Edward Callahan Acquires 751 Shares of Badger Meter (NYSE:BMI) Stock

Badger Meter, Inc. (NYSE:BMIGet Free Report) VP Edward Callahan purchased 751 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the purchase, the vice president owned 1,937 shares of the company’s stock, valued at approximately $261,979.25. This represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Badger Meter Price Performance

Shares of BMI stock opened at $134.12 on Friday. The business’s fifty day moving average price is $135.59 and its 200 day moving average price is $142.48. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $204.00. The firm has a market capitalization of $3.89 billion, a PE ratio of 31.34, a P/E/G ratio of 2.45 and a beta of 0.64.

Badger Meter (NYSE:BMIGet Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The firm had revenue of $220.30 million during the quarter, compared to analysts’ expectations of $220.59 million. During the same quarter in the prior year, the business posted $1.17 earnings per share. Badger Meter’s revenue was down 6.6% compared to the same quarter last year. Equities research analysts expect that Badger Meter, Inc. will post 4.43 earnings per share for the current fiscal year.

Key Headlines Impacting Badger Meter

Here are the key news stories impacting Badger Meter this week:

Hedge Funds Weigh In On Badger Meter

A number of large investors have recently bought and sold shares of BMI. Kornitzer Capital Management Inc. KS purchased a new position in shares of Badger Meter in the 1st quarter worth $1,447,000. Capital Innovations LLC acquired a new stake in Badger Meter during the fourth quarter worth about $6,867,000. Bessemer Group Inc. raised its holdings in shares of Badger Meter by 14.1% in the 4th quarter. Bessemer Group Inc. now owns 166,407 shares of the scientific and technical instruments company’s stock worth $29,023,000 after purchasing an additional 20,624 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Badger Meter in the 4th quarter valued at about $2,126,000. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Badger Meter by 70.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 28,818 shares of the scientific and technical instruments company’s stock worth $5,026,000 after purchasing an additional 11,896 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on BMI. Barclays reiterated an “underweight” rating and issued a $112.00 price objective (up from $109.00) on shares of Badger Meter in a research note on Tuesday. Weiss Ratings raised shares of Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Wall Street Zen lowered Badger Meter from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Seaport Research Partners set a $160.00 price target on Badger Meter in a report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Badger Meter presently has an average rating of “Hold” and a consensus target price of $164.00.

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About Badger Meter

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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.

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