Badger Meter, Inc. (BMI) Receives $44.50 Average Price Target from Analysts
Shares of Badger Meter, Inc. (NYSE:BMI) have received a consensus rating of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $44.00.
A number of research firms have commented on BMI. Sidoti restated a “buy” rating and set a $52.00 price target (up from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. BidaskClub upgraded Badger Meter from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research cut Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus began coverage on Badger Meter in a research note on Monday. They set a “hold” rating and a $43.00 price target on the stock. Finally, Boenning Scattergood restated a “hold” rating on shares of Badger Meter in a research note on Friday, July 21st.
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In other news, Director Andrew J. Policano sold 8,850 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $45.67, for a total value of $404,179.50. Following the sale, the director now directly owns 32,561 shares in the company, valued at $1,487,060.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Beverly L. P. Smiley sold 7,550 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $45.26, for a total value of $341,713.00. Following the completion of the sale, the vice president now owns 56,449 shares in the company, valued at $2,554,881.74. The disclosure for this sale can be found here. Insiders have sold 63,340 shares of company stock worth $2,859,651 over the last 90 days. 4.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake 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 valued at $128,499,000 after acquiring an additional 3,482,197 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Badger Meter by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,828,174 shares of the scientific and technical instruments company’s stock valued at $112,703,000 after acquiring an additional 33,137 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Badger Meter by 2.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,658,855 shares of the scientific and technical instruments company’s stock valued at $66,105,000 after acquiring an additional 41,724 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Badger Meter by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock valued at $44,926,000 after acquiring an additional 10,712 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake 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 valued at $35,077,000 after acquiring an additional 244,086 shares in the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.
Shares of Badger Meter (NYSE BMI) traded up 1.07% during midday trading on Monday, hitting $47.10. The company had a trading volume of 28,254 shares. Badger Meter has a 12 month low of $29.30 and a 12 month high of $47.15. The company has a 50-day moving average of $45.01 and a 200-day moving average of $40.39. The company has a market capitalization of $1.37 billion, a PE ratio of 39.92 and a beta of 0.57.
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, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $104.17 million during 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 for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. Analysts predict that Badger Meter will post $1.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.12%. This is a boost from Badger Meter’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, August 29th. Badger Meter’s dividend payout ratio is 44.44%.
Badger Meter Company Profile
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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