Robert W. Baird Boosts Badger Meter (NYSE:BMI) Price Target to $180.00

Badger Meter (NYSE:BMI) had its price objective increased by Robert W. Baird from $151.00 to $180.00 in a research report sent to investors on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other research firms have also issued reports on BMI. StockNews.com lowered Badger Meter from a buy rating to a hold rating in a research note on Saturday, February 3rd. Stifel Nicolaus lifted their price target on Badger Meter from $142.00 to $147.00 and gave the company a hold rating in a research report on Monday, January 29th. Finally, Northcoast Research upgraded shares of Badger Meter from a sell rating to a neutral rating in a research report on Thursday, April 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $162.50.

Badger Meter Stock Up 2.5 %

Shares of BMI opened at $181.14 on Friday. The business’s 50-day moving average price is $158.52 and its 200-day moving average price is $151.19. Badger Meter has a twelve month low of $128.93 and a twelve month high of $182.80. The stock has a market cap of $5.32 billion, a PE ratio of 52.20, a P/E/G ratio of 3.70 and a beta of 0.86.

Badger Meter (NYSE:BMI) last posted its earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.17. Badger Meter had a net margin of 13.81% and a return on equity of 20.26%. The business had revenue of $196.80 million for the quarter, compared to analyst estimates of $182.25 million. During the same quarter in the prior year, the firm posted $0.66 EPS. Badger Meter’s revenue was up 23.7% on a year-over-year basis. Analysts expect that Badger Meter will post 3.89 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, February 22nd. Badger Meter’s payout ratio is currently 31.12%.

Insider Activity at Badger Meter

In other Badger Meter news, VP William R. A. Bergum sold 194 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $159.55, for a total transaction of $30,952.70. Following the transaction, the vice president now directly owns 13,672 shares in the company, valued at $2,181,367.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP William R. A. Bergum sold 1,416 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $156.23, for a total transaction of $221,221.68. Following the completion of the sale, the vice president now directly owns 13,422 shares in the company, valued at approximately $2,096,919.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William R. A. Bergum sold 194 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $159.55, for a total transaction of $30,952.70. Following the completion of the transaction, the vice president now owns 13,672 shares in the company, valued at approximately $2,181,367.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,813 shares of company stock valued at $448,167. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Badger Meter

Several hedge funds have recently made changes to their positions in BMI. PFG Investments LLC lifted its position in shares of Badger Meter by 8.1% in the 1st quarter. PFG Investments LLC now owns 2,237 shares of the scientific and technical instruments company’s stock worth $362,000 after purchasing an additional 168 shares during the period. Norden Group LLC bought a new stake in Badger Meter during the 1st quarter valued at approximately $484,000. River Street Advisors LLC raised its position in shares of Badger Meter by 4.9% in the 1st quarter. River Street Advisors LLC now owns 3,528 shares of the scientific and technical instruments company’s stock worth $571,000 after acquiring an additional 165 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Badger Meter by 29.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 19,672 shares of the scientific and technical instruments company’s stock valued at $3,183,000 after purchasing an additional 4,426 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Badger Meter by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,179 shares of the scientific and technical instruments company’s stock valued at $514,000 after purchasing an additional 213 shares in the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.