Badger Meter (NYSE:BMI) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Badger Meter (NYSE:BMI) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other brokerages have also recently commented on BMI. Stifel Nicolaus raised 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. Maxim Group increased their price objective on Badger Meter from $190.00 to $207.00 and gave the company a buy rating in a research note on Friday. Northcoast Research raised Badger Meter from a sell rating to a neutral rating in a research note on Thursday, April 18th. Finally, Robert W. Baird increased their price objective on Badger Meter from $151.00 to $180.00 and gave the company a neutral rating in a research note on Friday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $162.50.

Badger Meter Stock Performance

BMI stock opened at $181.14 on Friday. Badger Meter has a one year low of $128.93 and a one year high of $182.80. The stock has a market capitalization of $5.32 billion, a PE ratio of 52.20, a price-to-earnings-growth ratio of 3.70 and a beta of 0.86. The company has a fifty day moving average of $158.52 and a 200-day moving average of $151.19.

Badger Meter (NYSE:BMI) last released its earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 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 company had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $182.25 million. During the same quarter last year, the business earned $0.66 EPS. The business’s revenue was up 23.7% on a year-over-year basis. Equities analysts forecast that Badger Meter will post 3.89 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

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

Insider Activity at Badger Meter

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. CWM LLC increased its holdings in Badger Meter by 33.3% in the 3rd quarter. CWM LLC now owns 532 shares of the scientific and technical instruments company’s stock valued at $77,000 after purchasing an additional 133 shares in the last quarter. Legato Capital Management LLC purchased a new stake in shares of Badger Meter in the third quarter worth about $411,000. SG Americas Securities LLC grew its stake in shares of 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 valued at $4,645,000 after buying an additional 31,533 shares in the last quarter. Cardinal Capital Management raised its holdings in shares of Badger Meter by 0.5% during the 3rd quarter. Cardinal Capital Management now owns 19,606 shares of the scientific and technical instruments company’s stock valued at $2,821,000 after buying an additional 107 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings 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 valued at $903,000 after buying an additional 128 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.

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.