Canaccord Genuity reissued their sell rating on shares of Badger Meter (NYSE:BMI) in a research report released on Wednesday morning. The firm currently has a $42.00 price objective on the scientific and technical instruments company’s stock.
“We expect Badger will continue to benefit from favorable demand for water/flow measurement and conservation technologies in the future. While we historically have had no issues paying a premium for shares in general, we believe risk outweighs reward right here.”,” Canaccord Genuity’s analyst commented.
BMI has been the topic of a number of other research reports. Stifel Nicolaus reiterated a hold rating and issued a $51.00 price objective (up previously from $45.00) on shares of Badger Meter in a report on Tuesday, January 16th. Zacks Investment Research upgraded Badger Meter from a strong sell rating to a hold rating in a report on Tuesday, December 19th. ValuEngine upgraded Badger Meter from a hold rating to a buy rating in a report on Monday, April 2nd. Finally, Robert W. Baird increased their price objective on Badger Meter from $45.00 to $48.00 and gave the company a neutral rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $52.00.
Badger Meter (NYSE:BMI) last released its quarterly earnings data on Tuesday, February 6th. The scientific and technical instruments company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Badger Meter had a return on equity of 12.78% and a net margin of 8.59%. The business had revenue of $96.65 million for the quarter, compared to the consensus estimate of $98.08 million. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. sell-side analysts forecast that Badger Meter will post 1.6 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.52 dividend on an annualized basis and a yield of 1.14%. Badger Meter’s dividend payout ratio is presently 43.70%.
In related news, Chairman Richard A. Meeusen sold 13,130 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $48.78, for a total transaction of $640,481.40. Following the transaction, the chairman now owns 105,992 shares in the company, valued at approximately $5,170,289.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kimberly K. Stoll sold 2,040 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $48.47, for a total value of $98,878.80. The disclosure for this sale can be found here. Insiders have sold a total of 35,093 shares of company stock worth $1,734,158 in the last 90 days. 2.80% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. American International Group Inc. grew its stake in Badger Meter by 5.7% during the 3rd quarter. American International Group Inc. now owns 22,357 shares of the scientific and technical instruments company’s stock worth $1,095,000 after buying an additional 1,202 shares during the last quarter. BB&T Securities LLC grew its stake in Badger Meter by 8.7% during the 4th quarter. BB&T Securities LLC now owns 17,320 shares of the scientific and technical instruments company’s stock worth $827,000 after buying an additional 1,382 shares during the last quarter. Zeke Capital Advisors LLC grew its stake in Badger Meter by 11.6% during the 4th quarter. Zeke Capital Advisors LLC now owns 15,441 shares of the scientific and technical instruments company’s stock worth $738,000 after buying an additional 1,609 shares during the last quarter. Swiss National Bank grew its stake in Badger Meter by 3.5% during the 4th quarter. Swiss National Bank now owns 49,600 shares of the scientific and technical instruments company’s stock worth $2,371,000 after buying an additional 1,700 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Badger Meter by 39.8% during the 4th quarter. Raymond James & Associates now owns 6,789 shares of the scientific and technical instruments company’s stock worth $325,000 after buying an additional 1,933 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.
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Badger Meter Company Profile
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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