BidaskClub lowered shares of Badger Meter, Inc. (NYSE:BMI) from a buy rating to a hold rating in a report released on Thursday.
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 downgraded Badger Meter from a hold rating to a sell rating in a report on Tuesday, April 11th.
Shares of Badger Meter (BMI) opened at 40.40 on Thursday. Badger Meter has a 12 month low of $29.30 and a 12 month high of $41.70. The company’s 50-day moving average price is $39.25 and its 200-day moving average price is $37.67. The company has a market cap of $1.18 billion, a P/E ratio of 35.75 and a beta of 0.54.
Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, April 19th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Badger Meter had a return on equity of 13.02% and a net margin of 8.37%. The company had revenue of $101.60 million for the quarter, compared to the consensus estimate of $102.63 million. During the same quarter in the prior year, the business earned $0.55 EPS. Badger Meter’s revenue was up 1.0% on a year-over-year basis. Equities analysts forecast that Badger Meter will post $1.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, May 26th. This represents a $0.46 annualized dividend and a dividend yield of 1.14%. Badger Meter’s dividend payout ratio is currently 40.53%.
In other 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 completion of the transaction, the vice president now directly owns 95,633 shares of the company’s stock, valued at approximately $3,854,009.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Raymond G. Serdynski sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $40.58, for a total value of $101,450.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,908 shares of company stock valued at $4,908,212. Insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in Badger Meter by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,210 shares of the scientific and technical instruments company’s stock valued at $117,000 after buying an additional 60 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in Badger Meter during the first quarter valued at about $135,000. Clean Yield Group acquired a new position in Badger Meter during the first quarter valued at about $153,000. Victory Capital Management Inc. boosted its position in Badger Meter by 33.2% in the first quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock valued at $164,000 after buying an additional 1,116 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new position in Badger Meter during the fourth quarter valued at about $187,000. 84.46% of the stock is owned by institutional investors and hedge funds.
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.
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