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

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Badger Meter, Inc. (NYSE:BMI) has been assigned an average rating of “Hold” from the eight research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $49.40.

A number of brokerages have issued reports on BMI. Stifel Nicolaus increased their price target on Badger Meter from $49.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, October 8th. Berenberg Bank assumed coverage on Badger Meter in a research note on Wednesday, October 3rd. They set a “sell” rating and a $43.00 price target for the company. Maxim Group assumed coverage on Badger Meter in a research note on Monday, November 5th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Zacks Investment Research lowered Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.

NYSE BMI traded up $0.49 on Wednesday, reaching $51.88. 2,744 shares of the stock traded hands, compared to its average volume of 117,981. The firm has a market cap of $1.50 billion, a P/E ratio of 43.60, a PEG ratio of 3.81 and a beta of 0.71. Badger Meter has a 12 month low of $41.00 and a 12 month high of $57.12.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, October 17th. The scientific and technical instruments company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $110.60 million during the quarter, compared to analyst estimates of $109.67 million. Badger Meter had a return on equity of 14.21% and a net margin of 5.58%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. On average, analysts predict that Badger Meter will post 1.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, November 29th. Badger Meter’s dividend payout ratio is presently 50.42%.

In other news, Chairman Richard A. Meeusen sold 22,430 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $50.01, for a total value of $1,121,724.30. Following the completion of the sale, the chairman now owns 83,562 shares in the company, valued at $4,178,935.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Horst Gras sold 2,250 shares of the stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $53.57, for a total value of $120,532.50. Following the completion of the sale, the vice president now owns 12,650 shares of the company’s stock, valued at approximately $677,660.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,982 shares of company stock valued at $2,594,863. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Badger Meter by 5.3% in the third quarter. BlackRock Inc. now owns 4,241,678 shares of the scientific and technical instruments company’s stock valued at $224,597,000 after purchasing an additional 213,187 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Badger Meter by 2.5% in the third quarter. Vanguard Group Inc. now owns 3,105,545 shares of the scientific and technical instruments company’s stock valued at $164,438,000 after purchasing an additional 76,731 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Badger Meter by 2.5% in the third quarter. Vanguard Group Inc now owns 3,105,545 shares of the scientific and technical instruments company’s stock valued at $164,438,000 after purchasing an additional 76,731 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Badger Meter by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,140,117 shares of the scientific and technical instruments company’s stock valued at $60,369,000 after purchasing an additional 3,011 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Badger Meter by 4.2% in the third quarter. Wells Fargo & Company MN now owns 715,791 shares of the scientific and technical instruments company’s stock valued at $37,901,000 after purchasing an additional 28,992 shares in the last quarter. Institutional investors own 84.64% of the company’s stock.

About Badger Meter

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

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Analyst Recommendations for Badger Meter (NYSE:BMI)

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