Badger Meter, Inc. (NYSE:BMI) – Stock analysts at Gabelli lifted their FY2020 earnings estimates for Badger Meter in a research report issued on Wednesday. Gabelli analyst J. Garza now forecasts that the scientific and technical instruments company will post earnings per share of $1.80 for the year, up from their previous forecast of $1.55.
Several other brokerages have also recently weighed in on BMI. Zacks Investment Research raised shares of Badger Meter from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Thursday, January 18th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $43.00 price target (down previously from $49.00) on shares of Badger Meter in a research report on Tuesday, October 17th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $44.00 price target on shares of Badger Meter in a research report on Tuesday, October 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Badger Meter currently has an average rating of “Hold” and an average price target of $51.60.
Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, February 6th. The scientific and technical instruments company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Badger Meter had a net margin of 8.59% and a return on equity of 12.78%. The firm had revenue of $96.65 million during the quarter, compared to analysts’ expectations of $98.08 million. During the same quarter in the prior year, the company earned $0.21 EPS. The company’s revenue was up 3.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.11%. Badger Meter’s payout ratio is 44.07%.
In related news, CFO Richard E. Johnson sold 7,200 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $45.55, for a total transaction of $327,960.00. Following the completion of the sale, the chief financial officer now owns 105,976 shares of the company’s stock, valued at $4,827,206.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Fred J. Begale sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $45.60, for a total transaction of $91,200.00. Following the transaction, the vice president now owns 7,609 shares in the company, valued at approximately $346,970.40. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of BMI. Copeland Capital Management LLC acquired a new position in Badger Meter during the 4th quarter valued at approximately $8,381,000. BlackRock Inc. increased its stake in shares of Badger Meter by 3.5% in the fourth quarter. BlackRock Inc. now owns 3,679,398 shares of the scientific and technical instruments company’s stock worth $175,875,000 after acquiring an additional 124,253 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Badger Meter by 16.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 666,590 shares of the scientific and technical instruments company’s stock worth $31,863,000 after acquiring an additional 94,609 shares during the period. KAMES CAPITAL plc acquired a new stake in shares of Badger Meter in the fourth quarter worth $2,678,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Badger Meter in the third quarter worth $2,305,000. Institutional investors and hedge funds own 83.95% of the company’s stock.
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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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