Badger Meter, Inc. (NYSE:BMI)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $62.51 and last traded at $62.51, with a volume of 5697 shares. The stock had previously closed at $61.73.
Several research analysts have recently issued reports on BMI shares. ValuEngine cut Badger Meter from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised Badger Meter from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Monday, October 21st. Maxim Group reaffirmed a “buy” rating and set a $64.00 price objective on shares of Badger Meter in a research report on Wednesday, October 16th. Finally, Robert W. Baird upped their price objective on Badger Meter from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Badger Meter currently has a consensus rating of “Hold” and a consensus price target of $57.00.
The company has a 50-day moving average price of $59.88 and a 200-day moving average price of $55.86. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 41.16 and a beta of 0.81.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, November 27th. Badger Meter’s payout ratio is currently 44.16%.
Several institutional investors have recently bought and sold shares of BMI. Invesco Ltd. lifted its holdings in shares of Badger Meter by 84.2% in the 2nd quarter. Invesco Ltd. now owns 754,169 shares of the scientific and technical instruments company’s stock valued at $45,016,000 after purchasing an additional 344,641 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Badger Meter by 283.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 347,920 shares of the scientific and technical instruments company’s stock valued at $20,767,000 after purchasing an additional 257,073 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Badger Meter by 645.1% in the 2nd quarter. Royal Bank of Canada now owns 275,963 shares of the scientific and technical instruments company’s stock valued at $16,474,000 after purchasing an additional 238,928 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Badger Meter by 5,095.7% in the 3rd quarter. Millennium Management LLC now owns 219,828 shares of the scientific and technical instruments company’s stock valued at $11,804,000 after purchasing an additional 215,597 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Badger Meter in the 2nd quarter valued at about $12,456,000. 88.15% of the stock is owned by institutional investors and hedge funds.
About Badger Meter (NYSE:BMI)
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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