Equities research analysts at Stifel Nicolaus started coverage on shares of Badger Meter, Inc. (NYSE:BMI) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating and a $43.00 price target on the scientific and technical instruments company’s stock. Stifel Nicolaus’ price target points to a potential downside of 7.03% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. BidaskClub raised Badger Meter from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a research report on Friday, July 21st. Zacks Investment Research raised Badger Meter from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Sidoti reissued 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 reissued a “hold” rating and set a $37.00 price target on shares of Badger Meter in a research report on Wednesday, May 24th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $42.25.

Badger Meter (NYSE:BMI) opened at 46.25 on Monday. Badger Meter has a 12 month low of $29.30 and a 12 month high of $46.85. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 39.19 and a beta of 0.57. The firm’s 50-day moving average price is $45.01 and its 200 day moving average price is $40.39.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. The business had revenue of $104.17 million for the quarter, compared to the consensus estimate of $108.02 million. During the same quarter in the prior year, the company earned $0.65 EPS. The business’s revenue was up .3% compared to the same quarter last year. On average, analysts anticipate that Badger Meter will post $1.28 earnings per share for the current year.

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In related news, VP Beverly L. P. Smiley sold 7,550 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $45.26, for a total transaction of $341,713.00. Following the completion of the sale, the vice president now directly owns 56,449 shares in the company, valued at approximately $2,554,881.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Meeusen sold 16,500 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $44.61, for a total value of $736,065.00. Following the sale, the chairman now owns 164,620 shares of the company’s stock, valued at $7,343,698.20. The disclosure for this sale can be found here. Insiders have sold a total of 63,340 shares of company stock worth $2,859,651 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of BMI. First Personal Financial Services purchased a new stake in shares of Badger Meter during the 2nd quarter worth $119,000. SG Americas Securities LLC purchased a new stake in shares of Badger Meter during the 2nd quarter worth $140,000. Pinebridge Investments L.P. lifted its stake in shares of Badger Meter by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,836 shares of the scientific and technical instruments company’s stock worth $153,000 after purchasing an additional 38 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Badger Meter by 33.2% during the 1st quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock worth $164,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Badger Meter during the 1st quarter worth $213,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.

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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