Badger Meter, Inc. (BMI) Stock Rating Reaffirmed by Robert W. Baird

Robert W. Baird restated their hold rating on shares of Badger Meter, Inc. (NYSE:BMI) in a report issued on Tuesday, October 17th. The brokerage currently has a $44.00 target price on the scientific and technical instruments company’s stock.

BMI has been the topic of a number of other research reports. Stifel Nicolaus initiated coverage on Badger Meter in a report on Monday, September 18th. They issued a hold rating and a $43.00 price objective on the stock. Canaccord Genuity reiterated a hold rating and set a $40.00 price target on shares of Badger Meter in a report on Friday, October 6th. Sidoti lifted their price target on Badger Meter from $55.00 to $65.00 and gave the stock a buy rating in a report on Thursday, October 5th. Zacks Investment Research lowered Badger Meter from a strong-buy rating to a hold rating in a report on Wednesday, September 20th. Finally, Boenning Scattergood reiterated a hold rating on shares of Badger Meter in a report on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Badger Meter currently has a consensus rating of Hold and a consensus target price of $48.00.

Badger Meter (NYSE BMI) traded up 0.46% during trading on Tuesday, hitting $44.05. 106,582 shares of the company traded hands. The stock has a market capitalization of $1.27 billion, a PE ratio of 38.30 and a beta of 0.56. Badger Meter has a 52 week low of $31.41 and a 52 week high of $52.10. The company’s 50 day moving average is $47.36 and its 200-day moving average is $42.66.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Monday, October 16th. The scientific and technical instruments company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). The firm had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $102.86 million. Badger Meter had a net margin of 8.39% and a return on equity of 12.62%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. Analysts predict that Badger Meter will post $1.19 earnings per share for the current year.

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In related news, Chairman Richard A. Meeusen sold 16,500 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $44.61, for a total transaction of $736,065.00. Following the completion of the sale, the chairman now directly owns 164,620 shares of the company’s stock, valued at approximately $7,343,698.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Beverly L. P. Smiley sold 7,550 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $45.26, for a total value of $341,713.00. Following the sale, the vice president now directly owns 56,449 shares of the company’s stock, valued at $2,554,881.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,900 shares of company stock worth $1,847,078. Insiders own 4.50% of the company’s stock.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Badger Meter by 24,345.9% during the 1st quarter. BlackRock Inc. now owns 3,496,500 shares of the scientific and technical instruments company’s stock worth $128,499,000 after purchasing an additional 3,482,197 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Badger Meter by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,828,174 shares of the scientific and technical instruments company’s stock worth $112,703,000 after purchasing an additional 33,137 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Badger Meter by 2.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,658,855 shares of the scientific and technical instruments company’s stock worth $66,105,000 after purchasing an additional 41,724 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Badger Meter by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock worth $44,926,000 after purchasing an additional 10,712 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Badger Meter by 34.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 954,492 shares of the scientific and technical instruments company’s stock worth $35,077,000 after purchasing an additional 244,086 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Company Profile

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.

Analyst Recommendations for Badger Meter (NYSE:BMI)

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