Badger Meter (NYSE:BMI) Hits New 52-Week High at $220.77

Shares of Badger Meter, Inc. (NYSE:BMI) reached a new 52-week high on Wednesday . The stock traded as high as $220.77 and last traded at $219.89, with a volume of 73489 shares. The stock had previously closed at $217.96.

Wall Street Analyst Weigh In

Several brokerages have commented on BMI. Robert W. Baird boosted their price target on shares of Badger Meter from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Stifel Nicolaus upped their target price on Badger Meter from $175.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, July 18th. StockNews.com downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Argus boosted their price target on Badger Meter from $204.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $200.25.

Badger Meter Price Performance

The business has a 50 day moving average of $203.41 and a 200 day moving average of $189.60. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 63.29, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Friday, July 19th. The scientific and technical instruments company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Badger Meter had a return on equity of 21.42% and a net margin of 14.44%. The firm had revenue of $216.70 million during the quarter, compared to analyst estimates of $203.39 million. During the same period in the prior year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, sell-side analysts forecast that Badger Meter, Inc. will post 4.09 EPS for the current fiscal year.

Badger Meter Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, August 23rd. This is a boost from Badger Meter’s previous quarterly dividend of $0.27. Badger Meter’s dividend payout ratio is presently 39.19%.

Insider Transactions at Badger Meter

In other news, VP Kimberly K. Stoll sold 1,097 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $205.00, for a total transaction of $224,885.00. Following the sale, the vice president now owns 3,861 shares in the company, valued at $791,505. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Badger Meter

Several hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in Badger Meter by 2,633.3% during the first quarter. Bessemer Group Inc. now owns 492 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 474 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Badger Meter by 46.3% during the second quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock worth $93,000 after buying an additional 158 shares during the last quarter. CWM LLC boosted its holdings in Badger Meter by 40.9% during the second quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 167 shares during the last quarter. SYSTM Wealth Solutions LLC raised its position in shares of Badger Meter by 9.8% during the first quarter. SYSTM Wealth Solutions LLC now owns 615 shares of the scientific and technical instruments company’s stock worth $100,000 after purchasing an additional 55 shares during the period. Finally, TFO Wealth Partners LLC raised its position in shares of Badger Meter by 91,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 916 shares of the scientific and technical instruments company’s stock worth $154,000 after purchasing an additional 915 shares during the period. Institutional investors own 89.01% of the company’s stock.

About Badger Meter

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.