Badger Meter Inc. (BMI) Announces Earnings Results, Misses Expectations By $0.03 EPS
Badger Meter Inc. (NYSE:BMI) announced its quarterly earnings data on Tuesday. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. The firm earned $96.30 million during the quarter, compared to the consensus estimate of $105.66 million. Badger Meter had a net margin of 7.81% and a return on equity of 13.19%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.58 earnings per share.
Shares of Badger Meter (NYSE:BMI) opened at 33.01 on Tuesday. Badger Meter has a 1-year low of $26.40 and a 1-year high of $39.36. The firm’s 50 day moving average is $33.19 and its 200-day moving average is $35.00. The company has a market cap of $960.49 million, a PE ratio of 30.56 and a beta of 0.63.
Separately, Zacks Investment Research cut shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 18th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Badger Meter currently has an average rating of “Hold” and a consensus target price of $32.88.
In other news, insider Ronald H. Dix sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.72, for a total transaction of $137,440.00. Following the completion of the transaction, the insider now directly owns 28,300 shares of the company’s stock, valued at approximately $1,944,776. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William R. A. Bergum sold 2,250 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $65.09, for a total transaction of $146,452.50. Following the transaction, the vice president now directly owns 4,432 shares of the company’s stock, valued at $288,478.88. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC bought a new position in Badger Meter during the second quarter worth $200,000. Bridgeway Capital Management Inc. acquired a new position in Badger Meter during the second quarter valued at approximately $230,000. Raymond James & Associates increased its position in Badger Meter by 7.3% in the second quarter. Raymond James & Associates now owns 3,280 shares of the company’s stock valued at $240,000 after buying an additional 222 shares during the period. AQR Capital Management LLC acquired a new position in Badger Meter during the second quarter valued at approximately $316,000. Finally, Parametric Portfolio Associates LLC increased its position in Badger Meter by 9.4% in the second quarter. Parametric Portfolio Associates LLC now owns 5,729 shares of the company’s stock valued at $418,000 after buying an additional 493 shares during the period. 39.86% of the stock is owned by hedge funds and other institutional investors.
Badger Meter Company Profile
Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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