Badger Meter (NYSE:BMI) Given New $208.00 Price Target at Stifel Nicolaus

by · The Cerbat Gem

Badger Meter (NYSE:BMI – Free Report) had its price target lifted by Stifel Nicolaus from $203.00 to $208.00 in a report published on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the scientific and technical instruments company’s stock.

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

Check Out Our Latest Stock Report on BMI

Badger Meter Trading Up 1.2 %

Shares of BMI opened at $237.52 on Wednesday. Badger Meter has a 12 month low of $139.50 and a 12 month high of $238.73. The business’s fifty day simple moving average is $216.94 and its two-hundred day simple moving average is $204.40. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 58.94, a P/E/G ratio of 2.82 and a beta of 0.79.

Badger Meter (NYSE:BMI – Get Free Report) last released its quarterly earnings data 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 business had revenue of $208.44 million during the quarter, compared to the consensus estimate of $212.08 million. Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. Badger Meter’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, research analysts forecast that Badger Meter will post 4.19 EPS for the current year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.34 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.36 annualized dividend and a yield of 0.57%. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BMI. Marshall Wace LLP bought a new stake in shares of Badger Meter during the 2nd quarter valued at $10,622,000. Driehaus Capital Management LLC grew its holdings in Badger Meter by 66.4% during the second quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company’s stock valued at $23,974,000 after purchasing an additional 51,318 shares during the period. Millennium Management LLC increased its position in Badger Meter by 86.2% in the second quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company’s stock worth $18,782,000 after buying an additional 46,650 shares in the last quarter. Barclays PLC raised its stake in shares of Badger Meter by 348.5% in the third quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company’s stock worth $12,034,000 after buying an additional 42,806 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Badger Meter by 47.1% in the second quarter. Renaissance Technologies LLC now owns 126,100 shares of the scientific and technical instruments company’s stock worth $23,499,000 after buying an additional 40,400 shares during the period. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Company Profile

(Get Free Report)

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.

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