Badger Meter (NYSE:BMI) Hits New 52-Week High at $187.41

Shares of Badger Meter, Inc. (NYSE:BMI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $187.41 and last traded at $186.34, with a volume of 18565 shares traded. The stock had previously closed at $186.40.

Analysts Set New Price Targets

BMI has been the subject of a number of analyst reports. StockNews.com upgraded Badger Meter from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Maxim Group lifted their price target on shares of Badger Meter from $190.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Northcoast Research raised shares of Badger Meter from a “sell” rating to a “neutral” rating in a research note on Thursday, April 18th. Stifel Nicolaus boosted their price target on shares of Badger Meter from $147.00 to $175.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Robert W. Baird upped their price objective on shares of Badger Meter from $151.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $162.50.

Badger Meter Trading Down 0.6 %

The business has a 50-day moving average of $159.25 and a 200 day moving average of $151.50. The firm has a market capitalization of $5.45 billion, a P/E ratio of 53.12, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.82 by $0.17. The business had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $182.25 million. Badger Meter had a net margin of 13.81% and a return on equity of 20.26%. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. As a group, research analysts forecast that Badger Meter, Inc. will post 3.89 EPS for the current year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, February 22nd. Badger Meter’s dividend payout ratio (DPR) is 31.12%.

Insider Activity

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

Institutional Trading of Badger Meter

A number of large investors have recently made changes to their positions in the company. CWM LLC boosted its stake in Badger Meter by 33.3% in the 3rd quarter. CWM LLC now owns 532 shares of the scientific and technical instruments company’s stock worth $77,000 after buying an additional 133 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Badger Meter by 2.1% in the 3rd quarter. DAVENPORT & Co LLC now owns 6,277 shares of the scientific and technical instruments company’s stock worth $903,000 after acquiring an additional 128 shares in the last quarter. Boston Trust Walden Corp increased its holdings in shares of Badger Meter by 6.4% during the 3rd quarter. Boston Trust Walden Corp now owns 249,150 shares of the scientific and technical instruments company’s stock valued at $35,845,000 after acquiring an additional 14,984 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Badger Meter by 18.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,765 shares of the scientific and technical instruments company’s stock worth $2,987,000 after purchasing an additional 3,215 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of Badger Meter during the 3rd quarter worth approximately $35,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Company Profile

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.