Kornitzer Capital Management Inc. KS Acquires Shares of 9,500 Badger Meter, Inc. $BMI

Key Points

• Kornitzer Capital Management opened a new position in Badger Meter during the first quarter, buying 9,500 shares valued at about $1.45 million.
• The article highlights ongoing class action lawsuits against Badger Meter, with multiple law firms urging shareholders to act over alleged securities-law violations and investor harm.
• Badger Meter saw recent insider buying, including purchases by both the CFO/VP and CEO, while analysts currently rate the stock a Hold on average with a $155.86 price target.

Kornitzer Capital Management Inc. KS bought a new position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,500 shares of the scientific and technical instruments company's stock, valued at approximately $1,447,000.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in Badger Meter in the 4th quarter worth about $83,819,000. UBS Group AG raised its holdings in shares of Badger Meter by 89.2% during the fourth quarter. UBS Group AG now owns 712,650 shares of the scientific and technical instruments company's stock valued at $124,293,000 after acquiring an additional 335,953 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of Badger Meter in the third quarter valued at approximately $45,435,000. Pictet Asset Management Holding SA lifted its position in shares of Badger Meter by 39.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company's stock valued at $131,592,000 after acquiring an additional 212,448 shares in the last quarter. Finally, Amundi boosted its stake in shares of Badger Meter by 99.5% in the third quarter. Amundi now owns 401,668 shares of the scientific and technical instruments company's stock worth $72,203,000 after acquiring an additional 200,330 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter News Summary

Here are the key news stories impacting Badger Meter this week:

• Negative Sentiment: A class action has been filed alleging investor harm and securities law violations, with firms urging affected shareholders to seek recovery. Bronstein, Gewirtz & Grossman LLC Urges Badger Meter, Inc. Investors to Act: Class Action Filed Alleging Investor Harm
• Negative Sentiment: Multiple firms, including The Gross Law Firm, Rosen, Robbins, Glancy Prongay Wolke & Rotter, Faruqi & Faruqi, and Schall, are publicizing the same lawsuit and deadline, reinforcing legal uncertainty for BMI shareholders. BMI DEADLINE: The Gross Law Firm Reminds Badger Meter, Inc. Investors of Upcoming Securities Class Action Deadline
• Negative Sentiment: Earlier notices alleged misrepresentations around “secular growth drivers” and “robust demand,” which could raise concerns about prior revenue quality and future disclosure risk. Lost Money on Badger Meter, Inc. (BMI)? Join Class Action Suit Seeking Recovery - Contact SueWallSt

Insider Transactions at Badger Meter

In other Badger Meter news, VP Christina M. Tarantino bought 870 shares of Badger Meter stock in a transaction on Tuesday, April 21st. The shares were bought at an average price of $113.80 per share, for a total transaction of $99,006.00. Following the completion of the transaction, the vice president directly owned 1,801 shares of the company's stock, valued at $204,953.80. This trade represents a 93.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kenneth Bockhorst purchased 2,200 shares of the firm's stock in a transaction dated Tuesday, April 21st. The stock was acquired at an average cost of $117.53 per share, for a total transaction of $258,566.00. Following the purchase, the chief executive officer owned 51,676 shares in the company, valued at approximately $6,073,480.28. The trade was a 4.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 6,628 shares of company stock valued at $777,128 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Badger Meter Trading Down 0.1%

Shares of BMI opened at $144.10 on Monday. Badger Meter, Inc. has a 12-month low of $112.09 and a 12-month high of $249.56. The firm has a market capitalization of $4.21 billion, a P/E ratio of 32.53, a P/E/G ratio of 2.58 and a beta of 0.64. The firm has a 50-day moving average price of $130.24 and a 200 day moving average price of $146.49.

Badger Meter (NYSE:BMI - Get Free Report) last issued its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. The company had revenue of $220.71 million for the quarter. Equities research analysts predict that Badger Meter, Inc. will post 4.51 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 22nd. Badger Meter's payout ratio is presently 36.12%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus set a $140.00 price objective on Badger Meter in a research note on Friday, May 22nd. Robert W. Baird dropped their target price on shares of Badger Meter from $173.00 to $145.00 and set an "outperform" rating for the company in a report on Monday, April 20th. Maxim Group downgraded shares of Badger Meter from a "buy" rating to a "hold" rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Badger Meter from $190.00 to $160.00 and set an "overweight" rating for the company in a research note on Friday, April 17th. Finally, Zacks Research upgraded shares of Badger Meter from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $155.86.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company's core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company's product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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