Stifel Nicolaus Lowers Badger Meter (NYSE:BMI) Price Target to $140.00

Key Points

• Stifel Nicolaus cut its price target on Badger Meter from $174 to $140 while maintaining a "buy" rating, implying roughly a 20.9% upside from the prior close.
• Analyst coverage is mixed — five Buy, five Hold and one Sell — leaving an average rating of "Hold" and an average price target of $169.13, with other firms (e.g., Baird, JPMorgan) also trimming targets.
• Shares opened at about $115.76 (near the 1‑year low and well below analyst targets) with a $3.38B market cap; insiders were active recently — the CEO bought 3,300 shares at $152.42 while a VP sold 2,064 shares, and insiders were net sellers over the past three months.

Badger Meter (NYSE:BMI - Get Free Report) had its price target lowered by research analysts at Stifel Nicolaus from $174.00 to $140.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the scientific and technical instruments company's stock. Stifel Nicolaus' price objective indicates a potential upside of 20.94% from the stock's previous close.

Several other equities research analysts have also commented on BMI. Robert W. Baird dropped their price objective on shares of Badger Meter from $173.00 to $145.00 and set an "outperform" rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $167.00 target price on shares of Badger Meter in a research note on Thursday, January 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of Badger Meter in a research report on Wednesday, January 21st. JPMorgan Chase & Co. cut their price target on Badger Meter from $190.00 to $160.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Zacks Research raised Badger Meter from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $169.13.

Badger Meter Price Performance

Shares of NYSE BMI opened at $115.76 on Monday. Badger Meter has a 1 year low of $115.11 and a 1 year high of $256.08. The stock has a market capitalization of $3.38 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.87 and a beta of 0.90. The company's 50-day moving average is $152.42 and its 200 day moving average is $167.43.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter. The business had revenue of $220.71 million during the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%. Research analysts anticipate that Badger Meter will post 4.65 earnings per share for the current year.

Insider Activity at Badger Meter

In other Badger Meter news, VP Fred J. Begale sold 2,064 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $150.00, for a total value of $309,600.00. Following the transaction, the vice president directly owned 3,040 shares of the company's stock, valued at approximately $456,000. This trade represents a 40.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth Bockhorst acquired 3,300 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average cost of $152.42 per share, for a total transaction of $502,986.00. Following the acquisition, the chief executive officer owned 40,013 shares of the company's stock, valued at $6,098,781.46. The trade was a 8.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 3,989 shares of company stock valued at $596,002. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMI. Brighton Jones LLC purchased a new position in Badger Meter during the fourth quarter valued at approximately $227,000. NewEdge Advisors LLC raised its position in shares of Badger Meter by 328.0% during the 1st quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company's stock valued at $717,000 after purchasing an additional 2,886 shares during the period. Cetera Investment Advisers raised its position in shares of Badger Meter by 10.6% during the 2nd quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company's stock valued at $572,000 after purchasing an additional 223 shares during the period. M&T Bank Corp purchased a new position in shares of Badger Meter during the 2nd quarter valued at $200,000. Finally, California Public Employees Retirement System lifted its stake in shares of Badger Meter by 11.2% during the 2nd quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company's stock valued at $12,303,000 after buying an additional 5,041 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Company Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company's core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company's product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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