Analysts Set Badger Meter, Inc. (BMI) PT at $50.75

Badger Meter, Inc. (NYSE:BMI) has received a consensus recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $50.75.

Several research analysts recently weighed in on BMI shares. Zacks Investment Research raised Badger Meter from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Stifel Nicolaus increased their target price on Badger Meter from $41.00 to $49.00 and gave the stock a “hold” rating in a research report on Friday, July 20th. Canaccord Genuity upgraded Badger Meter from a “sell” rating to a “hold” rating and increased their price target for the company from $40.00 to $44.00 in a report on Friday, June 15th. ValuEngine downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $45.00 price target on shares of Badger Meter in a report on Friday, July 20th.

Shares of Badger Meter opened at $52.25 on Thursday, according to MarketBeat Ratings. The firm has a market capitalization of $1.52 billion, a P/E ratio of 43.38, a PEG ratio of 4.22 and a beta of 0.72. Badger Meter has a twelve month low of $41.00 and a twelve month high of $53.30.

Badger Meter (NYSE:BMI) last issued its earnings results on Wednesday, July 18th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $113.65 million for the quarter, compared to analyst estimates of $111.03 million. Badger Meter had a return on equity of 12.51% and a net margin of 6.96%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. analysts predict that Badger Meter will post 1.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.15 dividend. This is an increase from Badger Meter’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.15%. Badger Meter’s dividend payout ratio is currently 43.70%.

In related news, CFO Richard E. Johnson sold 10,000 shares of the stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $44.76, for a total value of $447,600.00. Following the completion of the sale, the chief financial officer now directly owns 95,982 shares in the company, valued at approximately $4,296,154.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Raymond G. Serdynski sold 6,000 shares of the stock in a transaction on Friday, July 27th. The shares were sold at an average price of $50.83, for a total value of $304,980.00. Following the completion of the sale, the vice president now owns 14,471 shares of the company’s stock, valued at $735,560.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,000 shares of company stock valued at $2,414,980. 2.80% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in BMI. SG Americas Securities LLC acquired a new stake in shares of Badger Meter during the first quarter valued at about $163,000. Amalgamated Bank acquired a new stake in shares of Badger Meter during the second quarter valued at about $209,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Badger Meter during the first quarter valued at about $224,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Badger Meter during the second quarter valued at about $275,000. Finally, Manchester Capital Management LLC grew its stake in shares of Badger Meter by 2,965.0% during the first quarter. Manchester Capital Management LLC now owns 6,130 shares of the scientific and technical instruments company’s stock valued at $289,000 after acquiring an additional 5,930 shares in the last quarter. Institutional investors own 82.85% of the company’s stock.

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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