Badger Meter Inc (BMI) shareholders
BMINYSETotalizing Fluid Meters & Counting DevicesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 23, 2026Score 25/3020% below fair value
$154.72+1.13 (+0.74%)
Close on Nov 13, 2026Market cap $4.42BP/E 32.3Yield 0.96%
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 | 17.13% | $725.93M | −59,540 | 0.01% |
| Vanguard Portfolio Management LLC | 2,504,823 | 8.77% | $371.67M | +53,172 | 0.02% |
| State Street Corp | 1,651,414 | 5.78% | $245.04M | +126,444 | 0.01% |
| Vanguard Capital Management LLC | 1,317,325 | 4.61% | $195.46M | +15,705 | 0.00% |
| Geode Capital Management, LLC | 1,008,392 | 3.53% | $149.65M | +69,561 | 0.01% |
| Impax Asset Management Group plc | 945,694 | 3.31% | $140.32M | New | 0.91% |
| First Trust Advisors LP | 771,864 | 2.70% | $114.53M | +211,508 | 0.07% |
| Morgan Stanley | 739,882 | 2.59% | $109.78M | +76,690 | 0.01% |
| Boston Trust Walden Corp | 728,961 | 2.55% | $108.16M | +198,792 | 0.82% |
| UBS Group AG | 629,411 | 2.20% | $93.39M | −228,763 | 0.01% |
| Amundi | 590,079 | 2.07% | $87.60M | +131,016 | 0.02% |
| Pictet Asset Management Holding SA | 574,477 | 2.01% | $85.22M | +180,133 | 0.08% |
| Dimensional Fund Advisors LP | 517,496 | 1.81% | $76.77M | −22,776 | 0.01% |
| Invesco Ltd. | 505,343 | 1.77% | $74.98M | −272,564 | 0.01% |
| Neuberger Berman Group LLC | 499,519 | 1.75% | $74.12M | +152,799 | 0.05% |
| Bank Of America Corp /De/ | 460,602 | 1.61% | $68.34M | +167,750 | 0.00% |
| JPMorgan Chase & Co | 434,707 | 1.52% | $60.46M | −41,017 | 0.00% |
| Northern Trust Corp | 380,008 | 1.33% | $56.39M | +47,513 | 0.01% |
| Norges Bank | 374,295 | 1.31% | $55.54M | New | 0.01% |
| Charles Schwab Investment Management Inc | 335,404 | 1.17% | $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 | 100.0% | 76 / 173 | 170 / 49 | 3M | 2M |
| Q3 2024 | 497 | 28M | 97.8% | 67 / 166 | 174 / 42 | 7M | 2M |
| Q2 2024 | 477 | 28M | 99.4% | 73 / 151 | 178 / 32 | 2M | 3M |
| Q1 2024 | 442 | 29M | 100.0% | 58 / 154 | 149 / 33 | 2M | 2M |
| Q4 2023 | 420 | 29M | 100.0% | 62 / 139 | 143 / 34 | 3M | 1M |
| Q3 2023 | 398 | 27M | 96.0% | 55 / 130 | 133 / 37 | 2M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
336 funds held BMI in Q2 2026, 66% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of BMI | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 1,758,399 | 6.16% | $260.91M | 0.23% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 928,527 | 3.25% | $137.77M | 0.01% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 772,689 | 2.71% | $114.65M | 0.14% | Jun 30, 2026 |
| Vanguard Information Technology Index Fund | 739,763 | 2.59% | $91.66M | 0.05% | May 31, 2026 |
| Vanguard Small-Cap Index Fund | 669,606 | 2.34% | $99.36M | 0.05% | Jun 30, 2026 |
| First Trust SMID Cap Rising Dividend Achievers ETF | 476,208 | 1.67% | $70.66M | 0.62% | Jun 30, 2026 |
| Vanguard Small-Cap Growth Index Fund | 385,607 | 1.35% | $57.22M | 0.12% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Dividend ETF | 381,940 | 1.34% | $56.67M | 0.26% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 334,945 | 1.17% | $49.70M | 0.05% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 325,603 | 1.14% | $43.74M | 0.13% | Jul 31, 2026 |
| iShares Russell 2000 Growth ETF | 275,056 | 0.96% | $40.81M | 0.26% | Jun 30, 2026 |
| Invesco Water Resources ETF | 271,055 | 0.95% | $36.42M | 1.82% | Jul 31, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 266,917 | 0.93% | $39.61M | 0.23% | Jun 30, 2026 |
| iShares S&P Small-Cap 600 Growth ETF | 262,275 | 0.92% | $38.92M | 0.47% | Jun 30, 2026 |
| First Trust Water ETF | 252,317 | 0.88% | $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 | 0.04% | 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 | – | Oct 2, 2026 |
| Todd A. Adams | Director | 0 | – | Oct 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.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
13.53%
4M shares short
Days to cover
6.0
At 1M shares a day
Change since last report
-13.9%
From 4M shares
Short volume, 20 days
63.4%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Badger Meter's stock actually held short. Settlement fails (shares not delivered on time) peaked at 3,043 shares on Sep 4, 2026 over the last 90 days.
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 M. Bauer Officer | Mar 7, 2025 | 1,482 | $311.22K | Feb 28, 2025 | RS Vesting |
| Robert 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 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 Bockhorst Officer, Director | Feb 28, 2025 | 14,063 | $2.95M | Feb 28, 2025 | RS Vesting |
| Karen M. 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 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 |
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