BMINYSETotalizing Fluid Meters & Counting DevicesFiscal year ends December 31
BADGER METER INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026
$126.26−0.22 (-0.17%)
Close on Oct 19, 2026
- Market cap
- $3.68B
- P/E (TTM)
- 26.4
- Dividend yield
- 1.17%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
33M of 29M shares
Institutional holders
479
82 new, 72 sold out
Net institutional buying
2M
In Q2 2026
Insider trades, 12 months
9 buys · 4 sales
Net bought $1.54M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 4,781,376 | 16.30% | 13G (passive) amendment | Mar 31, 2025 |
| Vanguard Portfolio Management | 2,477,453 | 8.48% | 13G (passive) | Mar 31, 2026 |
| Vanguard Capital Management | 1,526,620 | 5.23% | 13G (passive) | Mar 31, 2026 |
| State Street Corporation | 1,524,970 | 5.20% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of BMI | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 4,892,342 | 16.88% | $725.93M | −59,540 | 0.01% |
| Vanguard Portfolio Management LLC | 2,504,823 | 8.64% | $371.67M | +53,172 | 0.02% |
| State Street Corp | 1,651,414 | 5.70% | $245.04M | +126,444 | 0.01% |
| Vanguard Capital Management LLC | 1,317,325 | 4.54% | $195.46M | +15,705 | 0.00% |
| Geode Capital Management, LLC | 1,008,392 | 3.48% | $149.65M | +69,561 | 0.01% |
| Impax Asset Management Group plc | 945,694 | 3.26% | $140.32M | New | 0.91% |
| First Trust Advisors LP | 771,864 | 2.66% | $114.53M | +211,508 | 0.07% |
| Morgan Stanley | 739,882 | 2.55% | $109.78M | +76,690 | 0.01% |
| Boston Trust Walden Corp | 728,961 | 2.51% | $108.16M | +198,792 | 0.82% |
| UBS Group AG | 629,411 | 2.17% | $93.39M | −228,763 | 0.01% |
| Amundi | 590,079 | 2.04% | $87.60M | +131,016 | 0.02% |
| Pictet Asset Management Holding SA | 574,477 | 1.98% | $85.22M | +180,133 | 0.08% |
| Dimensional Fund Advisors LP | 517,496 | 1.79% | $76.77M | −22,776 | 0.01% |
| Invesco Ltd. | 505,343 | 1.74% | $74.98M | −272,564 | 0.01% |
| Neuberger Berman Group LLC | 499,519 | 1.72% | $74.12M | +152,799 | 0.05% |
| Bank Of America Corp /De/ | 460,602 | 1.59% | $68.34M | +167,750 | 0.00% |
| JPMorgan Chase & Co | 434,707 | 1.50% | $60.46M | −41,017 | 0.00% |
| Northern Trust Corp | 380,008 | 1.31% | $56.39M | +47,513 | 0.01% |
| Norges Bank | 374,295 | 1.29% | $55.54M | New | 0.01% |
| Charles Schwab Investment Management Inc | 335,404 | 1.16% | $49.77M | +15,840 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 479 | 33M | 100.0% | 82 / 169 | 158 / 72 | 6M | 4M |
| Q1 2026 | 474 | 30M | 100.0% | 69 / 185 | 153 / 77 | 7M | 3M |
| Q4 2025 | 490 | 30M | 100.0% | 63 / 187 | 174 / 53 | 3M | 3M |
| Q3 2025 | 486 | 29M | 100.0% | 55 / 168 | 199 / 114 | 4M | 5M |
| Q2 2025 | 555 | 30M | 100.0% | 89 / 176 | 203 / 50 | 2M | 2M |
