Badger Meter Inc. (NYSE:BMI)’s share price dropped 5.2% on Thursday . The company traded as low as $70.48 and last traded at $70.95, with a volume of 57,285 shares traded. The stock had previously closed at $74.84.

BMI has been the topic of a number of recent analyst reports. Sterne Agee CRT restated a “neutral” rating on shares of Badger Meter in a report on Monday, May 16th. Robert W. Baird downgraded shares of Badger Meter from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $67.00 to $70.00 in a report on Wednesday, April 20th. Zacks Investment Research downgraded shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Monday. Ladenburg Thalmann upgraded shares of Badger Meter from a “sell” rating to a “neutral” rating and set a $61.00 price objective on the stock in a report on Thursday, May 5th. Finally, Sidoti initiated coverage on shares of Badger Meter in a report on Tuesday, April 12th. They issued a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $63.80.

The firm has a market cap of $1.03 billion and a price-to-earnings ratio of 34.31. The company’s 50-day moving average is $73.03 and its 200-day moving average is $67.44.

Badger Meter (NYSE:BMI) last issued its earnings results on Thursday, July 21st. The company reported $0.65 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.65. The firm earned $102.80 million during the quarter, compared to the consensus estimate of $104.54 million. Badger Meter’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. Analysts anticipate that Badger Meter Inc. will post $2.36 EPS for the current fiscal year.

In related news, VP Beverly L. P. Smiley sold 500 shares of the stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $71.00, for a total value of $35,500.00. Following the transaction, the vice president now directly owns 49,000 shares in the company, valued at approximately $3,479,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Fred J. Begale sold 460 shares of the stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $70.67, for a total value of $32,508.20. Following the completion of the transaction, the vice president now owns 1,336 shares in the company, valued at $94,415.12. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of the company. KBC Group NV boosted its position in shares of Badger Meter by 63.5% in the fourth quarter. KBC Group NV now owns 55,706 shares of the company’s stock worth $3,264,000 after buying an additional 21,641 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Badger Meter by 0.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 47,328 shares of the company’s stock worth $2,773,000 after buying an additional 275 shares in the last quarter. US Bancorp DE boosted its position in shares of Badger Meter by 0.4% in the fourth quarter. US Bancorp DE now owns 28,161 shares of the company’s stock worth $1,650,000 after buying an additional 117 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Badger Meter by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 164,692 shares of the company’s stock worth $9,650,000 after buying an additional 35,793 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Badger Meter by 7.5% in the fourth quarter. Rhumbline Advisers now owns 19,107 shares of the company’s stock worth $1,119,000 after buying an additional 1,330 shares in the last quarter.

Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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