Badger Meter, Inc. (NYSE:BMI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Badger Meter, Inc. (NYSE:BMI) have been given an average recommendation of “Hold” by the eleven analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $155.8571.

BMI has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Badger Meter from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Badger Meter in a research report on Thursday, May 21st. Zacks Research lowered shares of Badger Meter from a “hold” rating to a “strong sell” rating in a research report on Friday, June 5th. Stifel Nicolaus set a $140.00 price target on shares of Badger Meter in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Badger Meter from $190.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, April 17th.

Badger Meter Trading Down 0.2%

BMI opened at $135.25 on Tuesday. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.43 and a beta of 0.68. Badger Meter has a 12-month low of $112.09 and a 12-month high of $251.54. The company’s 50 day moving average is $127.50 and its 200 day moving average is $150.22.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter. The business had revenue of $220.71 million during the quarter. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. As a group, analysts predict that Badger Meter will post 4.51 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Badger Meter’s payout ratio is 36.12%.

Insider Transactions at Badger Meter

In related news, CEO Kenneth Bockhorst bought 2,200 shares of the stock in a transaction dated Tuesday, April 21st. The shares were purchased at an average price of $117.53 per share, with a total value of $258,566.00. Following the completion of the acquisition, the chief executive officer owned 51,676 shares of the company’s stock, valued at $6,073,480.28. This represents a 4.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Wrocklage bought 1,000 shares of the stock in a transaction dated Thursday, April 23rd. The stock was bought at an average cost of $122.35 per share, for a total transaction of $122,350.00. Following the acquisition, the executive vice president directly owned 23,321 shares of the company’s stock, valued at approximately $2,853,324.35. This represents a 4.48% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 6,628 shares of company stock valued at $777,128. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Badger Meter

Several hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its holdings in shares of Badger Meter by 78.6% in the first quarter. Pacer Advisors Inc. now owns 945 shares of the scientific and technical instruments company’s stock worth $144,000 after buying an additional 416 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of Badger Meter by 315.2% in the first quarter. Segall Bryant & Hamill LLC now owns 86,478 shares of the scientific and technical instruments company’s stock worth $13,175,000 after buying an additional 65,650 shares in the last quarter. BankChampaign National Association purchased a new position in shares of Badger Meter in the first quarter worth $167,000. Bank of America Corp DE lifted its holdings in shares of Badger Meter by 133.5% in the first quarter. Bank of America Corp DE now owns 292,852 shares of the scientific and technical instruments company’s stock worth $44,616,000 after buying an additional 167,444 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in shares of Badger Meter by 897.8% in the first quarter. Edgestream Partners L.P. now owns 23,010 shares of the scientific and technical instruments company’s stock worth $3,506,000 after buying an additional 20,704 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

About Badger Meter

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.