Stifel Nicolaus Increases Badger Meter (NYSE:BMI) Price Target to $203.00

Badger Meter (NYSE:BMI) had its price objective boosted by Stifel Nicolaus from $189.00 to $203.00 in a research note released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the scientific and technical instruments company’s stock.

Other equities research analysts have also issued reports about the stock. Argus lifted their price target on shares of Badger Meter from $204.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird increased their price target on Badger Meter from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $203.00.

Badger Meter Price Performance

NYSE BMI opened at $219.57 on Wednesday. The business has a fifty day moving average price of $208.97 and a two-hundred day moving average price of $194.39. The stock has a market capitalization of $6.45 billion, a PE ratio of 63.28, a PEG ratio of 3.07 and a beta of 0.77. Badger Meter has a fifty-two week low of $134.06 and a fifty-two week high of $230.76.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Friday, July 19th. The scientific and technical instruments company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.09. Badger Meter had a return on equity of 21.42% and a net margin of 14.44%. The business had revenue of $216.70 million during the quarter, compared to the consensus estimate of $203.39 million. During the same period in the prior year, the company earned $0.76 EPS. Badger Meter’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, sell-side analysts expect that Badger Meter will post 4.1 earnings per share for the current year.

Badger Meter Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a $0.34 dividend. This is a boost from Badger Meter’s previous quarterly dividend of $0.27. This represents a $1.36 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Friday, August 23rd. Badger Meter’s dividend payout ratio is 39.19%.

Insider Activity

In related news, VP Kimberly K. Stoll sold 1,097 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $205.00, for a total value of $224,885.00. Following the sale, the vice president now owns 3,861 shares of the company’s stock, valued at $791,505. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Badger Meter

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. raised its holdings in Badger Meter by 2,633.3% during the 1st quarter. Bessemer Group Inc. now owns 492 shares of the scientific and technical instruments company’s stock worth $80,000 after purchasing an additional 474 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Badger Meter by 46.3% during the second quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock worth $93,000 after buying an additional 158 shares during the period. CWM LLC raised its stake in Badger Meter by 40.9% during the second quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 167 shares during the last quarter. Annex Advisory Services LLC acquired a new position in Badger Meter in the third quarter valued at $204,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in Badger Meter during the first quarter valued at $205,000. 89.01% of the stock is owned by institutional investors and hedge funds.

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.