Sidoti Raises Badger Meter, Inc. (BMI) Price Target to $65.00
Badger Meter, Inc. (NYSE:BMI) had its price objective raised by Sidoti from $55.00 to $65.00 in a research report report published on Thursday, The Fly reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.
A number of other analysts have also commented on the stock. Zacks Investment Research lowered shares of Badger Meter from a strong-buy rating to a hold rating in a research note on Wednesday, September 20th. Stifel Nicolaus began coverage on shares of Badger Meter in a research note on Monday, September 18th. They set a hold rating and a $43.00 price target for the company. BidaskClub upgraded shares of Badger Meter from a hold rating to a buy rating in a research note on Thursday, August 17th. Finally, Boenning Scattergood restated 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 two have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $49.33.
Badger Meter (BMI) opened at 50.15 on Thursday. Badger Meter has a one year low of $29.30 and a one year high of $50.90. The firm has a market cap of $1.46 billion, a PE ratio of 42.50 and a beta of 0.56. The company’s 50-day moving average is $46.61 and its 200 day moving average is $41.57.
Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $104.17 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. Equities analysts anticipate that Badger Meter will post $1.28 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.04%. This is an increase from Badger Meter’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, August 29th. Badger Meter’s payout ratio is currently 44.44%.
In related news, VP Beverly L. P. Smiley sold 19,610 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $45.14, for a total value of $885,195.40. Following the transaction, the vice president now directly owns 68,926 shares of the company’s stock, valued at approximately $3,111,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Beverly L. P. Smiley sold 7,550 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly 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 a total of 63,340 shares of company stock worth $2,859,651 over the last ninety days. Insiders own 4.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. First Personal Financial Services purchased a new position in shares of Badger Meter in the 2nd quarter worth about $119,000. SG Americas Securities LLC bought a new stake in Badger Meter in the 2nd quarter valued at about $140,000. Pinebridge Investments L.P. raised its stake in Badger Meter by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,836 shares of the scientific and technical instruments company’s stock valued at $153,000 after acquiring an additional 38 shares during the period. Victory Capital Management Inc. raised its stake in Badger Meter by 33.2% in the 1st quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock valued at $164,000 after acquiring an additional 1,116 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Badger Meter by 78.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,721 shares of the scientific and technical instruments company’s stock valued at $227,000 after acquiring an additional 2,511 shares during the period. 83.96% of the stock is currently owned by 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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