Robert W. Baird Upgrades Badger Meter (NYSE:BMI) to Outperform

Badger Meter (NYSE:BMI) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat.com reports. The firm currently has a $173.00 target price on the scientific and technical instruments company’s stock. Robert W. Baird’s target price would indicate a potential upside of 18.19% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, January 29th. Argus lowered Badger Meter from a “buy” rating to a “hold” rating in a research report on Monday, February 2nd. Jefferies Financial Group lowered their target price on Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Barclays set a $136.00 price target on Badger Meter and gave the company an “underweight” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Badger Meter presently has a consensus rating of “Hold” and an average price target of $182.88.

Badger Meter Trading Up 0.4%

NYSE:BMI opened at $146.38 on Monday. The company has a 50-day moving average price of $153.99 and a 200-day moving average price of $169.99. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 2.34 and a beta of 0.87. Badger Meter has a 12 month low of $139.14 and a 12 month high of $256.08.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.01). Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The company had revenue of $220.71 million for the quarter, compared to analysts’ expectations of $232.30 million. During the same quarter in the prior year, the firm earned $1.04 EPS. Badger Meter’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast that Badger Meter will post 4.65 EPS for the current fiscal year.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, EVP Robert Wrocklage bought 1,650 shares of the stock in a transaction dated Monday, February 9th. The stock was purchased at an average cost of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the acquisition, the executive vice president owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This trade represents a 9.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kimberly K. Stoll sold 1,634 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total value of $243,482.34. Following the completion of the sale, the vice president directly owned 3,256 shares in the company, valued at approximately $485,176.56. This represents a 33.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,989 shares of company stock valued at $596,002 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Badger Meter

Several hedge funds have recently added to or reduced their stakes in BMI. Commonwealth Equity Services LLC raised its stake in Badger Meter by 13.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 70,488 shares of the scientific and technical instruments company’s stock valued at $12,588,000 after buying an additional 8,387 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Badger Meter by 43.7% during the 3rd quarter. Boston Trust Walden Corp now owns 330,039 shares of the scientific and technical instruments company’s stock valued at $58,938,000 after buying an additional 100,298 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Badger Meter by 154.7% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,922 shares of the scientific and technical instruments company’s stock worth $3,022,000 after buying an additional 10,277 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Badger Meter by 85.9% in the 3rd quarter. Alps Advisors Inc. now owns 82,568 shares of the scientific and technical instruments company’s stock worth $14,745,000 after buying an additional 38,160 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings in shares of Badger Meter by 67.0% in the third quarter. Tudor Investment Corp ET AL now owns 106,927 shares of the scientific and technical instruments company’s stock worth $19,095,000 after acquiring an additional 42,891 shares during the period. 89.01% of the stock is owned by institutional investors.

Badger Meter Company Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.