Robert W. Baird Raises Badger Meter (BMI) Price Target to $48.00

Badger Meter (NYSE:BMI) had its target price increased by investment analysts at Robert W. Baird from $45.00 to $48.00 in a report released on Wednesday. The firm presently has a “neutral” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s price target would indicate a potential upside of 0.42% from the company’s current price.

BMI has been the subject of several other research reports. Stifel Nicolaus reissued a “hold” rating and set a $51.00 target price (up previously from $45.00) on shares of Badger Meter in a report on Tuesday, January 16th. Zacks Investment Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $51.60.

Shares of Badger Meter (BMI) traded down $0.10 during trading on Wednesday, hitting $47.80. 34,115 shares of the company traded hands, compared to its average volume of 115,361. Badger Meter has a 12-month low of $34.40 and a 12-month high of $52.10. The stock has a market capitalization of $1,344.99, a PE ratio of 40.51 and a beta of 0.64.

Badger Meter (NYSE:BMI) last issued its earnings results on Tuesday, February 6th. The scientific and technical instruments company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Badger Meter had a net margin of 8.59% and a return on equity of 12.89%. The firm had revenue of $96.65 million during the quarter, compared to analysts’ expectations of $98.08 million. During the same quarter last year, the company posted $0.21 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. analysts expect that Badger Meter will post 1.37 EPS for the current year.

In other Badger Meter news, CFO Richard E. Johnson sold 7,200 shares of Badger Meter stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $45.55, for a total transaction of $327,960.00. Following the transaction, the chief financial officer now directly owns 105,976 shares of the company’s stock, valued at $4,827,206.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Fred J. Begale sold 2,000 shares of Badger Meter stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $45.60, for a total transaction of $91,200.00. Following the transaction, the vice president now directly owns 7,609 shares in the company, valued at $346,970.40. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Badger Meter by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,828,174 shares of the scientific and technical instruments company’s stock worth $112,703,000 after buying an additional 33,137 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 worth $44,926,000 after acquiring an additional 10,712 shares during the last quarter. State Street Corp boosted its position in shares of 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 worth $28,513,000 after acquiring an additional 32,322 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Badger Meter by 4.7% in the third quarter. Eagle Asset Management Inc. now owns 442,475 shares of the scientific and technical instruments company’s stock worth $22,322,000 after acquiring an additional 19,709 shares during the last quarter. Finally, Rockefeller Financial Services Inc. boosted its position in shares of Badger Meter by 0.6% in the fourth quarter. Rockefeller Financial Services Inc. now owns 368,413 shares of the scientific and technical instruments company’s stock worth $17,610,000 after acquiring an additional 2,338 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Badger Meter (NYSE:BMI)

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