Insider Trading April 22, 2026 11:34 AM

Badger Meter VP of Engineering Purchases $99,785 of Company Stock

Edward F. Callahan buys 858 shares as company weathers quarterly shortfall and analyst target cuts

By Leila Farooq BMI
Badger Meter VP of Engineering Purchases $99,785 of Company Stock
BMI

Edward F. Callahan, Badger Meter Inc.'s vice president of engineering, purchased $99,785 of common stock on April 21, 2026. The acquisition, reported in a Form 4 filed April 22, 2026, consisted of 858 shares at $116.30 each and leaves Callahan with 1,186 shares directly held. The transaction occurred amid a recent decline in BMI shares and after the company reported first-quarter fiscal 2026 results that missed expectations, prompting analyst price-target reductions.

Key Points

  • Edward F. Callahan, VP-Engineering, purchased 858 shares of Badger Meter common stock on April 21, 2026, for a total of $99,785; the Form 4 was filed April 22, 2026.
  • The purchase occurred while BMI shares traded at $122.75 after the stock declined about 23% over the past week and roughly 33% over six months; InvestingPro characterized the stock as appearing undervalued and noted a 33-year dividend growth streak.
  • Badger Meter reported fiscal 2026 first-quarter results below expectations - EPS $0.93 vs $1.20 expected and revenue $202.3 million vs $230.3 million expected - prompting RBC Capital and Stifel to cut price targets while retaining positive ratings.

Edward F. Callahan, who serves as vice president of engineering at Badger Meter Inc. (NYSE: BMI), acquired common stock valued at $99,785 on April 21, 2026, according to a regulatory filing. The purchase comprised 858 shares at $116.30 per share and was disclosed on a Form 4 submitted to the Securities and Exchange Commission on April 22, 2026.

Following the purchase, Callahan directly owns 1,186 shares of Badger Meter common stock. The insider buy was executed while BMI shares were trading at $122.75 and after the stock had fallen roughly 23% over the prior week and about 33% over the preceding six months.

Market commentary included an InvestingPro analysis that described the stock as appearing undervalued at current levels. The same InvestingPro material also highlights that the company has increased its dividend for 33 consecutive years, noted as one of more than a dozen InvestingPro tips available to subscribers.

The insider purchase follows the release of Badger Meter's first-quarter fiscal 2026 results, which disappointed relative to consensus expectations. The company reported earnings per share of $0.93, below the $1.20 analysts expected. Revenue for the quarter came in at $202.3 million versus an anticipated $230.3 million.

Analysts reacted to the quarterly shortfall by adjusting their price targets while maintaining generally positive ratings. RBC Capital trimmed its target to $169 from $197 but kept an Outperform rating, citing an operating miss attributed to project timing and a slower book-and-ship business. Stifel also lowered its target, to $140 from $174, and continued to carry a Buy rating after reporting a 9% revenue decline.

These results and subsequent analyst revisions have been reflected in market pricing and are the immediate backdrop to the insider purchase reported in the SEC filing. The transaction record and company financials provide clear, contemporaneous data points for investors assessing the stock amid recent volatility.

Risks

  • Financial performance risk - the company reported a quarterly operating and revenue shortfall, which may continue to pressure investor sentiment and share price; this impacts markets tracking industrial and equipment manufacturers.
  • Operational timing risk - analysts cited project timing and a slower book-and-ship business as contributors to the operating miss, introducing uncertainty for near-term revenue recognition and supply-chain dependent sectors.
  • Analyst target revisions - reductions in price targets by RBC Capital and Stifel, despite maintained ratings, reflect recalibrated expectations that could influence institutional demand and valuations in related industrial subsectors.

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