StockNews.com Lowers Badger Meter (NYSE:BMI) to Hold

StockNews.com cut shares of Badger Meter (NYSE:BMIGet Rating) from a buy rating to a hold rating in a report issued on Thursday morning.

BMI has been the topic of several other research reports. Maxim Group raised shares of Badger Meter from a hold rating to a buy rating and set a $125.00 price objective on the stock in a research note on Monday, January 31st. Zacks Investment Research downgraded shares of Badger Meter from a strong-buy rating to a hold rating and set a $108.00 price objective on the stock. in a report on Monday, April 4th.

Shares of NYSE BMI opened at $93.81 on Thursday. Badger Meter has a one year low of $85.55 and a one year high of $112.36. The business has a fifty day simple moving average of $98.79 and a 200 day simple moving average of $101.45. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 45.10 and a beta of 0.76.

Badger Meter (NYSE:BMIGet Rating) last posted its quarterly earnings data on Friday, January 28th. The scientific and technical instruments company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.15. The firm had revenue of $135.80 million during the quarter, compared to analysts’ expectations of $127.83 million. Badger Meter had a net margin of 12.05% and a return on equity of 15.75%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. On average, equities analysts anticipate that Badger Meter will post 2.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 11th. Stockholders of record on Friday, February 25th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.85%. Badger Meter’s payout ratio is presently 38.46%.

Several institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Badger Meter during the fourth quarter worth about $25,543,000. BlackRock Inc. boosted its holdings in Badger Meter by 2.7% in the fourth quarter. BlackRock Inc. now owns 4,963,228 shares of the scientific and technical instruments company’s stock valued at $528,881,000 after acquiring an additional 129,849 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Badger Meter by 28.6% in the third quarter. Bank of New York Mellon Corp now owns 500,495 shares of the scientific and technical instruments company’s stock valued at $50,620,000 after acquiring an additional 111,450 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Badger Meter in the fourth quarter valued at approximately $9,324,000. Finally, Impax Asset Management Group plc boosted its holdings in Badger Meter by 6.4% in the third quarter. Impax Asset Management Group plc now owns 1,200,745 shares of the scientific and technical instruments company’s stock valued at $120,849,000 after acquiring an additional 72,606 shares during the last quarter. 85.04% of the stock is owned by institutional investors.

About Badger Meter (Get Rating)

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.

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