Badger Meter, Inc. (BMI)

Badger Meter's stock has experienced fluctuations, with a 52-week high of $256.08 and a low of $139.14. As of early February 2026, the stock was trading around $151.23. The Q4 2025 earnings report revealed a miss in revenue and profit expectations, leading to a stock decline, which management attributed to the timing of AMI project completions and fewer operating days. The company has a history of consistent quarterly dividends, with the latest dividend per share being $0.4. The company also repurchased $15 million in shares in Q4 2025.

Demand for Badger Meter's products exhibits some variability, with water meters providing a stable base due to replacement cycles. Sales can be influenced by macroeconomic uncertainty and the timing of large utility projects, leading to fluctuations in quarterly sales. Growth rates may be lower in the first half of the year and higher in the second half, aligning with the ramp-up timing of significant projects. The adoption of AMI and digital water solutions in North America also influences demand patterns.

Badger Meter, Inc. is a global provider of flow measurement, control products, and communications solutions, serving water utilities, municipalities, and commercial and industrial customers. The company operates within the Industrial Machinery & Equipment sector, focusing on advanced water solutions. Its product portfolio includes mechanical and electronic water meters, flow instrumentation, and advanced analytics solutions, such as the ORION® Cellular endpoint, E-Series® Ultrasonic meters, and the BEACON® Advanced Metering Analytics software suite. The company also provides valves, sensing instruments, water quality monitoring solutions, and leak detection hardware, along with training and support services. The business is split into Utility Water (88% of net sales) and Flow Instrumentation (12%).

Badger Meter has a global presence with manufacturing facilities in the United States, Mexico, Germany, Slovakia, and other international locations, serving customers in over 100 countries. In Q1 2024, the United States contributed $124.5 million to revenue (up 12% year-over-year), while international revenue was $33.1 million (up 9% year-over-year).

Badger Meter has a strong brand reputation as a leader in smart water management solutions and water technology innovation. The company is known for its advanced water solutions and innovative IoT-enabled products. The Q4 2025 earnings miss temporarily impacted market perception, but management clarified that it was due to project timing, and analysts continue to forecast healthy demand.

Badger Meter, Inc. has high institutional ownership, with 824 institutional owners and shareholders holding 35,630,799 shares. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc, iShares Core S&P Small-Cap ETF (IJR), State Street Corp, Invesco Ltd., Vanguard Total Stock Market Index Fund Investor Shares (VTSMX), Geode Capital Management, Llc, Pictet Asset Management Holding SA, Morgan Stanley, and iShares Russell 2000 ETF (IWM). Bessemer Group Inc. significantly increased its stake in Q3 2025.