BidaskClub upgraded shares of Badger Meter, Inc. (NYSE:BMI) from a hold rating to a buy rating in a research report sent to investors on Monday, July 24th.
Other research analysts have also issued reports about the company. Sidoti reissued a buy rating and issued a $52.00 price objective (up from $50.00) on shares of Badger Meter in a research report on Monday, June 19th. Boenning Scattergood reissued a hold rating on shares of Badger Meter in a research report on Friday, July 21st. Zacks Investment Research raised Badger Meter from a sell rating to a hold rating in a research report on Wednesday, June 21st. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $37.00 target price on shares of Badger Meter in a research report on Wednesday, May 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $42.00.
Shares of Badger Meter (NYSE BMI) opened at 44.20 on Monday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 37.46 and a beta of 0.56. The firm has a 50-day moving average price of $42.99 and a 200 day moving average price of $39.05. Badger Meter has a 12 month low of $29.30 and a 12 month high of $46.85.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, August 29th. This is an increase from Badger Meter’s previous quarterly dividend of $0.12. Badger Meter’s payout ratio is presently 39.32%.
In related news, VP Beverly L. P. Smiley sold 22,100 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $40.30, for a total value of $890,630.00. Following the transaction, the vice president now owns 95,633 shares in the company, valued at $3,854,009.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Richard A. Meeusen sold 4,301 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $40.29, for a total transaction of $173,287.29. Following the sale, the chairman now directly owns 172,724 shares in the company, valued at approximately $6,959,049.96. The disclosure for this sale can be found here. Insiders sold a total of 90,776 shares of company stock worth $3,858,414 in the last 90 days. Company insiders own 4.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC acquired a new stake in shares of Badger Meter during the second quarter worth about $251,000. State Street Corp boosted its position in Badger Meter by 4.7% in the second quarter. State Street Corp now owns 715,440 shares of the scientific and technical instruments company’s stock valued at $28,513,000 after buying an additional 32,322 shares during the last quarter. Voya Investment Management LLC boosted its position in Badger Meter by 8.7% in the second quarter. Voya Investment Management LLC now owns 13,968 shares of the scientific and technical instruments company’s stock valued at $557,000 after buying an additional 1,121 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Badger Meter by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock valued at $44,926,000 after buying an additional 10,712 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in Badger Meter by 3.3% in the second quarter. Suntrust Banks Inc. now owns 32,257 shares of the scientific and technical instruments company’s stock valued at $1,285,000 after buying an additional 1,033 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.
About Badger Meter
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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