Badger Meter Inc. (BMI) Receives Average Rating of “Hold” from Brokerages
Shares of Badger Meter Inc. (NYSE:BMI) have been given a consensus recommendation of “Hold” by the six research firms that are covering the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $32.88.
Separately, Zacks Investment Research raised Badger Meter from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Wednesday, September 21st.
In other Badger Meter news, insider Ronald H. Dix sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $66.12, for a total value of $105,792.00. Following the completion of the sale, the insider now owns 25,700 shares in the company, valued at approximately $1,699,284. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William R. A. Bergum sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $65.09, for a total value of $146,452.50. Following the completion of the sale, the vice president now owns 4,432 shares of the company’s stock, valued at approximately $288,478.88. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.
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Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Badger Meter by 333.4% in the third quarter. BNP Paribas Arbitrage SA now owns 20,177 shares of the company’s stock worth $676,000 after buying an additional 15,521 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Badger Meter during the second quarter worth approximately $208,000. Schwab Charles Investment Management Inc. increased its stake in shares of Badger Meter by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 50,069 shares of the company’s stock worth $3,657,000 after buying an additional 804 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Badger Meter during the second quarter worth approximately $431,000. Finally, Arizona State Retirement System increased its stake in shares of Badger Meter by 2.7% in the second quarter. Arizona State Retirement System now owns 7,597 shares of the company’s stock worth $555,000 after buying an additional 200 shares in the last quarter. Institutional investors own 39.81% of the company’s stock.
Badger Meter (NYSE:BMI) traded down 1.98% during midday trading on Tuesday, hitting $32.75. The company had a trading volume of 35,311 shares. Badger Meter has a one year low of $26.40 and a one year high of $39.36. The company’s 50 day moving average is $33.29 and its 200-day moving average is $35.02. The company has a market cap of $952.93 million, a P/E ratio of 30.32 and a beta of 0.63.
Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.65 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.65. The business had revenue of $102.80 million for the quarter, compared to analyst estimates of $104.54 million. Badger Meter had a return on equity of 13.19% and a net margin of 7.81%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, equities analysts predict that Badger Meter will post $1.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.23 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.75%. This is a positive change from Badger Meter’s previous quarterly dividend of $0.20. Badger Meter’s dividend payout ratio (DPR) is 42.59%.
Badger Meter Company Profile
Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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