Badger Meter Inc. (BMI) Shares Down 3.3%
Shares of Badger Meter Inc. (NYSE:BMI) dropped 3.3% during mid-day trading on Monday . The stock traded as low as $66.59 and last traded at $68.75, with a volume of 95,905 shares. The stock had previously closed at $71.10.
BMI has been the topic of several recent analyst reports. Zacks Investment Research upgraded Badger Meter from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Thursday, April 21st. Robert W. Baird downgraded Badger Meter from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $67.00 to $70.00 in a report on Wednesday, April 20th. Sterne Agee CRT restated a “neutral” rating on shares of Badger Meter in a report on Monday, May 16th. Finally, Ladenburg Thalmann upgraded 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. Seven equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus target price of $63.80.
The firm has a market cap of $1.01 billion and a P/E ratio of 32.21. The firm’s 50-day moving average price is $71.42 and its 200 day moving average price is $69.46. Badger Meter shares are going to split on the morning of Friday, September 16th. The 2-1 split was announced on Friday, August 12th. The newly minted shares will be issued to shareholders after the market closes on Thursday, September 15th.
Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.65. The firm earned $102.80 million during the quarter, compared to the consensus estimate of $104.54 million. During the same quarter in the prior year, the business earned $0.55 EPS. Badger Meter’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that Badger Meter Inc. will post $2.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Monday, August 29th. This is a boost from Badger Meter’s previous quarterly dividend of $0.20.
A number of institutional investors have recently bought and sold shares of the stock. KBC Group NV boosted its position in Badger Meter by 63.5% in the fourth quarter. KBC Group NV now owns 55,706 shares of the company’s stock valued at $3,264,000 after buying an additional 21,641 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Badger Meter by 0.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 47,328 shares of the company’s stock valued at $2,773,000 after buying an additional 275 shares in the last quarter. US Bancorp DE boosted its position in Badger Meter by 0.4% in the fourth quarter. US Bancorp DE now owns 28,161 shares of the company’s stock valued at $1,650,000 after buying an additional 117 shares in the last quarter. Wells Fargo & Company MN boosted its position in Badger Meter by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 164,692 shares of the company’s stock valued at $9,650,000 after buying an additional 35,793 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Badger Meter by 7.5% in the fourth quarter. Rhumbline Advisers now owns 19,107 shares of the company’s stock valued at $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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