Badger Meter (NYSE:BMI) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Badger Meter (NYSE:BMI) from a neutral rating to an outperform rating in a report issued on Monday morning, Marketbeat Ratings reports. They currently have $173.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $165.00.

A number of other brokerages have also recently weighed in on BMI. Royal Bank Of Canada reissued an “outperform” rating and set a $191.00 price objective (down from $229.00) on shares of Badger Meter in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $167.00 target price on shares of Badger Meter in a report on Thursday, January 29th. Zacks Research downgraded Badger Meter from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Stifel Nicolaus set a $166.00 price objective on Badger Meter and gave the company a “buy” rating in a research report on Thursday, January 29th. Finally, Argus lowered Badger Meter from a “buy” rating to a “hold” rating in a research note on Monday, February 2nd. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $182.88.

Badger Meter Trading Up 1.3%

Shares of NYSE BMI opened at $154.37 on Monday. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 2.45 and a beta of 0.90. Badger Meter has a 52 week low of $139.14 and a 52 week high of $256.08. The company’s 50-day moving average price is $152.93 and its 200 day moving average price is $169.47.

Badger Meter (NYSE:BMI) last posted its earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share 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 business had revenue of $220.71 million for the quarter, compared to analysts’ expectations of $232.30 million. During the same quarter last year, the business posted $1.04 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Badger Meter will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 27th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. Badger Meter’s dividend payout ratio (DPR) is 33.33%.

Insider Activity

In other Badger Meter news, EVP Robert Wrocklage purchased 1,650 shares of the business’s stock in a transaction on Monday, February 9th. The stock was bought at an average cost of $152.35 per share, for a total transaction of $251,377.50. Following the acquisition, the executive vice president owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. The trade was a 9.22% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kimberly K. Stoll sold 1,634 shares of the stock in a transaction 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 transaction, 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,989 shares of company stock valued at $596,002 over the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Trading of Badger Meter

Hedge funds have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC acquired a new position in shares of Badger Meter during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd raised its stake in Badger Meter by 76.5% during 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 purchasing an additional 65 shares during the period. Godfrey Financial Associates Inc. acquired a new position in shares of Badger Meter in the 4th quarter valued at $27,000. Caitlin John LLC purchased a new stake in shares of Badger Meter during the 3rd quarter valued at $31,000. Finally, Brown Brothers Harriman & Co. grew 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 valued at $33,000 after buying an additional 71 shares during the period. 89.01% of the stock is owned by institutional investors and hedge funds.

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.