Badger Meter (BMI Quick QuoteBMI - Free Report) recently acquired UK-based intelligent water monitoring solutions company — Syrinix — for £15 million in an all-cash deal.

Syrinix offers leak exposure and pressure monitoring solutions within water distribution and collection networks. The company’s cloud-powered software platform generates data and customized alerts and insights to aid asset monitoring in real time for clients.

The integration of Syrinix’s solutions will aid Badger Meter to provide its clients with an expanded portfolio that will aid in preserving precious resources like water as well as improve asset life.

Headquartered in Milwaukee, WI, Badger Meter provides flow measurement, control and communications solutions, serving water and gas utilities to municipalities and industrial customers worldwide.

Badger Meter, Inc. Price and Consensus

Badger Meter, Inc. price-consensus-chart | Badger Meter, Inc. Quote

Badger Meter’s performance is benefitting from robust customer demand and strong order trends across the majority of end-market applications globally. Continued strength in E-Series, ultrasonic meters, ORION Cellular endpoint sales, and higher BEACON Software-as-a-Service revenues bode well.

In the last reported quarter, the company reported net sales of $148 million from $128.7 million in the year-ago quarter. The 15% (up 17% excluding the unfavorable impact of the stronger U.S. dollar) rise was primarily driven by robust customer demand. Also, the top line beat the Zacks Consensus Estimate of $141.1 million.

A strong cash position with no long-term debt along with ongoing price realization are major tailwinds. Also, effective spending controls and higher sales are likely to help the company to improve selling, engineering, and administration expenses leverage.

Strategic acquisitions also supplementing organic growth for Badger Meter. In January 2021, BMI acquired privately-held Analytical Technology, Inc. (“ATi”) for $44 million in cash. ATi is a leading provider and innovator of water quality monitoring solutions, as well as toxic and combustible gas detectors for municipal and industrial markets.

In November 2020, Badger Meter acquired s::can GmbH, a leading provider of water quality monitoring systems, for €27 million. Badger Meter’s strong cash generation and balance sheet allow it to execute its capital allocation strategy.

At present, Badger Meter carries a Zacks Rank #3 (Hold). Shares of the company are up 9.8% compared with sub-industry’s decline of 19.1% in the past year.

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Stocks to Consider

Some better-ranked stocks from the broader technology space are Arista Networks (ANET Quick QuoteANET - Free Report) , Jabil (JBL Quick QuoteJBL - Free Report) and Asure Software (ASUR Quick QuoteASUR - Free Report) , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Arista Networks’ 2022 earnings is pegged at $4.37 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.

Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 15.5% in the past year.

The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.31 per share, rising 1.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.

Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have declined 5.7% in the past year.

The Zacks Consensus Estimate for Asure Software’s 2022 earnings is pegged at 7 cents per share, rising 75% in the past 60 days. The long-term earnings growth rate is anticipated to be 23%.

Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 83.3%. Shares of ASUR have soared 32.8% in the past year.