Badger Meter (NYSE:BMI) Price Target Raised to $230.00

Badger Meter (NYSE:BMI) had its price target upped by Stifel Nicolaus from $200.00 to $230.00 in a report published on Monday,Benzinga reports. The brokerage currently has a hold rating on the scientific and technical instruments company’s stock.

Other equities research analysts also recently issued research reports about the stock. Argus set a $240.00 target price on shares of Badger Meter in a research note on Thursday, April 24th. Robert W. Baird decreased their price target on shares of Badger Meter from $218.00 to $216.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Royal Bank Of Canada raised their price objective on Badger Meter from $238.00 to $252.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Finally, Raymond James Financial initiated coverage on Badger Meter in a report on Tuesday, June 3rd. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $236.60.

Badger Meter Stock Down 0.3%

Shares of Badger Meter stock opened at $241.81 on Monday. The business has a fifty day simple moving average of $230.04 and a 200 day simple moving average of $216.58. The stock has a market cap of $7.12 billion, a PE ratio of 53.26, a price-to-earnings-growth ratio of 3.48 and a beta of 0.85. Badger Meter has a 12 month low of $162.17 and a 12 month high of $256.08.

Badger Meter (NYSE:BMI) last posted its earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share (EPS) for the quarter, topping 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 return on equity of 22.35% and a net margin of 15.74%. During the same period in the previous year, the company earned $0.99 EPS. Analysts expect that Badger Meter will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, May 23rd. Badger Meter’s dividend payout ratio is 29.96%.

Hedge Funds Weigh In On Badger Meter

A number of large investors have recently added to or reduced their stakes in BMI. Brighton Jones LLC acquired a new position in shares of Badger Meter during the fourth quarter worth about $227,000. Empowered Funds LLC bought a new stake in Badger Meter in the 4th quarter valued at approximately $826,000. Allspring Global Investments Holdings LLC acquired a new position in Badger Meter during the 4th quarter worth approximately $1,615,000. Van ECK Associates Corp grew its stake in shares of Badger Meter by 68.1% during the 4th quarter. Van ECK Associates Corp now owns 33,395 shares of the scientific and technical instruments company’s stock worth $7,083,000 after acquiring an additional 13,526 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of Badger Meter by 2,457.1% in the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 172 shares during the last quarter. 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.