Brokerages Set Badger Meter, Inc. (NYSE:BMI) Target Price at $227.00

Badger Meter, Inc. (NYSE:BMI) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $227.00.

Several analysts have recently weighed in on the stock. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Royal Bank Of Canada set a $229.00 target price on Badger Meter and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Weiss Ratings downgraded Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Robert W. Baird set a $205.00 price target on Badger Meter and gave the company a “neutral” rating in a research note on Monday, October 20th. Finally, Jefferies Financial Group assumed coverage on Badger Meter in a report on Friday, December 12th. They issued a “buy” rating and a $220.00 price objective for the company.

Hedge Funds Weigh In On Badger Meter

A number of large investors have recently bought and sold shares of BMI. Vanguard Group Inc. increased its holdings in shares of Badger Meter by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,960,308 shares of the scientific and technical instruments company’s stock valued at $707,232,000 after acquiring an additional 145,389 shares during the period. State Street Corp boosted its position in Badger Meter by 1.4% during the second quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company’s stock valued at $358,315,000 after purchasing an additional 20,122 shares in the last quarter. Invesco Ltd. grew its stake in Badger Meter by 20.9% in the third quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company’s stock valued at $173,262,000 after purchasing an additional 168,053 shares during the last quarter. Geode Capital Management LLC raised its holdings in Badger Meter by 2.3% in the second quarter. Geode Capital Management LLC now owns 876,519 shares of the scientific and technical instruments company’s stock worth $215,464,000 after purchasing an additional 19,340 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Badger Meter by 78.1% during the second quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock valued at $150,108,000 after buying an additional 268,799 shares during the last quarter. Institutional investors own 89.01% of the company’s stock.

Badger Meter Trading Up 1.2%

Shares of BMI opened at $176.44 on Tuesday. The firm has a fifty day moving average price of $179.86 and a 200-day moving average price of $191.95. The firm has a market capitalization of $5.20 billion, a P/E ratio of 37.54, a P/E/G ratio of 2.63 and a beta of 0.91. Badger Meter has a 12-month low of $162.17 and a 12-month high of $256.08.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Wednesday, October 22nd. The scientific and technical instruments company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $235.65 million during the quarter, compared to analyst estimates of $231.88 million. Badger Meter had a net margin of 15.40% and a return on equity of 21.12%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Analysts predict that Badger Meter will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, November 21st. Badger Meter’s dividend payout ratio is presently 34.04%.

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.