Canaccord Genuity downgraded shares of Badger Meter (NYSE:BMI) from a hold rating to a sell rating in a research report released on Tuesday morning, Marketbeat.com reports. Canaccord Genuity currently has $42.00 price objective on the scientific and technical instruments company’s stock, down from their previous price objective of $48.00.

BMI has been the subject of a number of other research reports. Zacks Investment Research upgraded Badger Meter from a hold rating to a buy rating and set a $56.00 target price for the company in a research note on Thursday, January 18th. Stifel Nicolaus restated a hold rating and issued a $45.00 target price on shares of Badger Meter in a research note on Thursday, December 14th. Finally, Robert W. Baird raised their target price on Badger Meter from $45.00 to $48.00 and gave the company a neutral rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Badger Meter has an average rating of Hold and an average target price of $52.00.

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Shares of Badger Meter (NYSE BMI) opened at $48.20 on Tuesday. Badger Meter has a fifty-two week low of $34.40 and a fifty-two week high of $52.10. The firm has a market capitalization of $1,370.00, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 1.99 and a beta of 0.63.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Tuesday, February 6th. The scientific and technical instruments company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Badger Meter had a return on equity of 12.78% and a net margin of 8.59%. The business had revenue of $96.65 million during the quarter, compared to analysts’ expectations of $98.08 million. During the same quarter last year, the business posted $0.21 EPS. The business’s revenue was up 3.8% on a year-over-year basis. analysts expect that Badger Meter will post 1.6 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Tuesday, February 27th. Badger Meter’s payout ratio is presently 42.62%.

In other news, Director Gale E. Klappa sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $50.16, for a total value of $601,920.00. Following the completion of the transaction, the director now owns 27,723 shares in the company, valued at approximately $1,390,585.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard A. Meeusen sold 6,089 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $49.83, for a total value of $303,414.87. Following the completion of the transaction, the chief executive officer now owns 147,531 shares of the company’s stock, valued at approximately $7,351,469.73. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BMI. BlackRock Inc. increased its position in Badger Meter by 3.5% during the 4th quarter. BlackRock Inc. now owns 3,679,398 shares of the scientific and technical instruments company’s stock valued at $175,875,000 after buying an additional 124,253 shares in the last quarter. Impax Asset Management LTD increased its position in Badger Meter by 24.7% during the 4th quarter. Impax Asset Management LTD now owns 1,181,774 shares of the scientific and technical instruments company’s stock valued at $56,489,000 after buying an additional 234,026 shares in the last quarter. State Street Corp increased its position in Badger Meter by 4.7% during the 2nd quarter. State Street Corp now owns 715,440 shares of the scientific and technical instruments company’s stock valued at $28,513,000 after buying an additional 32,322 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Badger Meter by 16.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 666,590 shares of the scientific and technical instruments company’s stock valued at $31,863,000 after buying an additional 94,609 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in Badger Meter by 4.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 442,475 shares of the scientific and technical instruments company’s stock valued at $22,322,000 after buying an additional 19,709 shares in the last quarter. Institutional investors own 84.59% of the company’s stock.

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Badger Meter Company Profile

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.

Analyst Recommendations for Badger Meter (NYSE:BMI)

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