Badger Meter (NYSE:BMI) Upgraded at Robert W. Baird

Badger Meter (NYSE:BMI) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $173.00 price objective on the scientific and technical instruments company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 18.19% from the company’s current price.

A number of other equities research analysts also recently issued reports on BMI. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $167.00 price target on shares of Badger Meter in a report on Thursday, January 29th. Jefferies Financial Group reduced their price objective on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. Argus cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Barclays set a $136.00 price target on shares of Badger Meter and gave the company an “underweight” rating in a report on Thursday, January 29th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Badger Meter currently has a consensus rating of “Hold” and an average target price of $182.88.

Badger Meter Stock Performance

Shares of NYSE BMI opened at $146.38 on Monday. Badger Meter has a fifty-two week low of $139.14 and a fifty-two week high of $256.08. The stock has a market cap of $4.27 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The stock has a fifty day moving average of $153.99 and a 200-day moving average of $169.99.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The company had revenue of $220.71 million for the quarter, compared to analysts’ expectations of $232.30 million. During the same period last year, the company posted $1.04 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts predict that Badger Meter will post 4.65 EPS for the current year.

Insider Activity at Badger Meter

In other Badger Meter news, VP Kimberly K. Stoll sold 1,634 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total value of $243,482.34. Following the completion of the sale, the vice president owned 3,256 shares of the company’s stock, valued at $485,176.56. This represents a 33.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Wrocklage purchased 1,650 shares of Badger Meter stock in a transaction on Monday, February 9th. The shares were acquired at an average price of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the transaction, the executive vice president directly owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. The trade was a 9.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 3,989 shares of company stock worth $596,002 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Badger Meter

A number of institutional investors have recently made changes to their positions in BMI. Brighton Jones LLC bought a new position in Badger Meter during the 4th quarter valued at approximately $227,000. NewEdge Advisors LLC increased its stake in shares of Badger Meter by 328.0% during the first quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock valued at $717,000 after buying an additional 2,886 shares during the period. Cetera Investment Advisers increased its stake in shares of Badger Meter by 10.6% during the second quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company’s stock valued at $572,000 after buying an additional 223 shares during the period. American Century Companies Inc. raised its holdings in shares of Badger Meter by 11.0% during the second quarter. American Century Companies Inc. now owns 19,320 shares of the scientific and technical instruments company’s stock valued at $4,732,000 after acquiring an additional 1,909 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Badger Meter by 3.1% during the second quarter. Quadrant Capital Group LLC now owns 4,050 shares of the scientific and technical instruments company’s stock valued at $992,000 after acquiring an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.