Badger Meter (NYSE:BMI) Price Target Raised to $203.00 at Robert W. Baird

Badger Meter (NYSE:BMI) had its target price increased by Robert W. Baird from $184.00 to $203.00 in a research note released on Friday morning, Benzinga reports. They currently have a neutral rating on the scientific and technical instruments company’s stock.

BMI has been the subject of several other research reports. Argus increased their price target on shares of Badger Meter from $204.00 to $218.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded Badger Meter from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Maxim Group upped their price target on Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus lifted their price objective on Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Badger Meter presently has an average rating of “Hold” and a consensus target price of $214.75.

Badger Meter Trading Down 1.6 %

Shares of NYSE:BMI opened at $204.34 on Friday. The firm has a market capitalization of $6.01 billion, a PE ratio of 58.89, a PEG ratio of 3.07 and a beta of 0.77. Badger Meter has a 1-year low of $134.06 and a 1-year high of $230.76. The business’s 50 day moving average is $209.84 and its 200-day moving average is $195.68.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). Badger Meter had a return on equity of 21.42% and a net margin of 14.44%. The business had revenue of $208.44 million for the quarter, compared to analyst estimates of $212.08 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts predict that Badger Meter will post 4.1 EPS for the current year.

Badger Meter Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.67%. This is a boost from Badger Meter’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, August 23rd. Badger Meter’s dividend payout ratio (DPR) is currently 39.19%.

Insider Buying and Selling at Badger Meter

In other news, VP Kimberly K. Stoll sold 1,097 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $205.00, for a total value of $224,885.00. Following the completion of the sale, the vice president now directly owns 3,861 shares in the company, valued at approximately $791,505. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Badger Meter

Several hedge funds have recently modified their holdings of BMI. Marshall Wace LLP bought a new position in Badger Meter in the 2nd quarter worth approximately $10,622,000. Driehaus Capital Management LLC raised its position in shares of Badger Meter by 66.4% during the second quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company’s stock worth $23,974,000 after acquiring an additional 51,318 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Badger Meter by 86.2% during the second quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company’s stock valued at $18,782,000 after acquiring an additional 46,650 shares during the period. Renaissance Technologies LLC boosted its holdings in Badger Meter by 47.1% in the second quarter. Renaissance Technologies LLC now owns 126,100 shares of the scientific and technical instruments company’s stock valued at $23,499,000 after acquiring an additional 40,400 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Badger Meter by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,651,786 shares of the scientific and technical instruments company’s stock worth $563,726,000 after purchasing an additional 37,517 shares during the period. 89.01% of the stock is owned by institutional investors.

Badger Meter Company Profile

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.