Badger Meter, Inc. (BMI) Receives Average Recommendation of “Hold” from Brokerages

Badger Meter, Inc. (NYSE:BMI) has been given a consensus rating of “Hold” by the eight brokerages that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $51.80.

Several research analysts recently issued reports on BMI shares. Berenberg Bank started coverage on Badger Meter in a research note on Wednesday, October 3rd. They issued a “sell” rating and a $43.00 price objective on the stock. Zacks Investment Research raised Badger Meter from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Tuesday, October 9th. Stifel Nicolaus increased their target price on Badger Meter from $49.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, October 8th. Finally, Maxim Group initiated coverage on Badger Meter in a research report on Monday, November 5th. They set a “buy” rating and a $65.00 target price on the stock.

In other news, VP Richard E. Johnson sold 19,000 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was 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 of the company’s stock, valued at approximately $2,873,602.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Meeusen sold 22,430 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now directly owns 83,562 shares of the company’s stock, valued at approximately $4,178,935.62. The disclosure for this sale can be found here. Insiders have sold a total of 50,982 shares of company stock worth $2,594,863 in the last ninety days. Insiders own 2.80% of the company’s stock.



Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Badger Meter by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 577,317 shares of the scientific and technical instruments company’s stock valued at $25,807,000 after buying an additional 10,630 shares during the period. SG Americas Securities LLC increased its stake in shares of Badger Meter by 84.6% during the second quarter. SG Americas Securities LLC now owns 6,388 shares of the scientific and technical instruments company’s stock valued at $286,000 after buying an additional 2,928 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Badger Meter by 37.0% during the second quarter. Russell Investments Group Ltd. now owns 189,624 shares of the scientific and technical instruments company’s stock valued at $8,474,000 after buying an additional 51,212 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Badger Meter by 5.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 149,613 shares of the scientific and technical instruments company’s stock valued at $6,688,000 after buying an additional 7,822 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Badger Meter by 7.4% during the second quarter. BlackRock Inc. now owns 4,028,491 shares of the scientific and technical instruments company’s stock valued at $180,074,000 after buying an additional 277,731 shares during the period. 84.64% of the stock is owned by hedge funds and other institutional investors.

NYSE:BMI traded down $0.05 during midday trading on Friday, hitting $51.40. The stock had a trading volume of 2,435 shares, compared to its average volume of 146,931. Badger Meter has a one year low of $41.00 and a one year high of $57.12. The stock has a market cap of $1.47 billion, a P/E ratio of 43.15, a price-to-earnings-growth ratio of 3.22 and a beta of 0.82.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Wednesday, October 17th. The scientific and technical instruments company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Badger Meter had a return on equity of 14.21% and a net margin of 5.58%. The company had revenue of $110.60 million for the quarter, compared to analysts’ expectations of $109.67 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Badger Meter’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Badger Meter will post 1.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 30th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, November 29th. This represents a $0.60 annualized dividend and a yield of 1.17%. Badger Meter’s dividend payout ratio (DPR) is presently 50.42%.

About Badger Meter

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.

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Analyst Recommendations for Badger Meter (NYSE:BMI)

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