Stifel Nicolaus Raises Badger Meter (NYSE:BMI) Price Target to $208.00

Badger Meter (NYSE:BMI) had its price objective increased by Stifel Nicolaus from $203.00 to $208.00 in a research report sent to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also weighed in on BMI. Maxim Group upped their target price on Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Robert W. Baird upped their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $216.00.

Badger Meter Trading Down 1.9 %

Shares of Badger Meter stock opened at $226.19 on Wednesday. The company’s 50-day moving average price is $217.22 and its 200-day moving average price is $204.75. Badger Meter has a 12-month low of $139.50 and a 12-month high of $239.11. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 56.13, a PEG ratio of 2.98 and a beta of 0.79.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). The firm had revenue of $208.44 million during the quarter, compared to the consensus estimate of $212.08 million. Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. On average, sell-side analysts predict that Badger Meter will post 4.19 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, November 22nd. Badger Meter’s payout ratio is currently 33.75%.

Hedge Funds Weigh In On Badger Meter

A number of large investors have recently modified their holdings of BMI. Blue Trust Inc. grew its position in Badger Meter by 1,016.7% during the third quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock valued at $44,000 after acquiring an additional 183 shares during the last quarter. CWM LLC grew its holdings in shares of Badger Meter by 40.9% during the 2nd quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 167 shares during the last quarter. GAMMA Investing LLC raised its position in Badger Meter by 61.3% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the scientific and technical instruments company’s stock worth $176,000 after purchasing an additional 306 shares during the period. Annex Advisory Services LLC bought a new stake in Badger Meter in the third quarter worth $204,000. Finally, ORBA Wealth Advisors L.L.C. purchased a new stake in Badger Meter during the third quarter valued at about $207,000. 89.01% of the stock is 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.