Brokerages Set Badger Meter Inc. (BMI) Target Price at $32.88
Badger Meter Inc. (NYSE:BMI) has been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $32.88.
Separately, Zacks Investment Research downgraded Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 18th.
In related news, VP William R. A. Bergum sold 2,250 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $65.09, for a total transaction of $146,452.50. Following the completion of the transaction, the vice president now owns 4,432 shares of the company’s stock, valued at approximately $288,478.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Fred J. Begale sold 1,720 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $66.00, for a total value of $113,520.00. Following the transaction, the vice president now directly owns 2,336 shares of the company’s stock, valued at approximately $154,176. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Badger Meter by 77.4% in the second quarter. Victory Capital Management Inc. now owns 1,403 shares of the company’s stock valued at $102,000 after buying an additional 612 shares in the last quarter. PineBridge Investments L.P. boosted its position in Badger Meter by 3.9% in the second quarter. PineBridge Investments L.P. now owns 1,844 shares of the company’s stock valued at $134,000 after buying an additional 69 shares in the last quarter. Profund Advisors LLC acquired a new position in Badger Meter during the second quarter valued at $200,000. Mason Street Advisors LLC acquired a new position in Badger Meter during the second quarter valued at $208,000. Finally, Bridgeway Capital Management Inc. acquired a new position in Badger Meter during the second quarter valued at $230,000. 39.81% of the stock is owned by institutional investors and hedge funds.
Shares of Badger Meter (NYSE:BMI) opened at 32.74 on Tuesday. The stock has a market capitalization of $952.64 million, a P/E ratio of 30.31 and a beta of 0.63. The firm’s 50-day moving average price is $33.20 and its 200 day moving average price is $34.97. Badger Meter has a 12-month low of $26.40 and a 12-month high of $39.36.
Badger Meter (NYSE:BMI) last issued its earnings results on Thursday, July 21st. The company reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. Badger Meter had a return on equity of 13.19% and a net margin of 7.81%. The firm had revenue of $102.80 million for the quarter, compared to the consensus estimate of $104.54 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts predict that Badger Meter will post $1.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, August 29th. This is an increase from Badger Meter’s previous quarterly dividend of $0.20. Badger Meter’s dividend payout ratio is 42.59%.
About Badger Meter
Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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