Analysts Set Badger Meter, Inc. (BMI) Target Price at $50.83

Shares of Badger Meter, Inc. (NYSE:BMI) have been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $50.83.

A number of brokerages have recently weighed in on BMI. Maxim Group began coverage on Badger Meter in a research report on Monday, November 5th. They set a “buy” rating and a $65.00 price target on the stock. Stifel Nicolaus increased their price target on Badger Meter from $49.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, October 8th. Zacks Investment Research upgraded Badger Meter from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, October 9th. Finally, Berenberg Bank began coverage on Badger Meter in a research report on Wednesday, October 3rd. They set a “sell” rating and a $43.00 price target on the stock.

In related news, Chairman Richard A. Meeusen sold 22,430 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $50.01, for a total value of $1,121,724.30. Following the sale, the chairman now directly owns 83,562 shares in the company, valued at approximately $4,178,935.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard E. Johnson sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $50.43, for a total value of $958,170.00. Following the completion of the sale, the vice president now owns 56,982 shares in the company, valued at $2,873,602.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,430 shares of company stock worth $2,408,814. 2.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Badger Meter by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,105,545 shares of the scientific and technical instruments company’s stock valued at $164,438,000 after acquiring an additional 76,731 shares during the period. Morgan Stanley increased its position in Badger Meter by 5.0% in the 3rd quarter. Morgan Stanley now owns 79,474 shares of the scientific and technical instruments company’s stock valued at $4,208,000 after acquiring an additional 3,816 shares during the period. Legal & General Group Plc increased its position in Badger Meter by 7.5% in the 3rd quarter. Legal & General Group Plc now owns 68,462 shares of the scientific and technical instruments company’s stock valued at $3,629,000 after acquiring an additional 4,756 shares during the period. Teachers Advisors LLC increased its position in Badger Meter by 2.0% in the 3rd quarter. Teachers Advisors LLC now owns 74,716 shares of the scientific and technical instruments company’s stock valued at $3,956,000 after acquiring an additional 1,478 shares during the period. Finally, MetLife Investment Advisors LLC increased its position in Badger Meter by 35.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 18,537 shares of the scientific and technical instruments company’s stock valued at $982,000 after acquiring an additional 4,897 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Shares of Badger Meter stock opened at $52.79 on Friday. The company has a market cap of $1.52 billion, a PE ratio of 44.36, a P/E/G ratio of 3.85 and a beta of 0.70. Badger Meter has a twelve month low of $41.00 and a twelve month high of $56.40.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Wednesday, October 17th. The scientific and technical instruments company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $110.60 million for the quarter, compared to analysts’ expectations of $109.67 million. Badger Meter had a return on equity of 14.21% and a net margin of 5.58%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. Research analysts predict that Badger Meter will post 1.5 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, November 29th. Badger Meter’s dividend payout ratio is currently 50.42%.

Badger Meter Company Profile

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

See Also: Depreciation

Analyst Recommendations for Badger Meter (NYSE:BMI)

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