Brokerages Set Badger Meter, Inc. (BMI) Price Target at $51.80

Shares of Badger Meter, Inc. (NYSE:BMI) have received an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $51.80.

Several research analysts have weighed in on BMI shares. Zacks Investment Research lowered shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 18th. Berenberg Bank upgraded shares of Badger Meter from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Maxim Group restated a “buy” rating and issued a $65.00 price target on shares of Badger Meter in a research report on Monday, January 7th. Finally, Boenning Scattergood restated a “hold” rating on shares of Badger Meter in a research report on Tuesday, February 5th.

BMI stock traded up $0.17 during mid-day trading on Friday, hitting $55.64. 147,356 shares of the company were exchanged, compared to its average volume of 118,208. The firm has a market cap of $1.61 billion, a P/E ratio of 36.13, a P/E/G ratio of 3.57 and a beta of 0.80. Badger Meter has a twelve month low of $41.00 and a twelve month high of $61.57.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Tuesday, February 5th. The scientific and technical instruments company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The company had revenue of $104.40 million during the quarter, compared to analyst estimates of $103.54 million. Badger Meter had a net margin of 6.41% and a return on equity of 15.39%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. Equities research analysts predict that Badger Meter will post 1.73 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were given a $0.15 dividend. The ex-dividend date was Wednesday, February 27th. This represents a $0.60 annualized dividend and a yield of 1.08%. Badger Meter’s dividend payout ratio is presently 38.96%.

In other Badger Meter news, Director Richard A. Meeusen sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $59.02, for a total transaction of $590,200.00. Following the sale, the director now directly owns 78,562 shares in the company, valued at approximately $4,636,729.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kimberly K. Stoll sold 3,647 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $56.62, for a total transaction of $206,493.14. Following the sale, the vice president now owns 9,889 shares in the company, valued at $559,915.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,705 shares of company stock worth $2,271,763. 2.80% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Badger Meter by 1.1% during the 4th quarter. BlackRock Inc. now owns 4,289,877 shares of the scientific and technical instruments company’s stock worth $211,103,000 after buying an additional 48,199 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Badger Meter by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,105,545 shares of the scientific and technical instruments company’s stock worth $164,438,000 after purchasing an additional 76,731 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Badger Meter by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 3,105,545 shares of the scientific and technical instruments company’s stock worth $164,438,000 after purchasing an additional 76,731 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Badger Meter by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,163,009 shares of the scientific and technical instruments company’s stock worth $57,231,000 after purchasing an additional 22,892 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Badger Meter by 4.2% in the 3rd quarter. Wells Fargo & Company MN now owns 715,791 shares of the scientific and technical instruments company’s stock worth $37,901,000 after purchasing an additional 28,992 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

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.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

Analyst Recommendations for Badger Meter (NYSE:BMI)

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