Badger Meter, Inc. (NYSE:BMI) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other brokerages also recently weighed in on BMI. Canaccord Genuity reiterated a “hold” rating and issued a $37.00 price objective on shares of Badger Meter in a research report on Wednesday, May 24th. Zacks Investment Research raised shares of Badger Meter from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Sidoti reissued a “buy” rating and set a $52.00 target price (up previously from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a research note on Friday, July 21st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $42.00.

Badger Meter (NYSE BMI) opened at 44.50 on Tuesday. The firm’s 50-day moving average is $42.05 and its 200 day moving average is $38.76. Badger Meter has a 12 month low of $29.30 and a 12 month high of $46.85. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 37.71 and a beta of 0.56.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm had revenue of $104.17 million for the quarter, compared to the consensus estimate of $108.02 million. Badger Meter had a net margin of 8.67% and a return on equity of 13.19%. Badger Meter’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. Equities analysts predict that Badger Meter will post $1.29 earnings per share for the current year.

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In other Badger Meter news, VP Beverly L. P. Smiley sold 19,610 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $45.14, for a total transaction of $885,195.40. Following the transaction, the vice president now owns 68,926 shares of the company’s stock, valued at approximately $3,111,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard A. Meeusen sold 4,301 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $40.29, for a total transaction of $173,287.29. Following the transaction, the chairman now directly owns 172,724 shares in the company, valued at approximately $6,959,049.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,776 shares of company stock worth $3,858,414. 4.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in BMI. UBS Asset Management Americas Inc. boosted its position in Badger Meter by 8.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 461,522 shares of the scientific and technical instruments company’s stock valued at $17,053,000 after buying an additional 34,806 shares during the last quarter. NGAM Advisors L.P. boosted its position in Badger Meter by 3.7% in the second quarter. NGAM Advisors L.P. now owns 133,905 shares of the scientific and technical instruments company’s stock valued at $5,336,000 after buying an additional 4,834 shares during the last quarter. Norges Bank bought a new position in Badger Meter during the fourth quarter valued at approximately $3,994,000. Louisiana State Employees Retirement System boosted its position in Badger Meter by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the scientific and technical instruments company’s stock valued at $437,000 after buying an additional 200 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Badger Meter by 2.4% in the first quarter. Gamco Investors INC. ET AL now owns 192,600 shares of the scientific and technical instruments company’s stock valued at $7,078,000 after buying an additional 4,500 shares during the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

About Badger Meter

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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