| Q1 2025 | 521 | 29M | 100.0% | 75 / 184 | 170 / 60 | 3M | 2M |
| Q4 2024 | 515 | 29M | 98.8% | 76 / 173 | 170 / 49 | 3M | 2M |
| Q3 2024 | 497 | 28M | 96.4% | 67 / 166 | 174 / 42 | 7M | 2M |
| Q2 2024 | 477 | 28M | 97.9% | 73 / 151 | 178 / 32 | 2M | 3M |
| Q1 2024 | 442 | 29M | 100.0% | 58 / 154 | 149 / 33 | 2M | 2M |
| Q4 2023 | 420 | 29M | 99.4% | 62 / 139 | 143 / 34 | 3M | 1M |
| Q3 2023 | 398 | 27M | 94.6% | 55 / 130 | 133 / 37 | 2M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of BMI | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 1,758,399 | 6.07% | $260.91M | 0.23% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 928,527 | 3.20% | $137.77M | 0.01% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 772,689 | 2.67% | $114.65M | 0.14% | Jun 30, 2026 |
| Vanguard Information Technology Index Fund | 739,763 | 2.55% | $91.66M | 0.05% | May 31, 2026 |
| Vanguard Small-Cap Index Fund | 669,606 | 2.31% | $99.36M | 0.05% | Jun 30, 2026 |
| First Trust SMID Cap Rising Dividend Achievers ETF | 476,208 | 1.64% | $70.66M | 0.62% | Jun 30, 2026 |
| Vanguard Small-Cap Growth Index Fund | 385,607 | 1.33% | $57.22M | 0.12% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Dividend ETF | 381,940 | 1.32% | $56.67M | 0.26% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 334,945 | 1.16% | $49.70M | 0.05% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 325,603 | 1.12% | $43.74M | 0.13% | Jul 31, 2026 |
| iShares Russell 2000 Growth ETF | 275,056 | 0.95% | $40.81M | 0.26% | Jun 30, 2026 |
| Invesco Water Resources ETF | 271,055 | 0.94% | $36.42M | 1.82% | Jul 31, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 266,917 | 0.92% | $39.61M | 0.23% | Jun 30, 2026 |
| iShares S&P Small-Cap 600 Growth ETF | 262,275 | 0.90% | $38.92M | 0.47% | Jun 30, 2026 |
| First Trust Water ETF | 252,317 | 0.87% | $37.44M | 2.02% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Kenneth Bockhorst | Chairman, President & CEO, Director | 51,932 | 0.18% | Apr 21, 2026 |
| Edward F. Callahan | VP-Engineering | 1,937 | 0.01% | Jul 31, 2026 |
| William R. A. Bergum | VP-Gen. Counsel and Secretary | 28,601 | 0.10% | Apr 23, 2026 |
| Robert Wrocklage | EVP-N.A. Muncipal Utility | 23,493 | 0.08% | Apr 23, 2026 |
| Christina M. Tarantino | VP-Controller | 1,801 | 0.01% | Apr 22, 2026 |
| Richard Htwe | VP-Global Operations | 7,603 | 0.03% | Apr 22, 2026 |
| Daniel R. Weltzien | VP-CFO & Treasurer | 5,564 | 0.02% | Mar 10, 2026 |
| Kimberly K. Stoll | VP-Cust Serv & GM SmartCover | 10,024 | 0.03% | Mar 10, 2026 |
| Matthew L. Stuyvenberg | EVP-SaaS Intl Utility & Comm'l | 7,719 | 0.03% | Mar 10, 2026 |
| Sheryl Hopkins | VP - Human Resources | 5,978 | 0.02% | Mar 10, 2026 |
| Fred J. Begale | VP-Utility NPD | 10,509 | 0.04% | Mar 10, 2026 |
