Badger Meter (NYSE:BMI) Sets New 12-Month High - Time to Buy?

Badger Meter, Inc. (NYSE:BMI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $250.41 and last traded at $250.07, with a volume of 217209 shares. The stock had previously closed at $243.46.

Analysts Set New Price Targets

BMI has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Badger Meter from $209.00 to $196.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Robert W. Baird lowered their price objective on Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Royal Bank of Canada upped their price objective on Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Argus set a $240.00 target price on Badger Meter in a research report on Thursday, April 24th. Finally, Maxim Group upped their target price on Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Badger Meter presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.80.

Badger Meter Stock Performance

The business has a 50-day simple moving average of $213.82 and a two-hundred day simple moving average of $213.89. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 58.79, a PEG ratio of 3.89 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.22. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. The company had revenue of $222.21 million during the quarter, compared to analysts' expectations of $220.39 million. During the same period last year, the firm earned $0.99 EPS. Research analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 0.55%. Badger Meter's payout ratio is 29.96%.

Insider Transactions at Badger Meter

In related news, VP William R. A. Bergum sold 148 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $212.13, for a total value of $31,395.24. Following the completion of the transaction, the vice president now directly owns 14,051 shares of the company's stock, valued at $2,980,638.63. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Karen M. Bauer sold 1,147 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total value of $240,571.78. Following the completion of the transaction, the vice president now directly owns 5,076 shares of the company's stock, valued at $1,064,640.24. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,533 shares of company stock valued at $3,890,249. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Badger Meter

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in Badger Meter by 348.5% in the third quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company's stock valued at $12,034,000 after acquiring an additional 42,806 shares during the last quarter. Brighton Jones LLC acquired a new position in Badger Meter in the fourth quarter valued at $227,000. R Squared Ltd acquired a new position in Badger Meter in the fourth quarter valued at $28,000. Institute for Wealth Management LLC. boosted its holdings in Badger Meter by 17.2% in the fourth quarter. Institute for Wealth Management LLC. now owns 1,727 shares of the scientific and technical instruments company's stock valued at $366,000 after acquiring an additional 253 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in Badger Meter in the fourth quarter valued at about $39,000. 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.