Badger Meter (NYSE:BMI) Coverage Initiated by Analysts at Royal Bank of Canada

Investment analysts at Royal Bank of Canada started coverage on shares of Badger Meter (NYSE:BMI - Get Free Report) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $251.00 price target on the scientific and technical instruments company's stock. Royal Bank of Canada's price objective suggests a potential upside of 32.54% from the stock's current price.

A number of other research analysts have also issued reports on BMI. Maxim Group lifted their target price on Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Stifel Nicolaus lifted their price objective on Badger Meter from $208.00 to $209.00 and gave the company a "hold" rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $225.20.

Badger Meter Stock Performance

Shares of BMI traded down $0.83 during mid-day trading on Thursday, hitting $189.38. 72,251 shares of the company's stock were exchanged, compared to its average volume of 194,028. The stock's 50-day moving average is $208.55 and its 200-day moving average is $213.72. Badger Meter has a fifty-two week low of $151.18 and a fifty-two week high of $239.11. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 3.89 and a beta of 0.83.

Remove Ads

Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. As a group, equities research analysts anticipate that Badger Meter will post 4.65 EPS for the current year.

Insiders Place Their Bets

In other news, VP Karen M. Bauer sold 1,147 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total transaction of $240,571.78. Following the sale, the vice president now owns 5,076 shares of the company's stock, valued at approximately $1,064,640.24. This trade represents a 18.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth Bockhorst sold 16,073 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total value of $3,371,151.02. Following the sale, the chief executive officer now owns 34,961 shares of the company's stock, valued at approximately $7,332,720.14. The trade was a 31.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,949 shares of company stock valued at $4,398,407 in the last ninety days. Insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Evergreen Capital Management LLC lifted its position in Badger Meter by 1.8% in the fourth quarter. Evergreen Capital Management LLC now owns 2,780 shares of the scientific and technical instruments company's stock valued at $590,000 after acquiring an additional 48 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in Badger Meter by 0.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 6,204 shares of the scientific and technical instruments company's stock valued at $1,316,000 after purchasing an additional 50 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Badger Meter by 4.2% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,271 shares of the scientific and technical instruments company's stock valued at $270,000 after buying an additional 51 shares during the last quarter. HighTower Advisors LLC lifted its position in Badger Meter by 1.1% during the 3rd quarter. HighTower Advisors LLC now owns 5,312 shares of the scientific and technical instruments company's stock worth $1,165,000 after acquiring an additional 56 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Badger Meter by 0.9% during the fourth quarter. Arizona State Retirement System now owns 8,536 shares of the scientific and technical instruments company's stock worth $1,811,000 after purchasing an additional 72 shares during the period. 89.01% of the stock is owned by hedge funds and other 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.