Badger Meter (NYSE:BMI) Given New $230.00 Price Target at Stifel Nicolaus

Badger Meter (NYSE:BMI) had its price target increased by Stifel Nicolaus from $200.00 to $230.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a hold rating on the scientific and technical instruments company’s stock.

A number of other research analysts also recently commented on the stock. Argus set a $240.00 price target on shares of Badger Meter in a report on Thursday, April 24th. Royal Bank of Canada raised their price objective on Badger Meter from $238.00 to $252.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Raymond James assumed coverage on Badger Meter in a report on Tuesday, June 3rd. They issued a “market perform” rating for the company. Finally, Robert W. Baird cut their target price on Badger Meter from $218.00 to $216.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Badger Meter has an average rating of “Hold” and a consensus price target of $236.60.

Badger Meter Price Performance

NYSE:BMI opened at $243.12 on Monday. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 57.47, a PEG ratio of 3.89 and a beta of 0.85. Badger Meter has a 1 year low of $162.17 and a 1 year high of $256.08. The stock’s 50 day simple moving average is $227.74 and its two-hundred day simple moving average is $216.22.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.22. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. The company had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $220.39 million. During the same quarter in the previous year, the business posted $0.99 earnings per share. As a group, analysts anticipate that Badger Meter will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 0.56%. Badger Meter’s dividend payout ratio (DPR) is presently 29.96%.

Institutional Investors Weigh In On Badger Meter

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Badger Meter during the fourth quarter worth $94,547,000. Westfield Capital Management Co. LP purchased a new position in Badger Meter in the 1st quarter worth about $65,448,000. Nuveen LLC bought a new stake in Badger Meter during the 1st quarter valued at about $44,715,000. Pictet Asset Management Holding SA boosted its position in Badger Meter by 5,897.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 235,322 shares of the scientific and technical instruments company’s stock valued at $49,917,000 after buying an additional 231,398 shares during the period. Finally, GAMMA Investing LLC grew its stake in Badger Meter by 21,179.0% in the 1st quarter. GAMMA Investing LLC now owns 167,040 shares of the scientific and technical instruments company’s stock worth $31,779,000 after acquiring an additional 166,255 shares in the last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Company Profile

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.