Badger Meter (NYSE:BMI) Shares Gap Down – Here’s What Happened

Badger Meter, Inc. (NYSE:BMI)’s share price gapped down prior to trading on Friday . The stock had previously closed at $130.94, but opened at $128.18. Badger Meter shares last traded at $129.09, with a volume of 12,660 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BMI shares. Maxim Group downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Seaport Research Partners set a $160.00 price target on shares of Badger Meter in a research report on Thursday, July 23rd. Robert W. Baird set a $167.00 price target on shares of Badger Meter and gave the company an “outperform” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada cut their price objective on Badger Meter from $169.00 to $162.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Badger Meter currently has an average rating of “Hold” and a consensus price target of $164.00.

Badger Meter Price Performance

The company’s 50-day moving average is $137.47 and its 200-day moving average is $139.20. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 2.39 and a beta of 0.65.

Badger Meter (NYSE:BMI) last issued its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The firm had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $220.59 million. During the same quarter last year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts anticipate that Badger Meter, Inc. will post 4.43 earnings per share for the current year.

Badger Meter Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.44 per share. This is an increase from Badger Meter’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 28th. Badger Meter’s payout ratio is presently 37.38%.

Insider Activity

In other Badger Meter news, VP Edward F. Callahan bought 751 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were acquired at an average price of $135.25 per share, with a total value of $101,572.75. Following the purchase, the vice president owned 1,937 shares in the company, valued at approximately $261,979.25. The trade was a 63.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

Institutional Trading of Badger Meter

Several large investors have recently added to or reduced their stakes in the stock. XXEC Inc. acquired a new stake in shares of Badger Meter in the second quarter valued at about $825,029,000. BlackRock Inc. purchased a new stake in shares of Badger Meter during the 2nd quarter valued at about $725,926,000. Norges Bank acquired a new position in Badger Meter during the 4th quarter worth approximately $83,819,000. Bank of America Corp DE acquired a new position in Badger Meter during the 2nd quarter worth approximately $68,344,000. Finally, UBS Group AG boosted its holdings in Badger Meter by 89.2% in the 4th quarter. UBS Group AG now owns 712,650 shares of the scientific and technical instruments company’s stock worth $124,293,000 after acquiring an additional 335,953 shares during the period. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Company Profile

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.