Badger Meter (NYSE:BMI) Reaches New 1-Year High - What's Next?

Badger Meter, Inc. (NYSE:BMI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMI. Stifel Nicolaus decreased their target price on Badger Meter from $209.00 to $196.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Royal Bank of Canada upped their target price on Badger Meter from $238.00 to $252.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Maxim Group upped their price target on Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. 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 note on Monday, April 21st. Finally, Argus set a $240.00 price target on Badger Meter in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.80.

Badger Meter Trading Up 0.1%

The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 58.79, a price-to-earnings-growth ratio of 3.89 and a beta of 0.83. The stock has a fifty day moving average price of $213.82 and a 200 day moving average price of $213.95.

Badger Meter (NYSE:BMI - Get Free Report) last posted its earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.08 by $0.22. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $220.39 million. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. During the same quarter last year, the company earned $0.99 EPS. On average, sell-side analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

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

Insider Activity

In related news, CEO Kenneth Bockhorst sold 16,073 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total value of $3,371,151.02. Following the completion of the sale, the chief executive officer now directly owns 34,961 shares in the company, valued at $7,332,720.14. This represents a 31.49% decrease in their ownership of the stock. 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 stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total value of $240,571.78. Following the sale, the vice president now owns 5,076 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 18,533 shares of company stock worth $3,890,249 over the last three months. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Badger Meter

Several large investors have recently modified their holdings of BMI. Norges Bank purchased a new position in shares of Badger Meter during the 4th quarter valued at $94,547,000. Westfield Capital Management Co. LP purchased a new stake in Badger Meter in the first quarter worth about $65,448,000. Nuveen LLC purchased a new stake in Badger Meter in the first quarter worth about $44,715,000. Pictet Asset Management Holding SA lifted its stake in shares of Badger Meter by 5,897.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 235,322 shares of the scientific and technical instruments company's stock worth $49,917,000 after buying an additional 231,398 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Badger Meter by 21,179.0% in the first quarter. GAMMA Investing LLC now owns 167,040 shares of the scientific and technical instruments company's stock worth $31,779,000 after buying an additional 166,255 shares in the last quarter. 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.