Badger Meter (NYSE:BMI) Trading 5.6% Higher After Earnings Beat

Badger Meter, Inc. (NYSE:BMI - Get Free Report)'s stock price traded up 5.6% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $199.95 and last traded at $194.24. 46,703 shares traded hands during trading, a decline of 77% from the average session volume of 202,186 shares. The stock had previously closed at $183.90.

The scientific and technical instruments company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.22. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $220.39 million. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. During the same period in the previous year, the business earned $0.99 EPS.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, February 28th. Badger Meter's dividend payout ratio (DPR) is presently 32.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BMI shares. Stifel Nicolaus decreased their target price on Badger Meter from $209.00 to $196.00 and set a "hold" rating for the company in a report on Wednesday. Maxim Group lifted their price objective on shares of Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada began coverage on shares of Badger Meter in a research note on Thursday, March 27th. They issued an "outperform" rating and a $251.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Badger Meter has an average rating of "Hold" and a consensus target price of $222.60.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, VP William R. A. Bergum sold 2,416 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $210.33, for a total value of $508,157.28. Following the completion of the transaction, the vice president now owns 14,199 shares in the company, valued at approximately $2,986,475.67. This represents a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Karen M. Bauer sold 1,147 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total value of $240,571.78. Following the sale, the vice president now owns 5,076 shares in the company, valued at $1,064,640.24. This trade represents a 18.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,949 shares of company stock valued at $4,398,407. 0.90% of the stock is owned by company insiders.

Institutional Trading of Badger Meter

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of Badger Meter during the fourth quarter worth approximately $25,000. R Squared Ltd acquired a new stake in Badger Meter during the 4th quarter worth $28,000. Bessemer Group Inc. grew its holdings in shares of Badger Meter by 162.5% during the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock worth $31,000 after buying an additional 91 shares in the last quarter. Principal Securities Inc. raised its holdings in Badger Meter by 2,457.1% in the 4th quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock valued at $38,000 after acquiring an additional 172 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Badger Meter in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Badger Meter Trading Up 9.8 %

The firm has a market cap of $5.94 billion, a PE ratio of 47.72, a price-to-earnings-growth ratio of 3.89 and a beta of 0.84. The firm has a fifty day moving average price of $198.55 and a 200 day moving average price of $210.17.

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.