Badger Meter, Inc. (BMI) Receives Consensus Rating of “Hold” from Brokerages
Badger Meter, Inc. (NYSE:BMI) has earned an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $49.33.
A number of equities research analysts have issued reports on the company. Canaccord Genuity restated a “hold” rating and set a $40.00 price objective on shares of Badger Meter in a research report on Friday, October 6th. Sidoti increased their price target on Badger Meter from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research downgraded Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 20th. Stifel Nicolaus started coverage on Badger Meter in a report on Monday, September 18th. They issued a “hold” rating and a $43.00 price target on the stock. Finally, BidaskClub upgraded Badger Meter from a “hold” rating to a “buy” rating in a report on Thursday, August 17th.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. The business had revenue of $104.17 million for the quarter, compared to the consensus estimate of $108.02 million. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.01%. This is an increase from Badger Meter’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, August 29th. Badger Meter’s dividend payout ratio is presently 44.44%.
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In other news, Director Andrew J. Policano sold 8,850 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is available at this link. Also, VP Kimberly K. Stoll sold 2,830 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $45.01, for a total value of $127,378.30. Following the completion of the sale, the vice president now owns 12,223 shares in the company, valued at $550,157.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,340 shares of company stock worth $2,859,651. Company insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. First Personal Financial Services purchased a new stake in shares of Badger Meter in the second quarter worth approximately $119,000. SG Americas Securities LLC bought a new position in Badger Meter in the second quarter worth approximately $140,000. Pinebridge Investments L.P. grew its stake in Badger Meter by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 3,836 shares of the scientific and technical instruments company’s stock worth $153,000 after purchasing an additional 38 shares in the last quarter. Victory Capital Management Inc. grew its stake in Badger Meter by 33.2% in the first quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock worth $164,000 after purchasing an additional 1,116 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Badger Meter by 78.2% in the second quarter. State of Alaska Department of Revenue now owns 5,721 shares of the scientific and technical instruments company’s stock worth $227,000 after purchasing an additional 2,511 shares in the last quarter. Hedge funds and other institutional investors own 83.96% of the company’s stock.
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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