StockNews.com Upgrades Badger Meter (NYSE:BMI) to Buy

Badger Meter (NYSE:BMI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other analysts have also commented on BMI. Maxim Group lifted their price target on shares of Badger Meter from $190.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday. Northcoast Research upgraded shares of Badger Meter from a “sell” rating to a “neutral” rating in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of Badger Meter from $147.00 to $175.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Robert W. Baird lifted their price target on shares of Badger Meter from $151.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $162.50.

Badger Meter Trading Down 1.0 %

NYSE:BMI traded down $1.80 on Friday, reaching $176.68. 545,411 shares of the stock traded hands, compared to its average volume of 184,703. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 56.27, a PEG ratio of 3.52 and a beta of 0.86. Badger Meter has a 12 month low of $126.66 and a 12 month high of $181.00. The company’s fifty day simple moving average is $157.41 and its 200 day simple moving average is $150.56.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.17. Badger Meter had a net margin of 13.16% and a return on equity of 19.07%. The firm had revenue of $196.80 million during the quarter, compared to analyst estimates of $182.25 million. During the same period in the previous year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. Equities analysts anticipate that Badger Meter will post 3.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP William R. A. Bergum sold 194 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $159.55, for a total value of $30,952.70. Following the transaction, the vice president now owns 13,672 shares of the company’s stock, valued at $2,181,367.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Badger Meter news, VP William R. A. Bergum sold 1,416 shares of Badger Meter stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $156.23, for a total transaction of $221,221.68. Following the transaction, the vice president now owns 13,422 shares of the company’s stock, valued at $2,096,919.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William R. A. Bergum sold 194 shares of Badger Meter stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $159.55, for a total transaction of $30,952.70. Following the transaction, the vice president now directly owns 13,672 shares in the company, valued at approximately $2,181,367.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,813 shares of company stock valued at $448,167. 0.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Badger Meter

Several large investors have recently added to or reduced their stakes in BMI. Norges Bank purchased a new position in Badger Meter during the fourth quarter valued at approximately $47,359,000. Rockefeller Capital Management L.P. lifted its holdings in Badger Meter by 434.2% during the first quarter. Rockefeller Capital Management L.P. now owns 372,468 shares of the scientific and technical instruments company’s stock valued at $45,372,000 after purchasing an additional 302,742 shares in the last quarter. State Street Corp lifted its holdings in shares of Badger Meter by 10.6% in the second quarter. State Street Corp now owns 2,070,197 shares of the scientific and technical instruments company’s stock worth $167,458,000 after buying an additional 198,228 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Badger Meter by 129.1% in the second quarter. Goldman Sachs Group Inc. now owns 250,391 shares of the scientific and technical instruments company’s stock worth $20,254,000 after buying an additional 141,111 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Badger Meter by 851.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 141,591 shares of the scientific and technical instruments company’s stock worth $21,585,000 after acquiring an additional 126,707 shares during the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Company Profile

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.