Badger Meter (NYSE:BMI) Reaches New 52-Week High – Time to Buy?

Badger Meter, Inc. (NYSE:BMI)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $220.77 and last traded at $219.89, with a volume of 73489 shares. The stock had previously closed at $217.96.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Argus raised their price target on Badger Meter from $204.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Stifel Nicolaus upped their price target on shares of Badger Meter from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Robert W. Baird raised their price objective on shares of Badger Meter from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, StockNews.com downgraded Badger Meter from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $200.25.

Badger Meter Trading Up 2.2 %

The firm has a 50-day moving average of $204.13 and a two-hundred day moving average of $190.02. The firm has a market capitalization of $6.57 billion, a P/E ratio of 63.78, a P/E/G ratio of 2.99 and a beta of 0.77.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Friday, July 19th. The scientific and technical instruments company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.03 by $0.09. The business had revenue of $216.70 million during the quarter, compared to the consensus estimate of $203.39 million. Badger Meter had a net margin of 14.44% and a return on equity of 21.42%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, sell-side analysts anticipate that Badger Meter, Inc. will post 4.09 EPS for the current fiscal year.

Badger Meter Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.61%. This is an increase from Badger Meter’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, August 23rd. Badger Meter’s dividend payout ratio is presently 39.19%.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, VP Kimberly K. Stoll sold 1,097 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $205.00, for a total transaction of $224,885.00. Following the completion of the sale, the vice president now owns 3,861 shares of the company’s stock, valued at approximately $791,505. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Badger Meter

Several hedge funds and other institutional investors have recently bought and sold shares of BMI. Bessemer Group Inc. raised its position in shares of Badger Meter by 2,633.3% during the first quarter. Bessemer Group Inc. now owns 492 shares of the scientific and technical instruments company’s stock worth $80,000 after purchasing an additional 474 shares during the period. GAMMA Investing LLC lifted its stake in shares of Badger Meter by 46.3% in the second quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock valued at $93,000 after buying an additional 158 shares in the last quarter. CWM LLC lifted its stake in shares of Badger Meter by 40.9% in the second quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 167 shares in the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Badger Meter during the first quarter valued at about $205,000. Finally, Magnetar Financial LLC bought a new stake in shares of Badger Meter during the second quarter worth about $207,000. 89.01% of the stock is owned by institutional investors.

About Badger Meter

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.