Badger Meter, Inc. (BMI)

In the past six months, Badger Meter's stock experienced a 10% decline over the past quarter due to a Q4 2025 earnings miss and decelerating organic growth. However, the stock advanced 5.6% in the last 30 days, driven by an analyst upgrade and resilient demand. The company declared a regular quarterly dividend of $0.40 per share and increased its quarterly dividend by 18% to $0.40 per share, marking 33 consecutive years of dividend increases. The company also expanded its share repurchase authorization by $75 million. As of April 12, 2026, analysts have a consensus "Hold" rating for BMI, with an average 12-month price target of $182.88.

Badger Meter's business suggests a relatively stable demand profile with some influences from municipal spending cycles. Approximately 85% of the demand for its products is related to replacement, which is largely non-discretionary. Demand can be impacted by project timing and municipal budgets. Large contracts represent significant growth drivers, indicating that project-based demand can have a substantial impact. The company's focus on water utilities, municipalities, and commercial and industrial customers suggests a consistent need for its flow measurement and control solutions.

Badger Meter, Inc. is a global innovator, manufacturer, and marketer of flow measurement, quality, control, and communication products and solutions, operating within the Information Technology and Industrials sectors. The company specializes in smart water solutions, with nearly 95% of its net sales from water-related applications. Its products include smart measurement hardware, communications, data visualization and analytics software, and support services, encompassing various types of meters, water quality monitoring solutions, leak detection hardware, valves, and communication technologies. Software offerings provide data and analytics for water management and consumer engagement.

Badger Meter has a global geographic footprint with manufacturing facilities, sales offices, and distribution partners across North America, Europe, Asia, and the Middle East. The majority of its revenue is derived from the United States. The company's headquarters are located in Milwaukee, Wisconsin, which serves as a central hub for corporate management, strategic planning, research and development, and advanced manufacturing operations. Other notable operational locations include Tulsa, Oklahoma, USA, Brno, Czech Republic, and Singapore.

Badger Meter has cultivated a strong brand reputation for precision engineering, durability, and adherence to international regulatory standards over its more than a century of operation. Its reputation has been positively influenced by its strategic focus on digital water solutions and sustainability. The company is committed to environmental management, maintains ISO 9001 certification, and ensures its software solutions comply with SOC 2 and ISO 27001 for data security. Strategic acquisitions, such as SmartCover Systems, have expanded its offerings in leak detection and wastewater monitoring.

Badger Meter's ownership is predominantly held by institutional investors, who held approximately 96.15% as of March 31, 2025, 97.56% as of April and May 2025, and about 89% as of April 9, 2026. Major institutional shareholders include BlackRock, Inc., The Vanguard Group Inc., and State Street Corp. Ownership by company insiders constitutes a smaller portion, typically ranging from approximately 0.38% to 4.44%.