BidaskClub Upgrades Badger Meter, Inc. (BMI) to Buy
BidaskClub upgraded shares of Badger Meter, Inc. (NYSE:BMI) from a hold rating to a buy rating in a report published on Monday, July 24th.
BMI has been the topic of several other research reports. Zacks Investment Research lowered Badger Meter from a hold rating to a sell rating in a research report on Tuesday, April 11th. Boenning Scattergood reaffirmed a hold rating on shares of Badger Meter in a research report on Friday, July 21st. Sidoti reaffirmed a buy rating and set a $52.00 price target (up previously from $50.00) on shares of Badger Meter in a research report on Monday, June 19th. Finally, Canaccord Genuity reaffirmed a hold rating and set a $37.00 price target on shares of Badger Meter in a research report on Wednesday, May 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Badger Meter presently has an average rating of Hold and a consensus target price of $42.00.
Shares of Badger Meter (NYSE:BMI) traded up 0.45% during trading on Monday, reaching $44.20. 115,288 shares of the company traded hands. Badger Meter has a 1-year low of $29.30 and a 1-year high of $46.85. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 37.46 and a beta of 0.56. The stock’s 50 day moving average is $42.99 and its 200 day moving average is $39.05.
Badger Meter (NYSE:BMI) last released its quarterly earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $104.17 million for the quarter, compared to analyst estimates of $108.02 million. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, analysts forecast that Badger Meter will post $1.29 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Badger Meter’s previous quarterly dividend of $0.12. Badger Meter’s payout ratio is presently 39.32%.
In other news, VP Beverly L. P. Smiley sold 19,610 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $45.14, for a total value of $885,195.40. Following the transaction, the vice president now owns 68,926 shares of the company’s stock, valued at $3,111,319.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ronald H. Dix sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $41.07, for a total value of $82,140.00. Following the completion of the transaction, the insider now directly owns 43,000 shares in the company, valued at approximately $1,766,010. The disclosure for this sale can be found here. In the last three months, insiders sold 90,776 shares of company stock worth $3,858,414. Corporate insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Badger Meter by 24,345.9% in the first quarter. BlackRock Inc. now owns 3,496,500 shares of the scientific and technical instruments company’s stock worth $128,499,000 after buying an additional 3,482,197 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Badger Meter during the first quarter worth $15,061,000. Goldman Sachs Group Inc. raised its position in shares of Badger Meter by 34.4% in the first quarter. Goldman Sachs Group Inc. now owns 954,492 shares of the scientific and technical instruments company’s stock worth $35,077,000 after buying an additional 244,086 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Badger Meter by 6.9% in the first quarter. Vanguard Group Inc. now owns 2,795,037 shares of the scientific and technical instruments company’s stock worth $102,718,000 after buying an additional 180,585 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Badger Meter by 833.4% in the first quarter. Parametric Portfolio Associates LLC now owns 130,818 shares of the scientific and technical instruments company’s stock worth $4,808,000 after buying an additional 116,803 shares in the last quarter. 84.14% 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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