Analysts Set Badger Meter, Inc. (NYSE:BMI) Price Target at $181.88

Shares of Badger Meter, Inc. (NYSE:BMI) have received an average recommendation of “Hold” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $181.8750.

BMI has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $191.00 price target (down from $229.00) on shares of Badger Meter in a research note on Thursday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Jefferies Financial Group decreased their target price on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $167.00 price target on shares of Badger Meter in a report on Thursday, January 29th. Finally, Robert W. Baird set a $165.00 price target on shares of Badger Meter in a report on Thursday, January 29th.

Insiders Place Their Bets

In related news, VP Kimberly K. Stoll sold 1,634 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total value of $243,482.34. Following the sale, the vice president directly owned 3,256 shares of the company’s stock, valued at $485,176.56. This trade represents a 33.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Fred J. Begale sold 2,064 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $150.00, for a total value of $309,600.00. Following the transaction, the vice president owned 3,040 shares in the company, valued at approximately $456,000. This represents a 40.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,989 shares of company stock valued at $596,002 over the last three months. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Badger Meter

Several hedge funds have recently made changes to their positions in BMI. Norges Bank purchased a new stake in Badger Meter in the fourth quarter worth $83,819,000. UBS Group AG boosted its holdings in Badger Meter by 89.2% in the fourth quarter. UBS Group AG now owns 712,650 shares of the scientific and technical instruments company’s stock valued at $124,293,000 after acquiring an additional 335,953 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Badger Meter by 78.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock valued at $150,108,000 after purchasing an additional 268,799 shares during the period. Bamco Inc. NY bought a new position in Badger Meter in the 3rd quarter worth $45,435,000. Finally, Pictet Asset Management Holding SA raised its holdings in Badger Meter by 39.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company’s stock worth $131,592,000 after purchasing an additional 212,448 shares in the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Trading Down 1.2%

Shares of NYSE:BMI opened at $149.97 on Friday. The stock has a market capitalization of $4.38 billion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 2.44 and a beta of 0.87. The stock’s 50-day moving average price is $157.41 and its 200-day moving average price is $171.74. Badger Meter has a 12-month low of $139.14 and a 12-month high of $256.08.

Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The company had revenue of $220.71 million during the quarter, compared to the consensus estimate of $232.30 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. As a group, research analysts predict that Badger Meter will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, February 27th. Badger Meter’s dividend payout ratio is currently 33.33%.

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.