Badger Meter (NYSE:BMI) Price Target Raised to $245.00 at Maxim Group

Badger Meter (NYSE:BMI) had its price objective lifted by Maxim Group from $235.00 to $245.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

Several other research firms have also issued reports on BMI. Stifel Nicolaus increased their price objective on Badger Meter from $208.00 to $209.00 and gave the stock a “hold” rating in a research note on Monday. Robert W. Baird upped their price objective on Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $218.75.

Badger Meter Trading Up 0.9 %

Shares of Badger Meter stock opened at $215.81 on Monday. Badger Meter has a 52 week low of $139.50 and a 52 week high of $239.11. The stock has a market cap of $6.35 billion, a PE ratio of 51.02, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The company’s 50-day moving average price is $217.38 and its two-hundred day moving average price is $211.28.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. On average, equities analysts predict that Badger Meter will post 4.76 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.34 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.36 annualized dividend and a yield of 0.63%. Badger Meter’s dividend payout ratio (DPR) is presently 32.15%.

Hedge Funds Weigh In On Badger Meter

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its holdings in Badger Meter by 4.5% in the 3rd quarter. Private Advisor Group LLC now owns 1,635 shares of the scientific and technical instruments company’s stock valued at $357,000 after buying an additional 71 shares during the last quarter. Burney Co. purchased a new position in shares of Badger Meter during the fourth quarter valued at approximately $385,000. Geneva Partners LLC purchased a new stake in shares of Badger Meter in the third quarter valued at about $1,120,000. Stifel Financial Corp grew its holdings in shares of Badger Meter by 29.0% in the third quarter. Stifel Financial Corp now owns 11,971 shares of the scientific and technical instruments company’s stock valued at $2,615,000 after acquiring an additional 2,692 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Badger Meter by 14.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 25,869 shares of the scientific and technical instruments company’s stock worth $5,650,000 after purchasing an additional 3,233 shares during the period. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Company Profile

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.