| Karen M. Bauer | VP-IR, Strategy & Treasurer | 5,228 | 0.02% | Mar 7, 2025 |
| Xia Liu | Director | 0 | – | Jul 2, 2026 |
| Todd A. Adams | Director | 0 | – | Jul 2, 2026 |
| Henry F. Brooks | Director | 3,237 | 0.01% | Apr 29, 2026 |
| Glen E. Tellock | Director | 8,551 | 0.03% | Apr 29, 2026 |
| Melanie K. Cook | Director | 3,237 | 0.01% | Apr 29, 2026 |
| Tessa M. Myers | Director | 5,913 | 0.02% | Apr 29, 2026 |
| James F. Stern | Director | 8,551 | 0.03% | Apr 29, 2026 |
| James W. McGill | Director | 4,893 | 0.02% | Apr 29, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Edward F. Callahan VP-Engineering | Jul 30, 2026 | Buy | +751 | $135.25 | $101.57K | 1,937 |
| Henry F. Brooks Director | Apr 27, 2026 | Award | +952 | $122.96 | $117.06K | 3,237 |
| James F. Stern Director | Apr 27, 2026 | Award | +952 | $122.96 | $117.06K | 8,551 |
| Tessa M. Myers Director | Apr 27, 2026 | Award | +952 | $122.96 | $117.06K | 5,913 |
| Glen E. Tellock Director | Apr 27, 2026 | Award | +952 | $122.96 | $117.06K | 8,551 |
| James W. McGill Director | Apr 27, 2026 | Award | +952 | $122.96 | $117.06K | 4,893 |
| Melanie K. Cook Director | Apr 27, 2026 | Award | +952 | $122.96 | $117.06K | 3,237 |
| Robert Wrocklage EVP-N.A. Muncipal Utility | Apr 23, 2026 | Buy | +1,000 | $122.35 | $122.35K | 23,321 |
| William R. A. Bergum VP-Gen. Counsel and Secretary | Apr 21, 2026 | Discretionary | +1,413.76 | $123.78 | $175.00K | 13,365 |
| Edward F. Callahan VP-Engineering | Apr 21, 2026 | Buy | +858 | $116.30 | $99.79K | 1,186 |
| Richard Htwe VP-Global Operations | Apr 21, 2026 | Buy | +1,700 | $116.13 | $197.42K | 7,603 |
| Christina M. Tarantino VP-Controller | Apr 21, 2026 | Buy | +870 | $113.80 | $99.01K | 1,801 |
| Kenneth Bockhorst Chairman, President & CEO, Director | Apr 21, 2026 | Buy | +2,200 | $117.53 | $258.57K | 51,676 |
| William R. A. Bergum VP-Gen. Counsel and Secretary | Mar 6, 2026 | Award | +369 | – | – | 15,236 |
| William R. A. Bergum VP-Gen. Counsel and Secretary | Mar 6, 2026 | Tax withholding | −46 | $148.85 | $6.85K | 15,190 |
| Matthew L. Stuyvenberg EVP-SaaS Intl Utility & Comm'l | Mar 6, 2026 | Award | +451 | – | – | 6,428 |
| Daniel R. Weltzien VP-CFO & Treasurer | Mar 6, 2026 | Tax withholding | −41 | $148.85 | $6.10K | 5,452 |
| Daniel R. Weltzien VP-CFO & Treasurer | Mar 6, 2026 | Award | +738 | – | – | 6,190 |
| Edward F. Callahan VP-Engineering | Mar 6, 2026 | Award | +328 | – | – | 328 |
| Fred J. Begale VP-Utility NPD | Mar 6, 2026 | Tax withholding | −36 | $148.85 | $5.36K | 3,004 |
| Robert Wrocklage EVP-N.A. Muncipal Utility | Mar 6, 2026 | Tax withholding | −210 | $148.85 | $31.26K | 21,009 |
| Robert Wrocklage EVP-N.A. Muncipal Utility | Mar 6, 2026 | Award | +1,312 | – | – | 22,321 |
