Badger Meter (BMI) Shares Down 9.1% After Earnings Miss

Badger Meter (NYSE:BMI) shares were down 9.1% during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $41.50 and last traded at $41.90. Approximately 650,376 shares traded hands during mid-day trading, an increase of 385% from the average daily volume of 134,125 shares. The stock had previously closed at $46.10.

The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.11). Badger Meter had a net margin of 8.59% and a return on equity of 12.78%. The firm had revenue of $105.04 million during the quarter, compared to analyst estimates of $107.17 million. During the same period in the prior year, the company earned $0.30 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year.

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Several research analysts have recently issued reports on BMI shares. ValuEngine raised Badger Meter from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised Badger Meter from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Thursday, January 18th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $41.00 price objective on shares of Badger Meter in a research note on Thursday. Boenning Scattergood reaffirmed a “hold” rating on shares of Badger Meter in a research note on Wednesday. Finally, Robert W. Baird increased their target price on shares of Badger Meter from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.40.

In other Badger Meter news, VP Kimberly K. Stoll sold 2,040 shares of the stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $48.47, for a total transaction of $98,878.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kimberly K. Stoll sold 1,834 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $48.78, for a total transaction of $89,462.52. Following the sale, the vice president now directly owns 10,672 shares of the company’s stock, valued at approximately $520,580.16. The disclosure for this sale can be found here. Insiders have sold a total of 35,093 shares of company stock valued at $1,734,158 in the last three months. Insiders own 2.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Impax Asset Management LTD boosted its holdings in shares of Badger Meter by 24.7% during the 4th quarter. Impax Asset Management LTD now owns 1,181,774 shares of the scientific and technical instruments company’s stock worth $56,489,000 after buying an additional 234,026 shares in the last quarter. Copeland Capital Management LLC bought a new position in shares of Badger Meter during the 4th quarter worth approximately $8,381,000. BlackRock Inc. boosted its holdings in shares of Badger Meter by 3.5% during the 4th quarter. BlackRock Inc. now owns 3,679,398 shares of the scientific and technical instruments company’s stock worth $175,875,000 after buying an additional 124,253 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Badger Meter by 16.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 666,590 shares of the scientific and technical instruments company’s stock worth $31,863,000 after buying an additional 94,609 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Badger Meter by 97.1% during the 4th quarter. Deutsche Bank AG now owns 179,700 shares of the scientific and technical instruments company’s stock worth $8,588,000 after buying an additional 88,520 shares in the last quarter. 86.42% of the stock is owned by institutional investors and hedge funds.

The firm has a market capitalization of $1,328.95, a PE ratio of 35.21, a P/E/G ratio of 1.86 and a beta of 0.61.

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Badger Meter Company Profile

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

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