Harbor Capital Advisors Inc. Invests $1.14 Million in Badger Meter, Inc. (NYSE:BMI)

Harbor Capital Advisors Inc. acquired a new position in Badger Meter, Inc. (NYSE:BMI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,979 shares of the scientific and technical instruments company’s stock, valued at approximately $1,138,000.

Other hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in Badger Meter during the 4th quarter worth approximately $25,000. Bessemer Group Inc. lifted its holdings in Badger Meter by 162.5% during the 4th quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company’s stock worth $31,000 after buying an additional 91 shares in the last quarter. Principal Securities Inc. lifted its holdings in Badger Meter by 2,457.1% during the 4th quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 172 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Badger Meter during the 4th quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Badger Meter by 261.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the scientific and technical instruments company’s stock worth $128,000 after buying an additional 432 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Trading Down 0.9%

Shares of NYSE:BMI opened at $242.41 on Friday. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The company’s 50 day moving average is $226.29 and its two-hundred day moving average is $216.04. The company has a market cap of $7.14 billion, a PE ratio of 57.31, a P/E/G ratio of 3.89 and a beta of 0.85.

Badger Meter (NYSE:BMI) last posted its earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.22. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $220.39 million. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. During the same period last year, the firm posted $0.99 EPS. As a group, equities research analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Friday, May 23rd. Badger Meter’s dividend payout ratio (DPR) is 29.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Argus set a $240.00 target price on shares of Badger Meter in a report on Thursday, April 24th. Raymond James began coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They set a “market perform” rating on the stock. Robert W. Baird dropped their price objective on shares of Badger Meter from $218.00 to $216.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Royal Bank of Canada increased their price objective on shares of Badger Meter from $238.00 to $252.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. Finally, Stifel Nicolaus dropped their price objective on shares of Badger Meter from $209.00 to $196.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $229.80.

Badger Meter Company Profile

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.