Badger Meter (NYSE:BMI) Hits New 52-Week Low – Here’s Why

Badger Meter, Inc. (NYSE:BMI)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $150.00 and last traded at $147.52, with a volume of 5404 shares changing hands. The stock had previously closed at $164.41.

Wall Street Analysts Forecast Growth

BMI has been the subject of several analyst reports. Jefferies Financial Group began coverage on shares of Badger Meter in a research note on Friday, December 12th. They issued a “buy” rating and a $220.00 price objective for the company. Barclays set a $157.00 price objective on shares of Badger Meter and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a research note on Wednesday, January 21st. Royal Bank Of Canada set a $229.00 price objective on shares of Badger Meter and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Robert W. Baird set a $205.00 target price on Badger Meter and gave the company a “neutral” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.25.

Badger Meter Price Performance

The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.63 and a beta of 0.91. The business’s fifty day simple moving average is $176.31 and its 200 day simple moving average is $183.13.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.14. Badger Meter had a net margin of 15.40% and a return on equity of 21.12%. During the same period in the prior year, the company posted $1.04 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. Equities research analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, November 21st. Badger Meter’s dividend payout ratio is 34.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BMI. Vanguard Group Inc. lifted its stake in shares of Badger Meter by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,960,308 shares of the scientific and technical instruments company’s stock valued at $707,232,000 after buying an additional 145,389 shares in the last quarter. State Street Corp grew its stake in Badger Meter by 1.4% during the second quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company’s stock valued at $358,315,000 after acquiring an additional 20,122 shares in the last quarter. Invesco Ltd. increased its holdings in Badger Meter by 20.9% during the 3rd quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company’s stock worth $173,262,000 after acquiring an additional 168,053 shares during the period. Geode Capital Management LLC increased its holdings in Badger Meter by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 876,519 shares of the scientific and technical instruments company’s stock worth $215,464,000 after acquiring an additional 19,340 shares during the period. Finally, Westfield Capital Management Co. LP lifted its stake in Badger Meter by 78.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock worth $150,108,000 after purchasing an additional 268,799 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

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.