StockNews.com upgraded shares of Badger Meter (NYSE:BMI – Get Rating) from a hold rating to a buy rating in a report issued on Tuesday.
Several other equities analysts have also commented on BMI. Northcoast Research initiated coverage on shares of Badger Meter in a report on Friday, July 15th. They issued a neutral rating on the stock. Stifel Nicolaus decreased their price target on shares of Badger Meter from $88.00 to $79.00 in a report on Wednesday, July 20th. Morgan Stanley decreased their price target on shares of Badger Meter from $95.00 to $80.00 and set an underweight rating on the stock in a report on Thursday, June 9th. Finally, TheStreet raised shares of Badger Meter from a c+ rating to a b- rating in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $94.67.
Get Badger Meter alerts:Badger Meter Stock Down 3.7 %
BMI stock opened at $94.70 on Tuesday. Badger Meter has a 12 month low of $73.20 and a 12 month high of $112.36. The firm has a market cap of $2.77 billion, a P/E ratio of 43.24 and a beta of 0.85. The company's 50-day moving average price is $93.12 and its two-hundred day moving average price is $88.92.
Badger Meter (NYSE:BMI – Get Rating) last released its earnings results on Wednesday, July 20th. The scientific and technical instruments company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Badger Meter had a net margin of 12.00% and a return on equity of 15.83%. The firm had revenue of $137.80 million for the quarter, compared to analyst estimates of $132.04 million. During the same period last year, the firm earned $0.48 EPS. The business's quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts predict that Badger Meter will post 2.3 EPS for the current year.Badger Meter Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were given a dividend of $0.225 per share. The ex-dividend date was Thursday, August 25th. This is an increase from Badger Meter's previous quarterly dividend of $0.20. This represents a $0.90 annualized dividend and a yield of 0.95%. Badger Meter's dividend payout ratio (DPR) is currently 41.10%.
Insider Buying and Selling
In related news, VP William R. A. Bergum sold 2,362 shares of Badger Meter stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $96.40, for a total transaction of $227,696.80. Following the sale, the vice president now directly owns 11,861 shares in the company, valued at approximately $1,143,400.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Badger Meter
Hedge funds have recently added to or reduced their stakes in the business. Aviva PLC lifted its position in shares of Badger Meter by 45.9% in the 4th quarter. Aviva PLC now owns 23,794 shares of the scientific and technical instruments company's stock worth $2,535,000 after purchasing an additional 7,489 shares during the period. Teacher Retirement System of Texas increased its position in shares of Badger Meter by 20.8% during the fourth quarter. Teacher Retirement System of Texas now owns 5,680 shares of the scientific and technical instruments company's stock worth $605,000 after buying an additional 978 shares during the period. Citigroup Inc. raised its stake in Badger Meter by 35.6% during the fourth quarter. Citigroup Inc. now owns 27,723 shares of the scientific and technical instruments company's stock worth $2,954,000 after buying an additional 7,271 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Badger Meter in the fourth quarter valued at $1,189,000. Finally, JPMorgan Chase & Co. grew its holdings in Badger Meter by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 928,076 shares of the scientific and technical instruments company's stock worth $98,896,000 after acquiring an additional 10,128 shares during the period. 86.42% of the stock is currently owned by institutional investors and hedge funds.
About Badger Meter
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Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.
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