Badger Meter (NYSE:BMI) Stock Price Down 4.2% – Here’s What Happened

Badger Meter, Inc. (NYSE:BMI)’s share price was down 4.2% on Friday . The stock traded as low as $212.61 and last traded at $209.79. Approximately 40,216 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 164,742 shares. The stock had previously closed at $219.02.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Badger Meter from $203.00 to $208.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Robert W. Baird increased their price target on Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Maxim Group lifted their price objective on Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday, October 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $216.00.

Badger Meter Stock Down 4.0 %

The firm has a market capitalization of $6.18 billion, a P/E ratio of 52.16, a PEG ratio of 2.42 and a beta of 0.79. The business’s 50 day moving average is $218.08 and its 200-day moving average is $210.67.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders 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 dividend yield of 0.65%. Badger Meter’s payout ratio is 33.75%.

Institutional Trading of Badger Meter

Several institutional investors and hedge funds have recently modified their holdings of BMI. R Squared Ltd acquired a new position in Badger Meter during the fourth quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in shares of Badger Meter during the 4th quarter valued at approximately $39,000. ORG Partners LLC acquired a new position in Badger Meter during the 4th quarter worth approximately $42,000. Blue Trust Inc. lifted its stake in Badger Meter by 1,016.7% in the 3rd quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock valued at $44,000 after purchasing an additional 183 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Badger Meter by 61.3% in the third quarter. GAMMA Investing LLC now owns 805 shares of the scientific and technical instruments company’s stock valued at $176,000 after buying an additional 306 shares in the last quarter. 89.01% of the stock is currently 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.