Badger Meter (NYSE:BMI) Reaches New 12-Month High at $191.50

Badger Meter, Inc. (NYSE:BMI)’s stock price reached a new 52-week high on Monday . The company traded as high as $191.50 and last traded at $190.35, with a volume of 9726 shares changing hands. The stock had previously closed at $189.00.

Wall Street Analyst Weigh In

BMI has been the topic of several recent analyst reports. Maxim Group increased their price objective on shares of Badger Meter from $190.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Stifel Nicolaus increased their price target on Badger Meter from $147.00 to $175.00 and gave the company a “hold” rating in a report on Friday, April 19th. Robert W. Baird upped their target price on Badger Meter from $151.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Northcoast Research raised Badger Meter from a “sell” rating to a “neutral” rating in a research report on Thursday, April 18th. Finally, StockNews.com raised shares of Badger Meter from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Badger Meter has an average rating of “Hold” and a consensus target price of $164.80.

Badger Meter Trading Up 0.9 %

The firm has a market capitalization of $5.61 billion, a P/E ratio of 54.47, a P/E/G ratio of 3.12 and a beta of 0.82. The business’s fifty day moving average is $163.88 and its 200 day moving average is $154.07.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.17. The company had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $182.25 million. Badger Meter had a return on equity of 20.26% and a net margin of 13.81%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. As a group, sell-side analysts predict that Badger Meter, Inc. will post 3.89 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.08 annualized dividend and a yield of 0.57%. Badger Meter’s payout ratio is presently 31.12%.

Insider Transactions at Badger Meter

In related news, VP Fred J. Begale sold 1,203 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $162.92, for a total value of $195,992.76. Following the completion of the transaction, the vice president now owns 2,181 shares of the company’s stock, valued at approximately $355,328.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Badger Meter news, VP Fred J. Begale sold 1,203 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $162.92, for a total value of $195,992.76. Following the transaction, the vice president now owns 2,181 shares in the company, valued at approximately $355,328.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP William R. A. Bergum sold 194 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $159.55, for a total transaction of $30,952.70. Following the transaction, the vice president now directly owns 13,672 shares of the company’s stock, valued at approximately $2,181,367.60. The disclosure for this sale can be found here. Insiders have sold a total of 2,813 shares of company stock valued at $448,167 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Badger Meter

Several hedge funds and other institutional investors have recently made changes to their positions in BMI. Asset Management One Co. Ltd. acquired a new stake in shares of Badger Meter during the 3rd quarter worth approximately $35,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Badger Meter by 5.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,080 shares of the scientific and technical instruments company’s stock worth $299,000 after acquiring an additional 110 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Badger Meter by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 363,243 shares of the scientific and technical instruments company’s stock worth $52,260,000 after acquiring an additional 2,093 shares during the period. Bailard Inc. lifted its holdings in shares of Badger Meter by 29.4% in the third quarter. Bailard Inc. now owns 2,924 shares of the scientific and technical instruments company’s stock valued at $421,000 after purchasing an additional 664 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Badger Meter by 3.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,808 shares of the scientific and technical instruments company’s stock worth $32,343,000 after buying an additional 7,836 shares in the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.