Badger Meter (NYSE:BMI) VP Fred Begale Sells 2,064 Shares
by Sarita Garza · The Markets DailyBadger Meter, Inc. (NYSE:BMI – Get Free Report) VP Fred Begale sold 2,064 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $150.00, for a total value of $309,600.00. Following the completion of the sale, the vice president directly owned 3,040 shares of the company’s stock, valued at $456,000. This represents a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Badger Meter Price Performance
Shares of Badger Meter stock traded up $0.48 during midday trading on Wednesday, hitting $149.24. The company had a trading volume of 242,603 shares, compared to its average volume of 412,336. Badger Meter, Inc. has a 1-year low of $139.14 and a 1-year high of $256.08. The business’s 50 day simple moving average is $162.88 and its two-hundred day simple moving average is $174.25. The stock has a market cap of $4.35 billion, a PE ratio of 30.99, a P/E/G ratio of 2.39 and a beta of 0.87.
Badger Meter (NYSE:BMI – Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The company had revenue of $220.71 million during the quarter, compared to the consensus estimate of $232.30 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. During the same period last year, the company earned $1.04 earnings per share. Badger Meter’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.
Badger Meter Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, February 27th. Badger Meter’s payout ratio is currently 33.33%.
Analysts Set New Price Targets
A number of brokerages recently commented on BMI. Barclays set a $136.00 target price on Badger Meter and gave the company an “underweight” rating in a research note on Thursday, January 29th. Robert W. Baird set a $165.00 price objective on shares of Badger Meter in a research note on Thursday, January 29th. Argus downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $167.00 target price on shares of Badger Meter in a research note on Thursday, January 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Badger Meter in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Badger Meter presently has a consensus rating of “Hold” and an average target price of $181.88.
Check Out Our Latest Report on Badger Meter
Hedge Funds Weigh In On Badger Meter
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Badger Meter during the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its position in Badger Meter by 76.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new position in Badger Meter in the fourth quarter worth $27,000. Caitlin John LLC bought a new stake in shares of Badger Meter during the third quarter worth $31,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Badger Meter by 62.3% in the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors and hedge funds.
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.