Badger Meter (NYSE:BMI) Hits New 1-Year High on Analyst Upgrade

Posted by Defense World Staff on Jul 24th, 2024

Badger Meter, Inc. (NYSE:BMI – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday after Argus raised their price target on the stock from $204.00 to $218.00. Argus currently has a buy rating on the stock. Badger Meter traded as high as $202.81 and last traded at $201.50, with a volume of 15917 shares. The stock had previously closed at $201.52.

Several other research analysts also recently commented on the company. Stifel Nicolaus lifted their target price on Badger Meter from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Maxim Group increased their target price on shares of Badger Meter from $190.00 to $207.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Northcoast Research raised shares of Badger Meter from a “sell” rating to a “neutral” rating in a research report on Thursday, April 18th. Robert W. Baird boosted their price target on shares of Badger Meter from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, StockNews.com upgraded shares of Badger Meter from a “hold” rating to a “buy” rating in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $184.20.

View Our Latest Stock Analysis on Badger Meter

Hedge Funds Weigh In On Badger Meter

Several institutional investors have recently added to or reduced their stakes in BMI. Vanguard Group Inc. grew its position in shares of Badger Meter by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,674,493 shares of the scientific and technical instruments company’s stock worth $594,570,000 after buying an additional 22,707 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Badger Meter by 33.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 397,614 shares of the scientific and technical instruments company’s stock valued at $61,380,000 after purchasing an additional 100,304 shares during the period. KBC Group NV raised its holdings in shares of Badger Meter by 29.8% during the fourth quarter. KBC Group NV now owns 324,720 shares of the scientific and technical instruments company’s stock valued at $50,127,000 after purchasing an additional 74,578 shares during the period. Norges Bank bought a new position in shares of Badger Meter during the 4th quarter worth about $47,359,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Badger Meter by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 288,004 shares of the scientific and technical instruments company’s stock valued at $44,459,000 after buying an additional 4,766 shares during the period. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Trading Up 1.4 %

The business has a 50-day moving average of $191.30 and a 200 day moving average of $171.40. The firm has a market capitalization of $6.01 billion, a P/E ratio of 58.08, a price-to-earnings-growth ratio of 2.89 and a beta of 0.78.

Badger Meter (NYSE:BMI – Get Free Report) last announced its quarterly earnings data on Friday, July 19th. The scientific and technical instruments company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. Badger Meter had a return on equity of 21.42% and a net margin of 14.44%. The firm had revenue of $216.70 million during the quarter, compared to analysts’ expectations of $203.39 million. During the same quarter last year, the firm posted $0.76 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts forecast that Badger Meter, Inc. will post 3.94 EPS for the current year.

Badger Meter Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Thursday, May 23rd. Badger Meter’s dividend payout ratio (DPR) is 31.12%.

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.