Badger Meter, Inc. (NYSE:BMI) Given Consensus Rating of “Hold” by Brokerages

Badger Meter, Inc. (NYSE:BMI) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $181.8750.

Several research firms have weighed in on BMI. Barclays set a $136.00 price target on Badger Meter and gave the company an “underweight” rating in a report on Thursday, January 29th. Argus lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. reduced 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. Royal Bank Of Canada restated an “outperform” rating and set a $191.00 target price (down from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. Finally, Jefferies Financial Group reduced their price objective on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th.

Insider Activity

In other news, EVP Robert Wrocklage bought 1,650 shares of the stock in a transaction on Monday, February 9th. The stock was acquired 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 $2,977,071.35. This represents a 9.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth Bockhorst acquired 3,300 shares of Badger Meter stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average cost of $152.42 per share, with a total value of $502,986.00. Following the purchase, the chief executive officer directly owned 40,013 shares of the company’s stock, valued at $6,098,781.46. This represents a 8.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Badger Meter

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMI. Norges Bank acquired a new stake in shares of Badger Meter in the fourth quarter valued at about $83,819,000. UBS Group AG grew its stake in Badger Meter by 89.2% during the 4th 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 raised its holdings in Badger Meter by 78.1% in 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 acquiring an additional 268,799 shares during the last quarter. Bamco Inc. NY purchased a new position in Badger Meter in the 3rd quarter worth approximately $45,435,000. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Badger Meter by 39.2% during 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 during the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Price Performance

Shares of Badger Meter stock opened at $159.28 on Wednesday. Badger Meter has a 1-year low of $139.14 and a 1-year high of $256.08. The company’s fifty day simple moving average is $168.77 and its 200-day simple moving average is $176.73. The stock has a market capitalization of $4.69 billion, a PE ratio of 33.18, a P/E/G ratio of 2.49 and a beta of 0.90.

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 (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.01). Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The firm had revenue of $220.71 million during the quarter, compared to analysts’ expectations of $232.30 million. During the same period in the prior year, the company posted $1.04 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that Badger Meter will post 4.65 EPS for the current year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.40 dividend. The ex-dividend date is 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 presently 33.33%.

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.