Badger Meter, Inc. (NYSE:BMI)‘s stock had its “hold” rating reaffirmed by equities researchers at Canaccord Genuity in a research note issued on Wednesday. They currently have a $37.00 price objective on the scientific and technical instruments company’s stock. Canaccord Genuity’s target price suggests a potential downside of 3.90% from the stock’s previous close.

Separately, Zacks Investment Research lowered Badger Meter from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th.

Badger Meter (NYSE:BMI) traded up 1.30% on Wednesday, reaching $39.00. 13,439 shares of the company’s stock were exchanged. Badger Meter has a 1-year low of $29.30 and a 1-year high of $41.70. The company has a 50 day moving average price of $38.01 and a 200-day moving average price of $37.03. The company has a market capitalization of $1.14 billion, a PE ratio of 34.51 and a beta of 0.55.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Wednesday, April 19th. The scientific and technical instruments company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $101.60 million during the quarter, compared to analysts’ expectations of $102.63 million. Badger Meter had a return on equity of 13.01% and a net margin of 8.20%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities research analysts anticipate that Badger Meter will post $1.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, May 26th. Badger Meter’s payout ratio is 41.44%.

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In other Badger Meter news, VP Kimberly K. Stoll sold 1,544 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $34.61, for a total value of $53,437.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard E. Johnson sold 28,004 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $41.34, for a total value of $1,157,685.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,046 shares of company stock worth $4,415,623. 4.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in BMI. Essex Investment Management Co. LLC increased its stake in shares of Badger Meter by 7.1% in the third quarter. Essex Investment Management Co. LLC now owns 24,592 shares of the scientific and technical instruments company’s stock worth $824,000 after buying an additional 1,624 shares during the period. BlackRock Investment Management LLC increased its stake in shares of Badger Meter by 99.5% in the third quarter. BlackRock Investment Management LLC now owns 117,830 shares of the scientific and technical instruments company’s stock worth $3,948,000 after buying an additional 58,780 shares during the period. BlackRock Inc. increased its stake in shares of Badger Meter by 123.5% in the third quarter. BlackRock Inc. now owns 14,656 shares of the scientific and technical instruments company’s stock worth $490,000 after buying an additional 8,099 shares during the period. Rhumbline Advisers increased its stake in shares of Badger Meter by 111.3% in the third quarter. Rhumbline Advisers now owns 40,690 shares of the scientific and technical instruments company’s stock worth $1,364,000 after buying an additional 21,435 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Badger Meter by 103.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,440 shares of the scientific and technical instruments company’s stock worth $216,000 after buying an additional 3,270 shares during the period. 77.81% 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.

12 Month Chart for NYSE:BMI

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