Who Owns Badger Meter Company?

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Who Really Controls Badger Meter?

Uncover the forces steering the ship at Badger Meter, a company consistently innovating in the crucial water technology sector. Knowing Badger Meter SWOT Analysis is essential for any investor or strategist. With a market cap of approximately $7.15 billion and a history stretching back to 1905, understanding the Badger Meter ownership structure is vital for informed decision-making.

This deep dive into Badger Meter's ownership will explore its evolution from its founders to its current status as a publicly traded company. We'll examine the influence of major shareholders, the role of the Board of Directors, and recent trends impacting Badger Meter's trajectory. Discover how the Badger Meter company's ownership structure influences its strategic direction and long-term success, offering valuable insights for investors and industry watchers alike.

The origins of the company, now known as Badger Meter, trace back to March 8, 1905. The company was established by a group of four Milwaukee businessmen. Their initial focus was on creating frost-proof water meters, a crucial innovation for the cold Midwestern climate.

The founders, including Herbert F. Zarse and A.W. Tucker, aimed to solve the common problem of frozen water pipes. Their design featured a replaceable cast-iron bottom plate that would break upon freezing, protecting the meter's internal components. This innovative approach quickly gained traction in the market.

By 1910, the company was selling approximately 3,700 meters annually, each priced at around $8. John Leach, another founder, served as the company's president in its early years. The company operated from a two-story machine shop in downtown Milwaukee, guided by the principles of 'Accuracy, Durability, Simplicity, and Capacity'.

Early Company Operations

The company's early success was driven by its innovative product and focus on a specific market need. The initial capitalization and specific equity splits among the founders are not extensively documented, typical for businesses of that era. The early focus on a practical solution for water measurement clearly dictated the direction and control of the company. For more insights into the company's approach, you can explore the Marketing Strategy of Badger Meter.

• The company's initial success was driven by its innovative product and focus on a specific market need.
• Detailed records of the initial capitalization and specific equity splits among the founders in 1905 are scarce.
• The company initially operated out of a two-story machine shop in downtown Milwaukee.
• The founding team's focus on a practical solution for a prevalent problem in water measurement clearly dictated the early direction and control of the company.

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The evolution of Badger Meter's ownership structure is marked by a pivotal shift in 1971 when it became a publicly traded company on the American Stock Exchange. This strategic move provided access to public capital, fueling the company's expansion and growth initiatives. As of June 13, 2025, the company's market capitalization stands at approximately $7.15 billion, with roughly 29.5 million shares outstanding, reflecting its significant presence in the market.

The current ownership of Badger Meter is largely dominated by institutional investors. As of May 2025, institutional investors hold a substantial 95.27% of the shares, with mutual funds accounting for 76.40%. Key institutional shareholders, according to data from March 31, 2025, include BlackRock, Inc., holding 17.97% (5,291,556 shares), The Vanguard Group, Inc., with 12.89% (3,796,229 shares), and State Street Corporation, owning 4.9% (1,442,685 shares). Other significant holders include Geode Capital Management, LLC (2.91%), Morgan Stanley (2.48%), and Invesco Ltd. (2.14%). This shift towards institutional ownership is a common trend for established public companies, reflecting confidence in the company's strategic direction and financial health.

Insider holdings represent a small portion of the total ownership, remaining consistent at 0.47% as of May 2025. Kenneth C. Bockhorst, the Chairman, President, and Chief Executive Officer, held 0.13% of the shares, equivalent to 36,713 shares, as of May 11, 2025. The increasing institutional ownership reflects a positive outlook on the company's performance, as demonstrated by a 17.5% increase in net sales to $826.6 million in 2024 and a 34.7% rise in diluted EPS to $4.23. For more insights into the company's strategic direction, consider reading about the Growth Strategy of Badger Meter.

Key Takeaways on Badger Meter Ownership

The majority of Badger Meter ownership is held by institutional investors, indicating strong market confidence. The company's transition to public trading in 1971 was a significant step in its Badger Meter history.

• Institutional investors hold over 95% of shares.
• Badger Meter stock is traded on the public market.
• The CEO holds a small percentage of shares.
• The company's financial performance has been robust.

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The Board of Directors at Badger Meter plays a vital role in guiding the company's strategic direction and representing the interests of its shareholders. The Chairman, President, and Chief Executive Officer is Kenneth C. Bockhorst. Detailed information about the board members, their affiliations, and committee memberships can be found in the company's annual proxy statements.

The company's governance structure is designed to ensure independent oversight. The board authorizes actions such as share repurchases, indicating active capital management. For example, the Board of Directors authorized the repurchase of up to 200,000 shares of common stock through February 2026.

Badger Meter operates under a one-share-one-vote structure, common among publicly traded companies listed on the NYSE. This structure ensures that voting power is distributed proportionally to share ownership. There is no indication of dual-class shares or special voting rights that would grant disproportionate control to specific entities. Recent SEC filings and news releases do not suggest any major proxy battles or governance controversies, indicating a stable governance environment. If you're interested in learning more about the company, you can check out this article about Badger Meter.

Key Takeaways on Badger Meter's Governance

Badger Meter has a board of directors that oversees strategic direction. The company follows a one-share-one-vote structure.

• Kenneth C. Bockhorst is the Chairman, President, and CEO.
• The company focuses on consistent financial performance and strategic acquisitions.
• The board authorized a share repurchase program through February 2026.

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Over the past few years, the financial performance of Badger Meter has shown consistent growth, influencing its ownership structure. In 2024, the company reported total sales of $826.6 million, an 18% increase from $703.6 million in 2023. Diluted earnings per share rose by 35% to a record $4.23. The company also generated a strong free cash flow of $142.2 million in 2024.

Badger Meter ownership has been marked by strategic acquisitions, such as the purchase of Telog® remote monitoring assets in January 2024 and the acquisition of SmartCover Systems in January 2025 for $185 million. These moves align with the company's focus on expanding its smart water solutions. For more details, you can check out the Brief History of Badger Meter.

Institutional investors maintain a significant presence in Badger Meter, holding 95.27% of the shares as of May 2025, with mutual funds holding 76.40%. The largest institutional shareholders include BlackRock, Inc., The Vanguard Group, Inc., and State Street Corporation. Insider holdings have remained stable at 0.47% in May 2025, indicating no major shifts in ownership by company executives or directors. The company has consistently increased its annual dividend for 32 consecutive years, with the annual dividend rate increasing by 26% to $1.36 per share in 2024.

Financial Growth

Badger Meter's sales reached $826.6 million in 2024, an 18% increase from the previous year. Diluted earnings per share increased by 35% to $4.23. The company also reported strong free cash flow of $142.2 million in 2024.

Strategic Acquisitions

The company acquired Telog® in January 2024 and SmartCover Systems in January 2025 for $185 million. These acquisitions support Badger Meter's expansion in smart water solutions. This is essential for the company's future growth.

Ownership Structure

Institutional ownership remains high at 95.27% as of May 2025, with mutual funds holding 76.40%. Insider holdings are stable at 0.47%. Key institutional shareholders include BlackRock, Inc., The Vanguard Group, Inc., and State Street Corporation.

Dividend History

Badger Meter has increased its annual dividend for 32 consecutive years. The annual dividend rate increased by 26% to $1.36 per share in 2024, demonstrating commitment to shareholders.

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