Badger Meter, Inc. (NYSE:BMI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Badger Meter, Inc. (NYSE:BMI) have received an average rating of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $164.00.

A number of equities analysts have commented on the stock. Stifel Nicolaus set a $170.00 price target on shares of Badger Meter and gave the stock a “buy” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Seaport Research Partners set a $160.00 target price on shares of Badger Meter in a research report on Thursday, July 23rd. Finally, Barclays reissued an “underweight” rating and issued a $112.00 target price (up from $109.00) on shares of Badger Meter in a research note on Tuesday, July 28th.

Badger Meter Trading Down 2.3%

Shares of BMI opened at $125.71 on Wednesday. Badger Meter has a 12-month low of $112.09 and a 12-month high of $204.00. The company has a market cap of $3.64 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The stock has a 50-day moving average price of $137.47 and a 200-day moving average price of $139.43.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. The company had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. Badger Meter’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share. As a group, analysts predict that Badger Meter will post 4.43 earnings per share for the current year.

Badger Meter Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 28th. This is an increase from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio (DPR) is currently 41.12%.

Insider Activity at Badger Meter

In other news, VP Edward F. Callahan acquired 751 shares of Badger Meter stock in a transaction dated Thursday, July 30th. The shares were purchased at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the transaction, the vice president owned 1,937 shares of the company’s stock, valued at $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Badger Meter

Hedge funds and other institutional investors have recently bought and sold shares of the company. N.E.W. Advisory Services LLC purchased a new position in shares of Badger Meter during the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Badger Meter by 76.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new stake in shares of Badger Meter in the 4th quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new position in shares of Badger Meter during the 2nd quarter valued at $27,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Badger Meter by 62.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.