Badger Meter, Inc. (NYSE:BMI) Receives $237.00 Consensus Target Price from Analysts

Key Points

• Badger Meter, Inc. has received a consensus rating of "Moderate Buy" from six ratings firms, with an average 12-month target price of $237.00.
• Institutional investors ownership stands at 89.01%, with several hedge funds increasing their positions significantly in recent months.
• The company recently declared a quarterly dividend of $0.40, marking an increase from the previous dividend of $0.34, bringing the annualized yield to 0.9%.

Badger Meter, Inc. (NYSE:BMI - Get Free Report) has received an average rating of "Moderate Buy" from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $237.00.

BMI has been the topic of a number of research analyst reports. Raymond James Financial initiated coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Royal Bank Of Canada decreased their price objective on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Robert W. Baird boosted their price objective on shares of Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price target on shares of Badger Meter in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. started coverage on shares of Badger Meter in a report on Tuesday, September 9th. They issued an "overweight" rating and a $230.00 price target on the stock.

Badger Meter Stock Performance

BMI stock traded down $2.50 during trading on Friday, reaching $174.73. 126,068 shares of the company were exchanged, compared to its average volume of 290,203. The company has a market cap of $5.15 billion, a P/E ratio of 38.07, a PEG ratio of 3.13 and a beta of 0.88. Badger Meter has a 52-week low of $162.17 and a 52-week high of $256.08. The stock's 50 day moving average price is $191.19 and its 200 day moving average price is $211.19.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). The company had revenue of $238.10 million for the quarter, compared to analysts' expectations of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The firm's quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 EPS. As a group, equities research analysts forecast that Badger Meter will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. This is a boost from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, August 22nd. Badger Meter's payout ratio is currently 34.86%.

Institutional Trading of Badger Meter

Institutional investors and hedge funds have recently modified their holdings of the business. Golden State Wealth Management LLC lifted its holdings in shares of Badger Meter by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 92 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Badger Meter by 83.0% in the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 88 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Badger Meter in the first quarter valued at about $37,000. Heck Capital Advisors LLC purchased a new stake in shares of Badger Meter in the fourth quarter valued at about $39,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Badger Meter in the first quarter valued at about $41,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.