Badger Meter (BMI)
Connects water meters, monitoring sensors, communications, and software for utilities and industrial customers.
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Sells smart water meters, cellular AMI endpoints, cloud analytics, and monitoring sensors to utilities, with a smaller flow-instrumentation line for commercial and industrial customers. Equipment sales are supplemented by SaaS and services; Utility Water provides most revenue, and North America—primarily the United States—is the largest market.
Supplies water utilities with mechanical and ultrasonic meters, ORION radio endpoints, BEACON cloud software, and sensors for water quality, pressure, leaks, sewer lines, and lift stations. Organized under the BlueEdge suite, these offerings connect measurement hardware with communications, analytics, and support across drinking-water distribution and wastewater collection. SmartCover and UK-based UDlive extend sewer-network monitoring.
Serves commercial and industrial customers through the smaller Flow Instrumentation product line, which provides meters, valves, and sensors for water and other fluids. Utility Water generates most sales, and North America—primarily the United States—is the largest market. Equipment revenue is supplemented by SaaS and related services. Demand depends on utility project timing and municipal budgets; connected products also rely on cellular networks and critical electronic components. Both product lines are managed as one reportable segment.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 18, 2026 | Northcoast Research | Target | Target: — | Target: $148 |
| Jul 28, 2026 | Barclays | Reiterate | Rating: —Target: $109 | Target: $112 |
| Jul 23, 2026 | Seaport Global | Target | Target: $220 | Target: $160 |
| Jul 23, 2026 | RBC Capital | Reiterate | Rating: —Target: $169 | Target: $162 |
| Jul 23, 2026 | Robert W. Baird | Target | Target: $145 | Target: $167 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $95.7M · Total debt $0 · Total assets $998.2M · Shareholders' equity $683.1M
- Revenue
- $222.3M
- Operating income
- $39.4M
- Net income
- $29.7M
HistoryDividendAnnual yield
| Institutions | 113.69% | 32.96M shares | |
|---|---|---|---|
| 487 holders · as of Jun 30, 2026 | |||
| Insiders | 0.68% | 195.7K shares | |
| 18 holders · as of Jul 31, 2026 | |||
| Adds to | 114.37% | ||
28.99M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 114.37%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.88% | 4.89M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 8.64% | 2.50M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.70% | 1.65M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.54% | 1.32M | as of Jun 30, 2026 |
Kayne Anderson Rudnick Investment Management LLCInstitution | 3.53% | 1.02M | filed Feb 14, 2020 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 30, 2026 | Edward F. Callahan | officer: VP-Engineering | +751 | $135.25 |
| Apr 23, 2026 | Robert Wrocklage | officer: EVP-N.A. Muncipal Utility | +1,000 | $122.35 |
| Apr 21, 2026 | Christina M. Tarantino | officer: VP-Controller | +870 | $113.80 |
| Apr 21, 2026 | Edward F. Callahan | officer: VP-Engineering | +858 | $116.30 |
| Apr 21, 2026 | Richard Htwe | officer: VP-Global Operations | +1,700 | $116.13 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Badger Meter | $133.15 | +1.25% | $3.81B | 30.7 | 28.1 | 4.3 | −6.6% |
| Xylem | $107.39 | +0.14% | $25.04B | 25.5 | 18.2 | 2.7 | +1.5% |
| Roper Technologies | $362.06 | −0.91% | $36.88B | 15.2 | 15.4 | 4.5 | +8.5% |
| Itron | $92.44 | +0.01% | $4.05B | 15.4 | 14.3 | 1.8 | −7.2% |
| Hubbell | $458.92 | +0.31% | $24.17B | 27.1 | 21.1 | 3.9 | +15.3% |
| Mueller Water Products | $22.00 | +0.41% | $3.43B | 15.5 | 14.2 | 2.3 | +4.1% |
| Veralto | $95.82 | +0.67% | $23.20B | 24.0 | 21.2 | 4.1 | +7.5% |
| Median | 19.8 | 16.8 | 3.3 | +5.8% |