Badger Meter (NYSE:BMI) Sets New 12-Month High at $62.51

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.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Thursday, October 17th. The scientific and technical instruments company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Badger Meter had a return on equity of 14.85% and a net margin of 10.95%. The business had revenue of $108.60 million during the quarter, compared to analysts’ expectations of $110.39 million. During the same period in the prior year, the firm posted $0.46 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts forecast that Badger Meter, Inc. will post 1.62 earnings per share for the current year.

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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