Badger Meter, Inc. (NYSE:BMI) Downgraded to Hold at BidaskClub

BidaskClub downgraded shares of Badger Meter, Inc. (NYSE:BMI) from a buy rating to a hold rating in a research note released on Tuesday morning.

Several other brokerages also recently weighed in on BMI. Canaccord Genuity restated a hold rating and set a $37.00 price target on shares of Badger Meter in a report on Wednesday, May 24th. Zacks Investment Research upgraded Badger Meter from a sell rating to a hold rating in a report on Wednesday, June 21st. Sidoti restated a buy rating and set a $52.00 price target (up previously from $50.00) on shares of Badger Meter in a report on Monday, June 19th. Finally, Boenning Scattergood restated a hold rating on shares of Badger Meter in a report on Friday, July 21st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $42.00.

Badger Meter (NYSE BMI) traded up 1.38% during trading on Tuesday, hitting $44.20. The stock had a trading volume of 97,803 shares. The firm has a 50 day moving average of $42.31 and a 200-day moving average of $38.84. Badger Meter has a one year low of $29.30 and a one year high of $46.85. The company has a market cap of $1.29 billion, a P/E ratio of 37.46 and a beta of 0.56.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm had revenue of $104.17 million for the quarter, compared to the consensus estimate of $108.02 million. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. Equities analysts anticipate that Badger Meter will post $1.29 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.13 per share. This is an increase from Badger Meter’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.18%. Badger Meter’s dividend payout ratio is 39.32%.

In other Badger Meter news, VP Beverly L. P. Smiley sold 22,100 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $40.30, for a total transaction of $890,630.00. Following the sale, the vice president now owns 95,633 shares in the company, valued at approximately $3,854,009.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Richard A. Meeusen sold 10,699 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $40.96, for a total value of $438,231.04. Following the sale, the chairman now owns 178,720 shares in the company, valued at approximately $7,320,371.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,776 shares of company stock worth $3,858,414. 4.50% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Badger Meter by 24,345.9% in the first quarter. BlackRock Inc. now owns 3,496,500 shares of the scientific and technical instruments company’s stock valued at $128,499,000 after buying an additional 3,482,197 shares during the period. Vanguard Group Inc. increased its stake in shares of Badger Meter by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,828,174 shares of the scientific and technical instruments company’s stock valued at $112,703,000 after buying an additional 33,137 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Badger Meter by 2.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,658,855 shares of the scientific and technical instruments company’s stock valued at $66,105,000 after buying an additional 41,724 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Badger Meter by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock valued at $44,926,000 after buying an additional 10,712 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Badger Meter by 34.4% in the first quarter. Goldman Sachs Group Inc. now owns 954,492 shares of the scientific and technical instruments company’s stock valued at $35,077,000 after buying an additional 244,086 shares during the period. Institutional investors own 84.36% of the company’s stock.

About Badger Meter

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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