Badger Meter, Inc. (BMI) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Badger Meter, Inc. (NYSE:BMI) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage issued a hold rating and a $43.00 price objective on the scientific and technical instruments company’s stock.

Other analysts also recently issued reports about the company. Sidoti restated a buy rating and issued a $52.00 price target (up from $50.00) on shares of Badger Meter in a research report on Monday, June 19th. BidaskClub upgraded Badger Meter from a hold rating to a buy rating in a research report on Monday, July 24th. Boenning Scattergood restated a hold rating on shares of Badger Meter in a research report on Friday, July 21st. Zacks Investment Research upgraded Badger Meter from a sell rating to a hold rating in a research report on Wednesday, June 21st. Finally, Canaccord Genuity reiterated a hold rating and set a $37.00 target price on shares of Badger Meter in a research report on Wednesday, May 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Badger Meter currently has a consensus rating of Hold and a consensus target price of $42.25.

Badger Meter (BMI) opened at 46.60 on Monday. The firm’s 50-day moving average is $45.01 and its 200-day moving average is $40.39. Badger Meter has a 12 month low of $29.30 and a 12 month high of $46.85. The stock has a market capitalization of $1.36 billion, a P/E ratio of 39.49 and a beta of 0.57.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $104.17 million during 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%. Badger Meter’s revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. On average, equities analysts expect that Badger Meter will post $1.28 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.12%. This is an increase from Badger Meter’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, August 29th. Badger Meter’s dividend payout ratio (DPR) is 44.44%.

In other news, VP Beverly L. P. Smiley sold 7,550 shares of Badger Meter stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $45.26, for a total transaction of $341,713.00. Following the completion of the sale, the vice president now directly owns 56,449 shares in the company, valued at $2,554,881.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kimberly K. Stoll sold 2,830 shares of Badger Meter stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $45.01, for a total value of $127,378.30. Following the sale, the vice president now owns 12,223 shares of the company’s stock, valued at $550,157.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,340 shares of company stock valued at $2,859,651. Corporate insiders own 4.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in BMI. Teachers Advisors LLC lifted its position in shares of Badger Meter by 16.1% during the fourth quarter. Teachers Advisors LLC now owns 52,418 shares of the scientific and technical instruments company’s stock worth $1,937,000 after purchasing an additional 7,256 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Badger Meter by 1.3% during the first quarter. Bank of Montreal Can now owns 17,215 shares of the scientific and technical instruments company’s stock worth $633,000 after purchasing an additional 221 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Badger Meter by 1.7% during the first quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the scientific and technical instruments company’s stock worth $437,000 after purchasing an additional 200 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Badger Meter by 6.5% during the first quarter. Great West Life Assurance Co. Can now owns 39,846 shares of the scientific and technical instruments company’s stock worth $1,463,000 after purchasing an additional 2,436 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Badger Meter by 19.5% during the first quarter. First Trust Advisors LP now owns 165,712 shares of the scientific and technical instruments company’s stock worth $6,090,000 after purchasing an additional 27,063 shares during the last quarter. Institutional investors and hedge funds own 83.96% 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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