Badger Meter (NYSE:BMI) Upgraded at StockNews.com

StockNews.com upgraded shares of Badger Meter (NYSE:BMI) from a hold rating to a buy rating in a report published on Friday.

Other equities research analysts have also issued reports about the company. Northcoast Research raised Badger Meter from a sell rating to a neutral rating in a research report on Thursday, April 18th. Maxim Group lifted their price target on Badger Meter from $190.00 to $207.00 and gave the stock a buy rating in a research note on Friday. Stifel Nicolaus upped their price objective on shares of Badger Meter from $147.00 to $175.00 and gave the company a hold rating in a research note on Friday. Finally, Robert W. Baird lifted their target price on shares of Badger Meter from $151.00 to $180.00 and gave the stock a neutral rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Badger Meter presently has a consensus rating of Hold and a consensus price target of $162.50.

Badger Meter Price Performance

Shares of BMI opened at $181.14 on Friday. Badger Meter has a 12-month low of $128.93 and a 12-month high of $182.80. The stock has a market capitalization of $5.32 billion, a P/E ratio of 52.20, a P/E/G ratio of 3.70 and a beta of 0.86. The firm’s 50 day moving average is $158.52 and its 200-day moving average is $151.19.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.17. Badger Meter had a net margin of 13.81% and a return on equity of 20.26%. The firm had revenue of $196.80 million for the quarter, compared to analyst estimates of $182.25 million. During the same quarter in the previous year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, equities research analysts forecast that Badger Meter will post 3.89 EPS for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, February 22nd. Badger Meter’s payout ratio is 31.12%.

Insiders Place Their Bets

In related news, VP William R. A. Bergum sold 194 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $159.55, for a total transaction of $30,952.70. Following the completion of the sale, the vice president now directly owns 13,672 shares in the company, valued at $2,181,367.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Fred J. Begale sold 1,203 shares of Badger Meter stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $162.92, for a total transaction of $195,992.76. Following the completion of the sale, the vice president now owns 2,181 shares of the company’s stock, valued at $355,328.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP William R. A. Bergum sold 194 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $159.55, for a total value of $30,952.70. Following the completion of the transaction, the vice president now owns 13,672 shares in the company, valued at approximately $2,181,367.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,813 shares of company stock worth $448,167. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Badger Meter

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its holdings in Badger Meter by 33.3% in the third quarter. CWM LLC now owns 532 shares of the scientific and technical instruments company’s stock worth $77,000 after buying an additional 133 shares during the last quarter. Legato Capital Management LLC acquired a new stake in Badger Meter in the third quarter valued at approximately $411,000. SG Americas Securities LLC grew its position in Badger Meter by 4,198.8% in the third quarter. SG Americas Securities LLC now owns 32,284 shares of the scientific and technical instruments company’s stock worth $4,645,000 after acquiring an additional 31,533 shares in the last quarter. Cardinal Capital Management grew its position in Badger Meter by 0.5% in the third quarter. Cardinal Capital Management now owns 19,606 shares of the scientific and technical instruments company’s stock worth $2,821,000 after acquiring an additional 107 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of Badger Meter by 2.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 6,277 shares of the scientific and technical instruments company’s stock worth $903,000 after purchasing an additional 128 shares during the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Company Profile

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.