Badger Meter Inc. (BMI) Upgraded to Buy at Zacks Investment Research
Badger Meter Inc. (NYSE:BMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $37.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 10.58% from the company’s current price.
According to Zacks, “Badger Meter is making progress on the expansion of its sales channels, which will benefit Flow instrumentation sales in the coming quarters. This will help in balancing stronger municipal sales with weaker flow instrumentation sales. Badger Meter expects robust results over the balance of 2016. The company will also benefit from continuous investment in new products and product enhancements and momentum in residential and commercial municipal water products. Further, the recent increase in dividend and stock split will also drive growth.”
Badger Meter (NYSE:BMI) traded up 0.21% during mid-day trading on Wednesday, hitting $33.46. 157,123 shares of the stock traded hands. Badger Meter has a 12-month low of $26.40 and a 12-month high of $39.36. The company has a 50 day moving average of $33.79 and a 200-day moving average of $35.00. The stock has a market cap of $973.59 million, a PE ratio of 30.98 and a beta of 0.80.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/badger-meter-inc-bmi-upgraded-to-buy-at-zacks-investment-research.html
Badger Meter (NYSE:BMI) last issued its earnings results on Thursday, July 21st. The company reported $0.65 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.65. The firm had revenue of $102.80 million for the quarter, compared to analysts’ expectations of $104.54 million. Badger Meter had a net margin of 7.81% and a return on equity of 13.19%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. Equities research analysts forecast that Badger Meter will post $1.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.23 dividend. This is a boost from Badger Meter’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.92 annualized dividend and a yield of 2.75%. Badger Meter’s dividend payout ratio (DPR) is 42.59%.
In related news, insider Ronald H. Dix sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $66.12, for a total value of $105,792.00. Following the sale, the insider now owns 25,700 shares of the company’s stock, valued at $1,699,284. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ronald H. Dix sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.72, for a total transaction of $137,440.00. Following the completion of the sale, the insider now directly owns 28,300 shares in the company, valued at approximately $1,944,776. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in shares of Badger Meter by 2.4% in the first quarter. Royal Bank of Canada now owns 32,908 shares of the company’s stock valued at $2,189,000 after buying an additional 764 shares during the period. Arizona State Retirement System boosted its stake in Badger Meter by 4.2% in the first quarter. Arizona State Retirement System now owns 7,397 shares of the company’s stock worth $492,000 after buying an additional 300 shares during the last quarter. Chilton Capital Management LLC bought a new stake in Badger Meter during the first quarter worth $379,000. Magnetar Financial LLC bought a new stake in Badger Meter during the first quarter worth $266,000. Finally, Legal & General Group Plc boosted its stake in Badger Meter by 23.6% in the first quarter. Legal & General Group Plc now owns 3,538 shares of the company’s stock worth $235,000 after buying an additional 676 shares during the last quarter. 79.64% of the stock is currently owned by hedge funds and other institutional investors.
Badger Meter Company Profile
Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
Get a free copy of the Zacks research report on Badger Meter (BMI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Badger Meter Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Badger Meter Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.