Brokerages Set Badger Meter, Inc. (NYSE:BMI) Target Price at $181.88

Badger Meter, Inc. (NYSE:BMI) has been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $181.8750.

Several research analysts have recently commented on the stock. Robert W. Baird set a $165.00 target price on shares of Badger Meter in a report on Thursday, January 29th. JPMorgan Chase & Co. reduced their target price on Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Zacks Research downgraded shares of Badger Meter from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Badger Meter in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $191.00 price objective (down from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th.

Badger Meter Stock Down 0.3%

Shares of NYSE:BMI opened at $148.01 on Friday. The stock has a market cap of $4.32 billion, a PE ratio of 30.84, a P/E/G ratio of 2.38 and a beta of 0.87. The business has a 50 day moving average of $155.99 and a 200-day moving average of $171.10. Badger Meter has a 12-month low of $139.14 and a 12-month high of $256.08.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 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 analyst estimates of $232.30 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 earnings per share. Equities research analysts expect that Badger Meter will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, February 27th. Badger Meter’s payout ratio is presently 33.33%.

Insider Activity at Badger Meter

In other news, VP Kimberly K. Stoll sold 1,634 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total value of $243,482.34. Following the completion of the transaction, the vice president directly owned 3,256 shares in the company, valued at approximately $485,176.56. This represents a 33.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Wrocklage purchased 1,650 shares of Badger Meter stock in a transaction dated Monday, February 9th. The shares were purchased at an average price of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the acquisition, the executive vice president owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. The trade was a 9.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 3,989 shares of company stock valued at $596,002 over the last three months. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Badger Meter

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC acquired a new stake in Badger Meter during the 4th quarter worth about $227,000. NewEdge Advisors LLC boosted 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 buying an additional 2,886 shares in the last quarter. Savant Capital LLC bought a new position in shares of Badger Meter during the 2nd quarter worth approximately $414,000. Geode Capital Management LLC lifted its position in shares of 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 valued at $215,464,000 after acquiring an additional 19,340 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in Badger Meter by 5.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,753 shares of the scientific and technical instruments company’s stock worth $1,654,000 after acquiring an additional 361 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

About Badger Meter

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.