Analysts Set Badger Meter Inc. (BMI) Price Target at $31.50
Badger Meter Inc. (NYSE:BMI) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the company. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.50.
Separately, Zacks Investment Research raised Badger Meter from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Wednesday, September 21st.
Badger Meter (NYSE:BMI) opened at 34.80 on Tuesday. The stock’s 50 day moving average is $32.94 and its 200 day moving average is $34.77. Badger Meter has a 52 week low of $26.40 and a 52 week high of $39.36. The company has a market capitalization of $1.01 billion, a PE ratio of 31.93 and a beta of 0.55.
Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. The company earned $96.30 million during the quarter, compared to analyst estimates of $105.66 million. Badger Meter had a return on equity of 13.07% and a net margin of 7.99%. Badger Meter’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. Analysts predict that Badger Meter will post $1.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, November 28th. Badger Meter’s dividend payout ratio (DPR) is presently 42.20%.
In other news, insider Ronald H. Dix sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $68.72, for a total transaction of $137,440.00. Following the completion of the sale, the insider now owns 28,300 shares in the company, valued at $1,944,776. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Fred J. Begale sold 1,720 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $66.00, for a total value of $113,520.00. Following the sale, the vice president now owns 2,336 shares of the company’s stock, valued at approximately $154,176. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in BMI. Price T Rowe Associates Inc. MD increased its stake in Badger Meter by 15.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,109,808 shares of the company’s stock valued at $70,700,000 after buying an additional 274,799 shares in the last quarter. Mairs & Power INC increased its stake in Badger Meter by 111.3% in the third quarter. Mairs & Power INC now owns 2,072,564 shares of the company’s stock valued at $69,452,000 after buying an additional 1,091,924 shares in the last quarter. BlackRock Fund Advisors increased its stake in Badger Meter by 113.9% in the third quarter. BlackRock Fund Advisors now owns 1,954,855 shares of the company’s stock valued at $65,507,000 after buying an additional 1,041,038 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Badger Meter by 138.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,502,873 shares of the company’s stock valued at $50,362,000 after buying an additional 873,102 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Badger Meter by 2.7% in the second quarter. Vanguard Group Inc. now owns 1,242,957 shares of the company’s stock valued at $90,772,000 after buying an additional 32,689 shares in the last quarter. Hedge funds and other institutional investors own 51.65% of the company’s stock.
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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