Badger Meter (NYSE:BMI) VP Purchases $101,572.75 in Stock

Badger Meter, Inc. (NYSE:BMIGet Free Report) VP Edward Callahan bought 751 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was purchased at an average cost of $135.25 per share, with a total value of $101,572.75. Following the purchase, the vice president owned 1,937 shares of the company’s stock, valued at $261,979.25. This represents a 63.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Badger Meter Price Performance

NYSE BMI traded up $3.73 on Friday, reaching $134.12. 636,165 shares of the company’s stock traded hands, compared to its average volume of 519,983. Badger Meter, Inc. has a 12 month low of $112.09 and a 12 month high of $204.00. The stock has a 50-day simple moving average of $135.42 and a 200 day simple moving average of $142.54. The stock has a market cap of $3.89 billion, a PE ratio of 31.34, a P/E/G ratio of 2.44 and a beta of 0.64.

Badger Meter (NYSE:BMIGet Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. The firm had revenue of $220.30 million for the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. As a group, analysts anticipate that Badger Meter, Inc. will post 4.43 EPS for the current year.

Hedge Funds Weigh In On Badger Meter

Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC purchased a new stake in Badger Meter in the fourth quarter worth $227,000. NewEdge Advisors LLC raised its holdings in Badger Meter by 328.0% in the 1st quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock worth $717,000 after purchasing an additional 2,886 shares in the last quarter. Cetera Investment Advisers raised its holdings in Badger Meter by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company’s stock worth $572,000 after purchasing an additional 223 shares in the last quarter. M&T Bank Corp bought a new position in Badger Meter in the 2nd quarter worth $200,000. Finally, California Public Employees Retirement System lifted its position in shares of Badger Meter by 11.2% in the 2nd quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company’s stock worth $12,303,000 after purchasing an additional 5,041 shares during the period. 89.01% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

BMI has been the topic of several recent analyst reports. Seaport Research Partners set a $160.00 target price on shares of Badger Meter in a report on Thursday, July 23rd. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Robert W. Baird set a $167.00 price target on shares of Badger Meter and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $164.00.

Check Out Our Latest Stock Analysis on BMI

About Badger Meter

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Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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