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Badger Meter (NYSE:BMI) Raised to "Buy" at StockNews.com

kopsource · Sep 17, 2022 03:52

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

Several other research firms also recently issued reports on BMI. Stifel Nicolaus cut their target price on Badger Meter from $88.00 to $79.00 in a research report on Wednesday, July 20th. TheStreet upgraded shares of Badger Meter from a c+ rating to a b- rating in a research note on Wednesday, August 3rd. Morgan Stanley dropped their price target on shares of Badger Meter from $95.00 to $80.00 and set an underweight rating on the stock in a research note on Thursday, June 9th. Finally, Northcoast Research assumed coverage on shares of Badger Meter in a report on Friday, July 15th. They set a neutral rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $94.67.

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Badger Meter Trading Up 1.0 %

Shares of BMI stock opened at $93.21 on Tuesday. The stock's 50-day moving average price is $93.83 and its 200-day moving average price is $88.87. Badger Meter has a 12-month low of $73.20 and a 12-month high of $112.36. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 42.56 and a beta of 0.85.

Badger Meter (NYSE:BMI – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Badger Meter had a return on equity of 15.83% and a net margin of 12.00%. The company had revenue of $137.80 million for the quarter, compared to analysts' expectations of $132.04 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts predict that Badger Meter will post 2.3 EPS for the current fiscal year.

Badger Meter Increases Dividend

The business also recently declared 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. This is a positive change from Badger Meter's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, August 25th. This represents a $0.90 annualized dividend and a yield of 0.97%. Badger Meter's dividend payout ratio is 41.10%.

Insider Buying and Selling

In other news, VP William R. A. Bergum sold 2,362 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $96.40, for a total value of $227,696.80. Following the completion of the sale, the vice president now owns 11,861 shares of the company's stock, valued at $1,143,400.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BMI. Princeton Global Asset Management LLC bought a new position in shares of Badger Meter in the 1st quarter worth about $27,000. National Bank of Canada FI acquired a new stake in shares of Badger Meter in the 1st quarter worth about $30,000. CWM LLC increased its holdings in shares of Badger Meter by 60.6% in the 1st quarter. CWM LLC now owns 355 shares of the scientific and technical instruments company's stock worth $35,000 after acquiring an additional 134 shares during the period. BerganKDV Wealth Management LLC acquired a new position in Badger Meter during the 2nd quarter valued at about $32,000. Finally, Trust Co. of Vermont acquired a new position in Badger Meter during the 2nd quarter valued at about $47,000. 86.42% of the stock is currently owned by institutional investors.

Badger Meter Company Profile

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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.