Badger Meter (NYSE:BMI) Cut to Hold at Maxim Group

Maxim Group lowered shares of Badger Meter (NYSE:BMI) from a buy rating to a hold rating in a research report released on Thursday morning, MarketBeat.com reports.

A number of other research analysts have also weighed in on the company. Barclays set a $110.00 price objective on Badger Meter and gave the company an “underweight” rating in a research report on Monday, April 20th. Royal Bank Of Canada decreased their target price on Badger Meter from $197.00 to $169.00 and set an “outperform” rating on the stock in a research report on Monday, April 20th. Jefferies Financial Group dropped their price target on Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Stifel Nicolaus cut their price target on Badger Meter from $174.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, Argus downgraded Badger Meter from a “buy” rating to a “hold” rating in a research note on Monday, February 2nd. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $155.86.

Badger Meter Stock Performance

BMI stock opened at $121.52 on Thursday. The company’s fifty day moving average price is $148.94 and its 200-day moving average price is $165.42. Badger Meter has a one year low of $112.09 and a one year high of $256.08. The company has a market capitalization of $3.55 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90.

Badger Meter (NYSE:BMI) last posted its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter. The company had revenue of $220.71 million during the quarter. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. On average, research analysts predict that Badger Meter will post 4.5 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a $0.40 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. Badger Meter’s payout ratio is 36.12%.

Insider Activity

In other Badger Meter news, CEO Kenneth Bockhorst purchased 2,200 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was purchased at an average price of $117.53 per share, with a total value of $258,566.00. Following the acquisition, the chief executive officer owned 51,676 shares in the company, valued at approximately $6,073,480.28. The trade was a 4.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Edward F. Callahan purchased 858 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was bought at an average price of $116.30 per share, with a total value of $99,785.40. Following the transaction, the vice president owned 1,186 shares of the company’s stock, valued at $137,931.80. This represents a 261.59% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 11,578 shares of company stock worth $1,531,492 and sold 3,989 shares worth $596,002. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Badger Meter

A number of institutional investors and hedge funds have recently modified their holdings of BMI. Brighton Jones LLC purchased a new stake in Badger Meter during the 4th quarter valued at $227,000. NewEdge Advisors LLC boosted its stake in Badger Meter by 328.0% during the first quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock worth $717,000 after buying an additional 2,886 shares during the period. Cetera Investment Advisers increased its position in Badger Meter by 10.6% during the second quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company’s stock valued at $572,000 after acquiring an additional 223 shares during the last quarter. M&T Bank Corp bought a new position in Badger Meter during the second quarter valued at $200,000. Finally, California Public Employees Retirement System raised its stake in shares of Badger Meter by 11.2% in the second quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company’s stock valued at $12,303,000 after acquiring an additional 5,041 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.

About Badger Meter

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.