Fintel reports that on July 21, 2023, Baird maintained coverage of Badger Meter (NYSE:BMI) with a Neutral recommendation.
Analyst Price Forecast Suggests 15.25% Downside
As of July 6, 2023, the average one-year price target for Badger Meter is 138.98. The forecasts range from a low of 126.25 to a high of $159.60. The average price target represents a decrease of 15.25% from its latest reported closing price of 163.99.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Badger Meter is 600MM, a decrease of 4.79%. The projected annual non-GAAP EPS is 2.58.
Badger Meter Declares $0.22 Dividend
On April 28, 2023 the company declared a regular quarterly dividend of $0.22 per share ($0.90 annualized). Shareholders of record as of May 26, 2023 received the payment on June 9, 2023. Previously, the company paid $0.22 per share.
At the current share price of $163.99 / share, the stock's dividend yield is 0.55%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.94%, the lowest has been 0.59%, and the highest has been 1.58%. The standard deviation of yields is 0.19 (n=235).
The current dividend yield is 2.14 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.32%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 650 funds or institutions reporting positions in Badger Meter. This is an increase of 16 owner(s) or 2.52% in the last quarter. Average portfolio weight of all funds dedicated to BMI is 0.23%, a decrease of 13.03%. Total shares owned by institutions increased in the last three months by 2.81% to 28,977K shares. 
The put/call ratio of BMI is 1.40, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,132K shares representing 7.27% ownership of the company. In it's prior filing, the firm reported owning 2,169K shares, representing a decrease of 1.72%. The firm increased its portfolio allocation in BMI by 6.73% over the last quarter.
Impax Asset Management Group holds 1,046K shares representing 3.57% ownership of the company. In it's prior filing, the firm reported owning 1,003K shares, representing an increase of 4.08%. The firm increased its portfolio allocation in BMI by 8.80% over the last quarter.
Invesco holds 920K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 739K shares, representing an increase of 19.67%. The firm decreased its portfolio allocation in BMI by 87.74% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 912K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 887K shares, representing an increase of 2.75%. The firm increased its portfolio allocation in BMI by 6.09% over the last quarter.
Jpmorgan Chase holds 778K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 777K shares, representing an increase of 0.15%. The firm decreased its portfolio allocation in BMI by 87.02% over the last quarter.
Badger Meter Background Information
(This description is provided by the company.)
With more than a century of water technology innovation, Badger Meter is a global provider of industry leading water solutions encompassing flow measurement, quality and other system parameters. These offerings provide the customers with the data and analytics essential to optimize their operations and contribute to the sustainable use and protection of the world's most precious resource.
Additional reading:
- Badger Meter Reports Record Second Quarter 2023 Financial Results
- ARTICLES OF AMENDMENT TO RESTATED ARTICLES OF INCORPORATION OF BADGER METER, INC.
- Badger Meter Reports Record First Quarter 2023 Financial Results
- Subsidiaries of the Registrant.
- Amendment to Credit Agreement dated January 20, 2023 among Badger Meter, Inc. and the lender and agent listed on the signature pages thereof
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