| Christina M. Tarantino VP-Controller | Mar 6, 2026 | Award | +246 | – | – | 931 |
| Richard Htwe VP-Global Operations | Mar 6, 2026 | Tax withholding | −41 | $148.85 | $6.10K | 5,534 |
| Richard Htwe VP-Global Operations | Mar 6, 2026 | Award | +369 | – | – | 5,903 |
| Sheryl Hopkins VP - Human Resources | Mar 6, 2026 | Tax withholding | −46 | $148.85 | $6.85K | 5,301 |
| Sheryl Hopkins VP - Human Resources | Mar 6, 2026 | Award | +369 | – | – | 5,670 |
| Kimberly K. Stoll VP-Cust Serv & GM SmartCover | Mar 6, 2026 | Sale | −143 | $144.50 | $20.66K | 3,523 |
| Kimberly K. Stoll VP-Cust Serv & GM SmartCover | Mar 6, 2026 | Award | +410 | – | – | 3,666 |
| Kenneth Bockhorst Chairman, President & CEO, Director | Mar 6, 2026 | Tax withholding | −450 | $148.85 | $66.98K | 49,476 |
| Fred J. Begale VP-Utility NPD | Mar 4, 2026 | Option exercise | +2,064 | $33.98 | $70.13K | 5,104 |
| Fred J. Begale VP-Utility NPD | Mar 4, 2026 | Sale | −2,064 | $150.00 | $309.60K | 3,040 |
| Kimberly K. Stoll VP-Cust Serv & GM SmartCover | Mar 3, 2026 | Sale | −1,634 | $149.01 | $243.48K | 3,256 |
| William R. A. Bergum VP-Gen. Counsel and Secretary | Mar 3, 2026 | Option exercise | +2,064 | $33.98 | $70.13K | 15,849 |
| William R. A. Bergum VP-Gen. Counsel and Secretary | Mar 3, 2026 | Tax withholding | −982 | $148.76 | $146.08K | 14,867 |
| William R. A. Bergum VP-Gen. Counsel and Secretary | Mar 3, 2026 | Tax withholding | −420 | $148.76 | $62.48K | 13,785 |
| Robert Wrocklage EVP-N.A. Muncipal Utility | Mar 3, 2026 | Tax withholding | −1,728 | $148.76 | $257.06K | 21,219 |
| Richard Htwe VP-Global Operations | Mar 3, 2026 | Tax withholding | −449 | $148.76 | $66.79K | 5,575 |
| Fred J. Begale VP-Utility NPD | Mar 3, 2026 | Tax withholding | −449 | $148.76 | $66.79K | 3,040 |
| Sheryl Hopkins VP - Human Resources | Mar 3, 2026 | Tax withholding | −449 | $148.76 | $66.79K | 5,347 |
| Kenneth Bockhorst Chairman, President & CEO, Director | Mar 3, 2026 | Tax withholding | −10,685 | $148.76 | $1.59M | 49,926 |
| Daniel R. Weltzien VP-CFO & Treasurer | Mar 3, 2026 | Tax withholding | −449 | $148.76 | $66.79K | 5,493 |
| William R. A. Bergum VP-Gen. Counsel and Secretary | Feb 27, 2026 | Tax withholding | −47 | $152.43 | $7.16K | 14,205 |
| Robert Wrocklage EVP-N.A. Muncipal Utility | Feb 27, 2026 | Tax withholding | −172 | $152.43 | $26.22K | 22,947 |
| Richard Htwe VP-Global Operations | Feb 27, 2026 | Tax withholding | −54 | $152.43 | $8.23K | 6,024 |
| Fred J. Begale VP-Utility NPD | Feb 27, 2026 | Tax withholding | −41 | $152.43 | $6.25K | 3,489 |
| Sheryl Hopkins VP - Human Resources | Feb 27, 2026 | Tax withholding | −54 | $152.43 | $8.23K | 5,796 |
| Kenneth Bockhorst Chairman, President & CEO, Director | Feb 27, 2026 | Tax withholding | −548 | $152.43 | $83.53K | 60,611 |
