Badger Meter (NYSE:BMI) Hits New 52-Week High - Time to Buy?

Shares of Badger Meter, Inc. (NYSE:BMI - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $240.85 and last traded at $233.17, with a volume of 48990 shares trading hands. The stock had previously closed at $230.88.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Maxim Group lifted their target price on Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Argus set a $240.00 price objective on Badger Meter in a research report on Thursday, April 24th. Stifel Nicolaus reduced 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 reduced 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. Finally, Royal Bank of Canada boosted 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. Three research 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $229.80.

Badger Meter Stock Performance

The company has a market cap of $6.93 billion, a P/E ratio of 55.60, a P/E/G ratio of 3.89 and a beta of 0.83. The stock has a 50 day moving average price of $200.65 and a 200 day moving average price of $210.49.

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, beating the consensus estimate of $1.08 by $0.22. The company had revenue of $222.21 million during the quarter, compared to analyst estimates of $220.39 million. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. During the same quarter last year, the firm posted $0.99 EPS. As a group, equities research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current 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 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 0.58%. Badger Meter's payout ratio is presently 29.96%.

Insider Buying and Selling

In related news, VP William R. A. Bergum sold 148 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $212.13, for a total transaction of $31,395.24. Following the transaction, the vice president now directly owns 14,051 shares of the company's stock, valued at approximately $2,980,638.63. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kenneth Bockhorst sold 1,165 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $212.13, for a total transaction of $247,131.45. Following the completion of the transaction, the chief executive officer now directly owns 52,620 shares in the company, valued at $11,162,280.60. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,949 shares of company stock valued at $4,398,407. Company insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new position in Badger Meter during the fourth quarter valued at about $25,000. R Squared Ltd bought a new position in shares of Badger Meter in the 4th quarter valued at approximately $28,000. Bessemer Group Inc. lifted its holdings in Badger Meter by 162.5% in the 4th quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock worth $31,000 after purchasing an additional 91 shares during the last quarter. Golden State Wealth Management LLC boosted its position in Badger Meter by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 92 shares during the period. Finally, SBI Securities Co. Ltd. boosted its position in Badger Meter by 83.0% during the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 88 shares during the period. 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.

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