Stifel Nicolaus assumed coverage on shares of Badger Meter, Inc. (NYSE:BMI) in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage issued a hold rating and a $43.00 target price on the scientific and technical instruments company’s stock.

A number of other research analysts have also issued reports on the stock. BidaskClub lowered shares of Badger Meter from a buy rating to a hold rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded shares of Badger Meter from a sell rating to a hold rating in a research note on Wednesday, June 21st. Canaccord Genuity reiterated a hold rating and set a $37.00 price target on shares of Badger Meter in a research note on Wednesday, May 24th. Boenning Scattergood reiterated a hold rating on shares of Badger Meter in a research note on Friday, July 21st. Finally, Sidoti reiterated a buy rating and set a $52.00 price target (up from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $44.00.

Badger Meter (BMI) opened at 47.35 on Monday. The firm has a market capitalization of $1.38 billion, a P/E ratio of 40.13 and a beta of 0.57. Badger Meter has a 52-week low of $29.30 and a 52-week high of $47.70. The company has a 50 day moving average price of $45.01 and a 200 day moving average price of $40.39.

Badger Meter (NYSE:BMI) last announced its earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Badger Meter had a net margin of 8.67% and a return on equity of 13.19%. The business had revenue of $104.17 million during the quarter, compared to analysts’ expectations of $108.02 million. During the same period in the prior year, the company earned $0.65 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, equities analysts forecast that Badger Meter will post $1.28 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.10%. This is a positive change from Badger Meter’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, August 29th. Badger Meter’s payout ratio is 44.44%.

In other Badger Meter news, Chairman Richard A. Meeusen sold 16,500 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $44.61, for a total transaction of $736,065.00. Following the transaction, the chairman now directly owns 164,620 shares in the company, valued at $7,343,698.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kimberly K. Stoll sold 2,830 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $45.01, for a total transaction of $127,378.30. Following the transaction, the vice president now owns 12,223 shares in the company, valued at $550,157.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,340 shares of company stock worth $2,859,651. Company insiders own 4.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of BMI. Teachers Advisors LLC grew its position in Badger Meter by 16.1% during the fourth quarter. Teachers Advisors LLC now owns 52,418 shares of the scientific and technical instruments company’s stock worth $1,937,000 after buying an additional 7,256 shares during the period. Bank of Montreal Can grew its position in Badger Meter by 1.3% during the first quarter. Bank of Montreal Can now owns 17,215 shares of the scientific and technical instruments company’s stock worth $633,000 after buying an additional 221 shares during the period. Louisiana State Employees Retirement System grew its position in Badger Meter by 1.7% during the first quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the scientific and technical instruments company’s stock worth $437,000 after buying an additional 200 shares during the period. Great West Life Assurance Co. Can grew its position in Badger Meter by 6.5% during the first quarter. Great West Life Assurance Co. Can now owns 39,846 shares of the scientific and technical instruments company’s stock worth $1,463,000 after buying an additional 2,436 shares during the period. Finally, First Trust Advisors LP grew its position in Badger Meter by 19.5% during the first quarter. First Trust Advisors LP now owns 165,712 shares of the scientific and technical instruments company’s stock worth $6,090,000 after buying an additional 27,063 shares during the period. Institutional investors own 83.96% of the company’s stock.

Badger Meter Company Profile

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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