Canaccord Genuity reiterated their hold rating on shares of Badger Meter, Inc. (NYSE:BMI) in a research note issued to investors on Friday morning. They currently have a $40.00 price target on the scientific and technical instruments company’s stock.

A number of other research firms also recently issued reports on BMI. Sidoti raised their price objective on shares of Badger Meter from $55.00 to $65.00 and gave the stock a buy rating in a report on Thursday. Stifel Nicolaus started coverage on shares of Badger Meter in a report on Monday, September 18th. They set a hold rating and a $43.00 price target on the stock. Zacks Investment Research downgraded shares of Badger Meter from a strong-buy rating to a hold rating in a report on Wednesday, September 20th. BidaskClub raised shares of Badger Meter from a hold rating to a buy rating in a report on Monday, July 24th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Badger Meter in a report on Friday, July 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $49.33.

Shares of Badger Meter (NYSE:BMI) opened at 50.15 on Friday. The firm’s 50 day moving average is $46.61 and its 200 day moving average is $41.57. The company has a market cap of $1.46 billion, a PE ratio of 42.50 and a beta of 0.56. Badger Meter has a 12 month low of $29.30 and a 12 month high of $50.90.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $104.17 million for the quarter, compared to the consensus estimate of $108.02 million. Badger Meter had a net margin of 8.67% and a return on equity of 13.19%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. On average, equities analysts predict that Badger Meter will post $1.28 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.04%. This is an increase from Badger Meter’s previous quarterly dividend of $0.12. Badger Meter’s payout ratio is currently 44.44%.

In other Badger Meter news, VP Kimberly K. Stoll sold 2,830 shares of Badger Meter stock in a transaction that occurred on Wednesday, July 26th. The shares were 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 of the company’s stock, valued at $550,157.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Meeusen sold 16,500 shares of Badger Meter stock in a transaction that occurred on 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 approximately $7,343,698.20. The disclosure for this sale can be found here. Insiders have sold 63,340 shares of company stock worth $2,859,651 in the last ninety days. Insiders own 4.50% of the company’s stock.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Badger Meter by 24,345.9% during the first quarter. BlackRock Inc. now owns 3,496,500 shares of the scientific and technical instruments company’s stock valued at $128,499,000 after purchasing an additional 3,482,197 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Badger Meter by 1.2% during the second quarter. Vanguard Group Inc. now owns 2,828,174 shares of the scientific and technical instruments company’s stock valued at $112,703,000 after purchasing an additional 33,137 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Badger Meter by 2.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,658,855 shares of the scientific and technical instruments company’s stock valued at $66,105,000 after purchasing an additional 41,724 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Badger Meter by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock valued at $44,926,000 after purchasing an additional 10,712 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Badger Meter by 34.4% during the first quarter. Goldman Sachs Group Inc. now owns 954,492 shares of the scientific and technical instruments company’s stock valued at $35,077,000 after purchasing an additional 244,086 shares in the last quarter. 83.96% of the stock is currently owned by institutional investors and hedge funds.

About Badger Meter

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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