| Daniel R. Weltzien VP-CFO & Treasurer | Feb 27, 2026 | Tax withholding | −47 | $152.43 | $7.16K | 5,942 |
| Kimberly K. Stoll VP-Cust Serv & GM SmartCover | Feb 27, 2026 | Sale | −148 | $150.38 | $22.26K | 4,890 |
| William R. A. Bergum VP-Gen. Counsel and Secretary | Feb 12, 2026 | Award | +1,113 | – | – | 14,252 |
| William R. A. Bergum VP-Gen. Counsel and Secretary | Feb 12, 2026 | Award | +228.62 | $174.41 | $39.87K | 11,951 |
| Kimberly K. Stoll VP-Cust Serv & GM SmartCover | Feb 12, 2026 | Award | +159.27 | $174.41 | $27.78K | 6,501 |
| Kimberly K. Stoll VP-Cust Serv & GM SmartCover | Feb 12, 2026 | Award | +1,391 | – | – | 5,038 |
| Kenneth Bockhorst Chairman, President & CEO, Director | Feb 12, 2026 | Award | +4.97 | $174.41 | $867 | 256 |
| Kenneth Bockhorst Chairman, President & CEO, Director | Feb 12, 2026 | Award | +21,146 | – | – | 61,159 |
| Matthew L. Stuyvenberg EVP-SaaS Intl Utility & Comm'l | Feb 12, 2026 | Award | +1,589 | – | – | 5,977 |
| Matthew L. Stuyvenberg EVP-SaaS Intl Utility & Comm'l | Feb 12, 2026 | Award | +49.45 | $174.41 | $8.62K | 1,291 |
| Robert Wrocklage EVP-N.A. Muncipal Utility | Feb 12, 2026 | Award | +2.79 | $174.41 | $487 | 172 |
| Robert Wrocklage EVP-N.A. Muncipal Utility | Feb 12, 2026 | Award | +3,578 | – | – | 23,119 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Fred J. Begale Officer | Mar 4, 2026 | 2,064 | $310.00K | Mar 4, 2026 | Options granted 3/4/2016 |
| Kimberly K. Stoll Officer | Feb 26, 2026 | 1,926 | $310.00K | Feb 27, 2026 | RS Vesting |
| Karen Bauer Officer | Mar 7, 2025 | 1,482 | $311.22K | Feb 28, 2025 | RS Vesting |
| Robert A. Wrocklage Officer | Mar 7, 2025 | 2,091 | $439.11K | Feb 28, 2025 | RS Vesting |
| Kimberly K. Stoll Officer | Mar 7, 2025 | 1,767 | $371.07K | Feb 28, 2025 | RS Vesting |
| Kenneth C. Bockhorst Officer, Director | Mar 7, 2025 | 18,824 | $3.95M | Feb 28, 2025 | RS Vesting |
| William R. A. Bergum Officer | Mar 7, 2025 | 3,906 | $820.26K | Mar 5, 2025 | RS Vesting |
| Fred J. Begale Officer | Mar 7, 2025 | 1,173 | $246.33K | Feb 28, 2025 | RS Vesting |
| Kenneth C. Bockhorst Officer, Director | Feb 28, 2025 | 14,063 | $2.95M | Feb 28, 2025 | RS Vesting |
| Karen Bauer Officer | Feb 28, 2025 | 1,178 | $247.38K | Feb 28, 2025 | RS Vesting |
| Daniel R. Weltzien Officer | Feb 28, 2025 | 600 | $126.00K | Feb 28, 2025 | RS Vesting |
| William R. A. Bergum Officer | Feb 28, 2025 | 3,602 | $756.42K | Feb 28, 2025 | RS Vesting |
| Fred J. Begale Officer | Feb 28, 2025 | 589 | $123.69K | Feb 28, 2025 | RS Vesting |
| Robert A. Wrocklage Officer | Feb 28, 2025 | 1,812 | $380.52K | Feb 28, 2025 | RS Vesting |
| Matthew L. Stuyvenberg Officer | Feb 28, 2025 | 224 | $47.04K | Feb 28, 2025 | RS Vesting |