Badger Meter (NYSE:BMI) Trading 5.7% Higher on Analyst Upgrade

Badger Meter, Inc. (NYSE:BMI)’s share price rose 5.7% during mid-day trading on Monday after Robert W. Baird upgraded the stock from a neutral rating to an outperform rating. Robert W. Baird now has a $173.00 price target on the stock, up from their previous price target of $165.00. Badger Meter traded as high as $154.68 and last traded at $154.0670. Approximately 69,961 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 402,417 shares. The stock had previously closed at $145.81.

A number of other research firms have also recently weighed in on BMI. Stifel Nicolaus set a $166.00 price target on Badger Meter and gave the stock a “buy” rating in a report on Thursday, January 29th. Barclays set a $136.00 price objective on Badger Meter and gave the stock an “underweight” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. decreased their target price on Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, January 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $167.00 price target on shares of Badger Meter in a research report on Thursday, January 29th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Badger Meter presently has an average rating of “Hold” and a consensus price target of $182.88.

Insider Buying and Selling at Badger Meter

In related news, EVP Robert Wrocklage bought 1,650 shares of Badger Meter stock in a transaction that occurred on Monday, February 9th. The shares were purchased at an average price of $152.35 per share, with a total value of $251,377.50. Following the purchase, the executive vice president owned 19,541 shares in the company, valued at $2,977,071.35. This represents a 9.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Fred J. Begale sold 2,064 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $150.00, for a total value of $309,600.00. Following the sale, the vice president owned 3,040 shares in the company, valued at approximately $456,000. This trade represents a 40.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,989 shares of company stock valued at $596,002. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Badger Meter

A number of institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC acquired a new position in Badger Meter in the 4th quarter valued at about $227,000. NewEdge Advisors LLC boosted its stake in shares of Badger Meter by 328.0% during 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 during the last quarter. Cetera Investment Advisers boosted its stake in shares of Badger Meter by 10.6% during 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 during the last quarter. American Century Companies Inc. grew its holdings in shares of Badger Meter by 11.0% during the second quarter. American Century Companies Inc. now owns 19,320 shares of the scientific and technical instruments company’s stock worth $4,732,000 after buying an additional 1,909 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Badger Meter by 8.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,638,000 after buying an additional 549 shares in the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Price Performance

The business’s 50-day moving average price is $153.25 and its two-hundred day moving average price is $169.58. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.01). Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The firm had revenue of $220.71 million for the quarter, compared to analysts’ expectations of $232.30 million. During the same period in the previous year, the company posted $1.04 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, February 27th. Badger Meter’s dividend payout ratio is currently 33.33%.

Badger Meter Company Profile

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.