Badger Meter (NYSE:BMI – Get Free Report) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other equities analysts have also recently issued reports on the stock. Barclays reiterated an “underweight” rating and set a $112.00 price target (up from $109.00) on shares of Badger Meter in a research report on Tuesday, July 28th. Stifel Nicolaus set a $170.00 price objective on shares of Badger Meter and gave the stock a “buy” rating in a report on Monday, July 20th. Seaport Research Partners set a $160.00 price objective on Badger Meter in a research report on Thursday, July 23rd. Zacks Research upgraded Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Robert W. Baird set a $167.00 target price on Badger Meter and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $164.00.
Read Our Latest Research Report on BMI
Badger Meter Stock Up 0.3%
Badger Meter (NYSE:BMI – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The business had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $220.59 million. During the same quarter in the previous year, the business posted $1.17 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts anticipate that Badger Meter will post 4.43 earnings per share for the current year.
Insider Transactions at Badger Meter
In other Badger Meter news, VP Edward F. Callahan purchased 751 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average cost of $135.25 per share, with a total value of $101,572.75. Following the transaction, the vice president directly owned 1,937 shares in the company, valued at approximately $261,979.25. The trade was a 63.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Badger Meter
A number of institutional investors and hedge funds have recently made changes to their positions in BMI. Wedmont Private Capital purchased a new position in shares of Badger Meter during the second quarter valued at approximately $237,000. Raiffeisen Bank International AG boosted its position in shares of Badger Meter by 66.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 20,000 shares of the scientific and technical instruments company’s stock worth $2,773,000 after purchasing an additional 8,000 shares in the last quarter. Nykredit A S purchased a new stake in shares of Badger Meter in the 2nd quarter worth approximately $348,000. Grandeur Peak Global Advisors LLC grew its stake in shares of Badger Meter by 654.3% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 29,334 shares of the scientific and technical instruments company’s stock worth $4,353,000 after buying an additional 25,445 shares during the last quarter. Finally, Fundsmith LLP increased its position in Badger Meter by 22.6% during the 2nd quarter. Fundsmith LLP now owns 174,627 shares of the scientific and technical instruments company’s stock valued at $25,911,000 after buying an additional 32,136 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.
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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