Badger Meter (NYSE:BMI) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Badger Meter (NYSE:BMIGet Rating) from a buy rating to a hold rating in a research note released on Thursday.

Several other research analysts have also recently issued reports on BMI. Stifel Nicolaus cut their price objective on Badger Meter from $88.00 to $79.00 in a research report on Wednesday, July 20th. Northcoast Research assumed coverage on Badger Meter in a research report on Friday, July 15th. They issued a neutral rating for the company. Morgan Stanley cut their price objective on Badger Meter from $95.00 to $80.00 and set an underweight rating for the company in a research report on Thursday, June 9th. Finally, TheStreet upgraded Badger Meter from a c+ rating to a b- rating in a research report on Wednesday, August 3rd. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $94.67.

Badger Meter Stock Down 1.0 %

Shares of BMI opened at $92.78 on Thursday. The stock has a 50 day moving average price of $95.02 and a 200 day moving average price of $88.77. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 42.37 and a beta of 0.85. Badger Meter has a 52-week low of $73.20 and a 52-week high of $112.36.

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

Badger Meter Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 26th were paid a $0.225 dividend. This is a positive change from Badger Meter’s previous quarterly dividend of $0.20. This represents a $0.90 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Thursday, August 25th. Badger Meter’s payout ratio is currently 41.10%.

Insider Activity at Badger Meter

In related news, VP William R. A. Bergum sold 2,362 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $96.40, for a total transaction of $227,696.80. Following the sale, the vice president now directly owns 11,861 shares in the company, valued at approximately $1,143,400.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Badger Meter

Hedge funds and other institutional investors have recently bought and sold shares of the business. Princeton Global Asset Management LLC purchased a new stake in Badger Meter during the 1st quarter worth approximately $27,000. National Bank of Canada FI bought a new stake in shares of Badger Meter in the 1st quarter valued at approximately $30,000. CWM LLC increased its holdings in shares of Badger Meter by 60.6% in the 1st quarter. CWM LLC now owns 355 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 134 shares during the last quarter. BerganKDV Wealth Management LLC bought a new stake in shares of Badger Meter in the 2nd quarter valued at approximately $32,000. Finally, Trust Co. of Vermont bought a new stake in shares of Badger Meter in the 2nd quarter valued at approximately $47,000. 86.42% of the stock is currently owned by hedge funds and other institutional investors.

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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