Badger Meter (NYSE:BMI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Badger Meter (NYSE:BMI) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research analysts have also issued reports on BMI. Barclays restated an “underweight” rating and issued a $112.00 price target (up from $109.00) on shares of Badger Meter in a research report on Tuesday, July 28th. Weiss Ratings upgraded Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Royal Bank Of Canada decreased their target price on Badger Meter from $169.00 to $162.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Finally, Seaport Research Partners set a $160.00 target price on Badger Meter in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $164.00.

Badger Meter Trading Up 2.8%

Shares of Badger Meter stock opened at $135.44 on Friday. Badger Meter has a 52 week low of $112.09 and a 52 week high of $204.00. The stock has a market cap of $3.93 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.41 and a beta of 0.65. The company’s 50-day moving average price is $137.51 and its two-hundred day moving average price is $138.98.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The company had revenue of $220.30 million during the quarter, compared to analyst estimates of $220.59 million. During the same quarter last year, the firm posted $1.17 EPS. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities analysts predict that Badger Meter will post 4.43 EPS for the current fiscal year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.3%. This is an increase from Badger Meter’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, August 28th. Badger Meter’s dividend payout ratio is presently 37.38%.

Insiders Place Their Bets

In other news, VP Edward F. Callahan purchased 751 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was bought at an average cost of $135.25 per share, with a total value of $101,572.75. Following the purchase, the vice president directly owned 1,937 shares of the company’s stock, valued at approximately $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Badger Meter

A number of institutional investors have recently added to or reduced their stakes in BMI. N.E.W. Advisory Services LLC bought a new stake in Badger Meter in the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Badger Meter by 76.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock worth $26,000 after buying an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new stake in shares of Badger Meter in the fourth quarter worth about $27,000. Public Employees Retirement System of Ohio bought a new stake in shares of Badger Meter during the 2nd quarter worth about $27,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Badger Meter by 62.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors and hedge funds.

About Badger Meter

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.