Badger Meter (NYSE:BMI) Cut to Hold at Argus

Argus cut shares of Badger Meter (NYSE:BMI) from a buy rating to a hold rating in a report published on Monday morning, MarketBeat Ratings reports.

BMI has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $167.00 price objective on shares of Badger Meter in a report on Thursday, January 29th. Jefferies Financial Group dropped their target price on Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Barclays set a $136.00 price objective on shares of Badger Meter and gave the company an “underweight” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. dropped their price objective on Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, January 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $191.00 price objective (down previously from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Badger Meter presently has a consensus rating of “Hold” and an average target price of $181.88.

Badger Meter Trading Down 0.8%

NYSE BMI opened at $146.26 on Monday. The firm has a market capitalization of $4.31 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. The firm’s fifty day moving average price is $172.90 and its two-hundred day moving average price is $179.57. Badger Meter has a 1 year low of $139.14 and a 1 year high of $256.08.

Badger Meter (NYSE:BMI) last issued its earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The firm had revenue of $220.71 million during the quarter, compared to the consensus estimate of $232.30 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 earnings per share. On average, research analysts anticipate that Badger Meter will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were given a $0.40 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.60 annualized dividend and a yield of 1.1%. Badger Meter’s dividend payout ratio (DPR) is currently 33.33%.

Hedge Funds Weigh In On Badger Meter

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund grew its stake in shares of Badger Meter by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,742 shares of the scientific and technical instruments company’s stock worth $1,176,000 after purchasing an additional 100 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Badger Meter in the fourth quarter valued at about $235,000. KLCM Advisors Inc. lifted its stake in shares of Badger Meter by 100.0% in the fourth quarter. KLCM Advisors Inc. now owns 3,200 shares of the scientific and technical instruments company’s stock worth $558,000 after acquiring an additional 1,600 shares during the period. Swiss Life Asset Management Ltd boosted its holdings in Badger Meter by 12.0% in the fourth quarter. Swiss Life Asset Management Ltd now owns 55,988 shares of the scientific and technical instruments company’s stock valued at $9,765,000 after acquiring an additional 6,002 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC increased its position in Badger Meter by 19.9% during the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 1,409 shares of the scientific and technical instruments company’s stock valued at $246,000 after purchasing an additional 234 shares during the period. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Company Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.