Badger Meter (NYSE:BMI) Upgraded to “B-” at TheStreet

TheStreet upgraded shares of Badger Meter (NYSE:BMIGet Rating) from a c+ rating to a b- rating in a report issued on Wednesday, TheStreetRatingsTable reports.

Other research analysts also recently issued research reports about the company. Northcoast Research started coverage on Badger Meter in a report on Friday, July 15th. They issued a neutral rating on the stock. Morgan Stanley reduced their price objective on Badger Meter from $95.00 to $80.00 and set an underweight rating for the company in a research note on Thursday, June 9th. Stifel Nicolaus dropped their target price on shares of Badger Meter from $88.00 to $79.00 in a research report on Wednesday, July 20th. Finally, StockNews.com lowered Badger Meter from a buy rating to a hold rating in a research report on Saturday, April 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $94.67.

Badger Meter Stock Performance

NYSE:BMI opened at $96.14 on Wednesday. The stock has a 50-day simple moving average of $82.89 and a 200 day simple moving average of $89.05. The company has a market cap of $2.81 billion, a PE ratio of 43.90 and a beta of 0.86. Badger Meter has a 52-week low of $73.20 and a 52-week high of $112.36.

Badger Meter (NYSE:BMIGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The business had revenue of $137.80 million for the quarter, compared to analyst estimates of $132.04 million. Badger Meter had a return on equity of 15.83% and a net margin of 12.00%. Badger Meter’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. On average, research analysts predict that Badger Meter will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP William R. A. Bergum sold 2,362 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $96.40, for a total transaction of $227,696.80. Following the completion of the transaction, the vice president now directly owns 11,861 shares of the company’s stock, valued at approximately $1,143,400.40. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Badger Meter

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio increased its holdings in shares of Badger Meter by 150.0% in the fourth quarter. Strs Ohio now owns 500 shares of the scientific and technical instruments company’s stock valued at $53,000 after purchasing an additional 300 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Badger Meter in the fourth quarter valued at $6,632,000. Yousif Capital Management LLC acquired a new position in Badger Meter in the fourth quarter valued at $2,845,000. Qube Research & Technologies Ltd acquired a new position in Badger Meter in the fourth quarter valued at $1,189,000. Finally, Assenagon Asset Management S.A. increased its stake in Badger Meter by 2.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 14,783 shares of the scientific and technical instruments company’s stock worth $1,575,000 after acquiring an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 93.75% of the company’s stock.

Badger Meter Company Profile

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Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.

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