Badger Meter, Inc. (NYSE:BMI) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts hold a neutral view of Badger Meter, with five buy, five hold and one sell rating among 11 firms. The average 12-month price target is $164, versus the stock’s reported price of $135.69.
• Badger Meter slightly exceeded quarterly EPS expectations, reporting $1.02 versus the $1.01 consensus, but revenue of $220.3 million fell 6.6% year over year and narrowly missed estimates.
• Institutional ownership remains high at 89.01%, with major investors including BlackRock, Vanguard and State Street holding or increasing substantial positions; a company vice president also purchased 751 shares.

Shares of Badger Meter, Inc. (NYSE:BMI - Get Free Report) have received a consensus rating of "Hold" from the eleven research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $164.00.

A number of equities analysts have recently commented on BMI shares. Zacks Research raised shares of Badger Meter from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen downgraded shares of Badger Meter from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of Badger Meter from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Maxim Group downgraded shares of Badger Meter from a "buy" rating to a "hold" rating in a report on Thursday, April 23rd. Finally, Stifel Nicolaus set a $170.00 target price on shares of Badger Meter and gave the stock a "buy" rating in a research report on Monday, July 20th.

Badger Meter Stock Performance

BMI opened at $135.69 on Wednesday. The company has a market cap of $3.93 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 2.49 and a beta of 0.65. The stock has a 50-day moving average of $137.35 and a 200-day moving average of $140.66. Badger Meter has a 52-week low of $112.09 and a 52-week high of $204.00.

Badger Meter (NYSE:BMI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.01. The business had revenue of $220.30 million for the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The firm's revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business earned $1.17 EPS. On average, research analysts predict that Badger Meter will post 4.43 earnings per share for the current year.

Insider Activity at Badger Meter

In other Badger Meter news, VP Edward F. Callahan acquired 751 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average price of $135.25 per share, with a total value of $101,572.75. Following the transaction, the vice president owned 1,937 shares of the company's stock, valued at approximately $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BMI. BlackRock Inc. bought a new stake in shares of Badger Meter in the second quarter valued at approximately $725,926,000. Vanguard Group Inc. raised its stake in Badger Meter by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 3,979,893 shares of the scientific and technical instruments company's stock valued at $694,133,000 after purchasing an additional 19,585 shares during the last quarter. State Street Corp raised its stake in Badger Meter by 1.4% during the 2nd quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company's stock valued at $358,315,000 after purchasing an additional 20,122 shares during the last quarter. Invesco Ltd. boosted its holdings in Badger Meter by 20.9% in the 3rd quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company's stock valued at $173,262,000 after purchasing an additional 168,053 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Badger Meter by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 876,854 shares of the scientific and technical instruments company's stock valued at $152,951,000 after purchasing an additional 4,035 shares during the period. 89.01% of the stock is owned by institutional investors.

Badger Meter Company Profile

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.

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