Royal Bank of Canada Issues Positive Forecast for Badger Meter (NYSE:BMI) Stock Price

Badger Meter (NYSE:BMI - Free Report) had its price target hoisted by Royal Bank of Canada from $238.00 to $252.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the scientific and technical instruments company's stock.

Other equities analysts have also issued reports about the stock. Robert W. Baird dropped their price target on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Stifel Nicolaus dropped their target price on shares of Badger Meter from $209.00 to $196.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Finally, Maxim Group lifted their price target on shares of Badger Meter from $235.00 to $245.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $229.80.

Badger Meter Price Performance

Shares of Badger Meter stock traded down $1.13 during trading on Monday, hitting $216.35. 152,757 shares of the stock were exchanged, compared to its average volume of 203,333. The firm's 50-day moving average price is $197.85 and its 200 day moving average price is $209.81. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 51.15, a price-to-earnings-growth ratio of 3.89 and a beta of 0.84. Badger Meter has a 12-month low of $162.17 and a 12-month high of $239.11.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share (EPS) 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 the consensus estimate of $220.39 million. During the same period in the previous year, the business earned $0.99 EPS. As a group, research analysts forecast that Badger Meter will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.63%. Badger Meter's payout ratio is 29.96%.

Insider Buying and Selling

In related news, VP Karen M. Bauer sold 1,147 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total transaction of $240,571.78. Following the transaction, the vice president now owns 5,076 shares of the company's stock, valued at $1,064,640.24. This trade represents a 18.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP William R. A. Bergum sold 148 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were 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 owns 14,051 shares in the company, valued at $2,980,638.63. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,949 shares of company stock worth $4,398,407 in the last 90 days. Company insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On Badger Meter

A number of hedge funds and other institutional investors have recently bought and sold shares of BMI. Aster Capital Management DIFC Ltd acquired a new stake in shares of Badger Meter in the 4th quarter worth $25,000. R Squared Ltd purchased a new position in Badger Meter during the fourth quarter worth about $28,000. Bessemer Group Inc. lifted its position in Badger Meter by 162.5% in the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after purchasing an additional 91 shares during the period. Golden State Wealth Management LLC boosted its holdings in Badger Meter by 100.0% in the 1st 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. Finally, Principal Securities Inc. increased its position in Badger Meter by 2,457.1% during the 4th quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock worth $38,000 after purchasing an additional 172 shares during the period. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

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.