Badger Meter, Inc. (NYSE:BMI) Given Average Rating of “Hold” by Brokerages

Shares of Badger Meter, Inc. (NYSE:BMI) have received a consensus rating of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $155.8571.

BMI has been the topic of a number of recent research reports. Barclays set a $110.00 target price on shares of Badger Meter and gave the company an “underweight” rating in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $167.00 target price on shares of Badger Meter in a report on Thursday, January 29th. Maxim Group lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of Badger Meter from $190.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Finally, Royal Bank Of Canada reduced their target price on shares of Badger Meter from $197.00 to $169.00 and set an “outperform” rating on the stock in a report on Monday, April 20th.

Badger Meter Trading Down 0.0%

NYSE:BMI opened at $121.92 on Monday. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 2.19 and a beta of 0.68. The company’s 50-day moving average is $145.86 and its two-hundred day moving average is $163.76. Badger Meter has a 12-month low of $112.09 and a 12-month high of $256.08.

Badger Meter (NYSE:BMI) last released its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter. The company had revenue of $220.71 million for the quarter. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. On average, equities research analysts forecast that Badger Meter will post 4.5 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, May 22nd. Badger Meter’s dividend payout ratio is presently 36.12%.

Insider Buying and Selling at Badger Meter

In other news, VP Fred J. Begale sold 2,064 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $150.00, for a total transaction of $309,600.00. Following the transaction, the vice president directly owned 3,040 shares in the company, valued at $456,000. This represents a 40.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kenneth Bockhorst acquired 3,300 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were bought at an average price of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the acquisition, the chief executive officer owned 40,013 shares in the company, valued at approximately $6,098,781.46. This trade represents a 8.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 11,578 shares of company stock worth $1,531,492 and sold 3,989 shares worth $596,002. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BMI. Brighton Jones LLC purchased a new position in shares of Badger Meter during the 4th quarter worth about $227,000. NewEdge Advisors LLC lifted its holdings in shares of Badger Meter by 328.0% during the 1st quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock worth $717,000 after acquiring an additional 2,886 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Badger Meter by 10.6% during the 2nd quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company’s stock worth $572,000 after acquiring an additional 223 shares during the period. M&T Bank Corp purchased a new position in shares of Badger Meter during the 2nd quarter worth about $200,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Badger Meter by 11.2% during the 2nd quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company’s stock worth $12,303,000 after acquiring an additional 5,041 shares during the period. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

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.