Shares of Badger Meter, Inc. (NYSE:BMI) hit a new 52-week high on Monday . The company traded as high as $53.50 and last traded at $53.55, with a volume of 1101 shares traded. The stock had previously closed at $53.15.
BMI has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Badger Meter from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. ValuEngine lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Stifel Nicolaus upped their price target on shares of Badger Meter from $41.00 to $49.00 and gave the stock a “hold” rating in a research note on Friday, July 20th. Canaccord Genuity raised shares of Badger Meter from a “sell” rating to a “hold” rating and upped their price target for the stock from $40.00 to $44.00 in a research note on Friday, June 15th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of Badger Meter in a research note on Friday, July 20th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Badger Meter has a consensus rating of “Hold” and an average target price of $51.80.
The firm has a market capitalization of $1.52 billion, a P/E ratio of 44.71, a P/E/G ratio of 4.24 and a beta of 0.72.
Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, July 18th. The scientific and technical instruments company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Badger Meter had a net margin of 6.96% and a return on equity of 12.51%. The business had revenue of $113.65 million for the quarter, compared to the consensus estimate of $111.03 million. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. analysts forecast that Badger Meter, Inc. will post 1.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.15 dividend. This is an increase from Badger Meter’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, August 30th. Badger Meter’s payout ratio is presently 43.70%.
In related news, VP Raymond G. Serdynski sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $50.83, for a total value of $304,980.00. Following the sale, the vice president now directly owns 14,471 shares in the company, valued at approximately $735,560.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Todd J. Teske sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $51.15, for a total transaction of $613,800.00. Following the completion of the sale, the director now owns 28,984 shares in the company, valued at $1,482,531.60. The disclosure for this sale can be found here. Insiders sold a total of 48,000 shares of company stock worth $2,414,980 over the last quarter. Insiders own 2.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Badger Meter by 7.4% in the 2nd quarter. BlackRock Inc. now owns 4,028,491 shares of the scientific and technical instruments company’s stock worth $180,074,000 after purchasing an additional 277,731 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Badger Meter by 2.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,723,522 shares of the scientific and technical instruments company’s stock worth $81,264,000 after purchasing an additional 48,163 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Badger Meter by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,137,106 shares of the scientific and technical instruments company’s stock valued at $50,828,000 after acquiring an additional 15,765 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Badger Meter by 29.4% during the second quarter. Wells Fargo & Company MN now owns 686,799 shares of the scientific and technical instruments company’s stock valued at $30,700,000 after acquiring an additional 155,838 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Badger Meter by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 577,317 shares of the scientific and technical instruments company’s stock valued at $25,807,000 after acquiring an additional 10,630 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.
About Badger Meter (NYSE:BMI)
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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