Badger Meter, Inc. (BMI) Given New $65.00 Price Target at Sidoti
Badger Meter, Inc. (NYSE:BMI) had its price objective lifted by Sidoti from $55.00 to $65.00 in a research report report published on Thursday morning. The firm currently has a buy rating on the scientific and technical instruments company’s stock.
Other research analysts also recently issued research reports about the stock. Stifel Nicolaus began coverage on shares of Badger Meter in a research note on Monday, September 18th. They issued a hold rating and a $43.00 target price for the company. Zacks Investment Research downgraded shares of Badger Meter from a strong-buy rating to a hold rating in a research note on Wednesday, September 20th. Boenning Scattergood reissued a hold rating on shares of Badger Meter in a research note on Friday, July 21st. Finally, BidaskClub downgraded shares of Badger Meter from a buy rating to a hold rating in a research note on Tuesday, August 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $48.33.
Shares of Badger Meter (BMI) traded down 0.20% during midday trading on Thursday, hitting $50.15. 176,100 shares of the stock were exchanged. The firm has a 50-day moving average price of $46.43 and a 200 day moving average price of $41.47. Badger Meter has a 12-month low of $29.30 and a 12-month high of $50.90. The firm has a market cap of $1.46 billion, a PE ratio of 42.50 and a beta of 0.56.
Badger Meter (NYSE:BMI) last released its quarterly earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $104.17 million during the quarter, compared to the consensus estimate of $108.02 million. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. Analysts predict that Badger Meter will post $1.28 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.13 dividend. This is an increase from Badger Meter’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.04%. Badger Meter’s payout ratio is presently 44.44%.
In other Badger Meter news, Chairman Richard A. Meeusen sold 16,500 shares of Badger Meter stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $44.61, for a total value of $736,065.00. Following the completion of the sale, the chairman now owns 164,620 shares in the company, valued at approximately $7,343,698.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew J. Policano sold 8,850 shares of Badger Meter stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $45.67, for a total value of $404,179.50. Following the completion of the sale, the director now owns 32,561 shares of the company’s stock, valued at approximately $1,487,060.87. The disclosure for this sale can be found here. Insiders sold a total of 63,340 shares of company stock valued at $2,859,651 in the last three months. 4.50% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BMI. Great West Life Assurance Co. Can grew its holdings in Badger Meter by 6.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 39,846 shares of the scientific and technical instruments company’s stock valued at $1,463,000 after buying an additional 2,436 shares during the period. Bank of New York Mellon Corp grew its holdings in Badger Meter by 13.8% in the 1st quarter. Bank of New York Mellon Corp now owns 600,691 shares of the scientific and technical instruments company’s stock valued at $22,075,000 after buying an additional 72,916 shares during the period. Comerica Bank grew its holdings in Badger Meter by 4.0% in the 1st quarter. Comerica Bank now owns 32,318 shares of the scientific and technical instruments company’s stock valued at $1,314,000 after buying an additional 1,239 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Badger Meter by 13.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 523,197 shares of the scientific and technical instruments company’s stock valued at $19,227,000 after buying an additional 61,675 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in Badger Meter in the 1st quarter valued at about $1,126,000. Institutional investors own 83.96% of the company’s stock.
About Badger Meter
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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