,000 after buying an additional 46,650 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Badger Meter by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,249 shares of the scientific and technical instruments company’s stock worth $3,214,000 after buying an additional 588 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Trading Up 3.6 %

The business’s 50-day simple moving average is $217.53 and its two-hundred day simple moving average is $210.99. The company has a market capitalization of $6.36 billion, a PE ratio of 53.63, 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.