BADGER METER INC

Ticker: BMI CUSIP: 056525108 Class: EQTY

Cardinal Capital Management's Holding History (CIK: 0001434845)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 20,165 Value ($000) $3,517 Avg Close $179.79 Range $166.62 - $203.51

Q3 2025

Shares 20,090 Value ($000) $3,588 Avg Close $195.98 Range $170.39 - $248.42

Q2 2025

Shares 22,204 Value ($000) $5,439 Avg Close $225.32 Range $161.21 - $254.91

Q1 2025

Shares 22,296 Value ($000) $4,242 Avg Close $207.21 Range $186.02 - $220.32

Q4 2024

Shares 22,009 Value ($000) $4,669 Avg Close $215.93 Range $191.24 - $237.30

Q3 2024

Shares 21,860 Value ($000) $4,774 Avg Close $198.39 Range $179.05 - $218.24

Q2 2024

Shares 21,125 Value ($000) $3,937 Avg Close $180.48 Range $149.35 - $200.63

Q1 2024

Shares 21,082 Value ($000) $3,411 Avg Close $151.60 Range $137.57 - $162.82

Q4 2023

Shares 19,564 Value ($000) $3,020 Avg Close $143.50 Range $131.97 - $156.28

Q3 2023

Shares 19,606 Value ($000) $2,821 Avg Close $155.35 Range $136.32 - $167.91

Q2 2023

Shares 19,499 Value ($000) $2,877 Avg Close $135.17 Range $115.31 - $153.46

Q1 2023

Shares 19,625 Value ($000) $2,391 Avg Close $114.59 Range $101.78 - $122.01

Q4 2022

Shares 19,679 Value ($000) $2,146 Avg Close $106.24 Range $86.17 - $118.04

Q3 2022

Shares 19,534 Value ($000) $1,805 Avg Close $90.56 Range $74.97 - $100.73

Q2 2022

Shares 19,258 Value ($000) $1,558 Avg Close $80.46 Range $71.38 - $99.86

Q1 2022

Shares 18,959 Value ($000) $1,890 Avg Close $95.17 Range $83.04 - $105.56

Q4 2021

Shares 18,369 Value ($000) $1,957 Avg Close $102.11 Range $96.04 - $109.06

Q3 2021

Shares 18,448 Value ($000) $1,866 Avg Close $98.92 Range $90.78 - $104.88

Q2 2021

Shares 18,400 Value ($000) $1,805 Avg Close $91.27 Range $86.18 - $96.71

Q1 2021

Shares 18,511 Value ($000) $1,723 Avg Close $97.10 Range $85.74 - $107.88

Q4 2020

Shares 18,444 Value ($000) $1,735 Avg Close $76.86 Range $62.46 - $92.51

Q3 2020

Shares 18,260 Value ($000) $1,194 Avg Close $61.29 Range $57.07 - $65.43

Q2 2020

Shares 17,890 Value ($000) $1,125 Avg Close $56.81 Range $44.94 - $65.20

Q1 2020

Shares 17,155 Value ($000) $919 Avg Close $58.14 Range $39.68 - $67.55

Q4 2019

Shares 19,183 Value ($000) $1,246 Avg Close $56.49 Range $48.19 - $63.55

Q3 2019

Shares 19,462 Value ($000) $1,045 Avg Close $51.19 Range $47.07 - $57.37

Q2 2019

Shares 20,083 Value ($000) $1,199 Avg Close $52.44 Range $48.74 - $57.18

Q1 2019

Shares 21,189 Value ($000) $1,178 Avg Close $52.46 Range $44.87 - $58.05

Q4 2018

Shares 21,188 Value ($000) $1,042 Avg Close $48.19 Range $44.03 - $53.86

Q3 2018

Shares 20,868 Value ($000) $1,104 Avg Close $48.82 Range $41.35 - $53.03

Q2 2018

Shares 20,812 Value ($000) $930 Avg Close $41.42 Range $38.33 - $44.31

Q1 2018

Shares 20,677 Value ($000) $974 Avg Close $45.15 Range $42.38 - $47.60

Q4 2017

Shares 20,912 Value ($000) $1,000 Avg Close $43.15 Range $39.05 - $48.44

Q3 2017

Shares 21,163 Value ($000) $1,036 Avg Close $41.26 Range $36.25 - $45.98

Q2 2017

Shares 30,056 Value ($000) $1,198 Avg Close $35.90 Range $32.59 - $38.55

Q1 2017

Shares 25,997 Value ($000) $955 Avg Close $33.94 Range $31.79 - $36.72

Q4 2016

Shares 25,590 Value ($000) $946 Avg Close $32.11 Range $26.91 - $36.08

Q3 2016

Shares 22,050 Value ($000) $739 Avg Close $31.66 Range $29.30 - $34.60

Q2 2016

Shares 9,972 Value ($000) $728 Avg Close $32.67 Range $28.96 - $35.93

Q1 2016

Shares 9,398 Value ($000) $625 Avg Close $28.14 Range $24.03 - $31.71

Q4 2015

Shares 8,593 Value ($000) $503 Avg Close $27.06 Range $25.07 - $28.21

Q3 2015

Shares 8,131 Value ($000) $472 Avg Close $26.82 Range $23.34 - $29.11

Q2 2015

Shares 7,800 Value ($000) $495 Avg Close $28.46 Range $26.44 - $29.77

Q1 2015

Shares 10,659 Value ($000) $639 Avg Close $26.24 Range $24.58 - $27.59

Q4 2014

Shares 8,855 Value ($000) $526 Avg Close $24.57 Range $21.25 - $27.36

Q3 2014

Shares 8,472 Value ($000) $427 Avg Close $22.93 Range $21.11 - $24.24

Q2 2014

Shares 7,968 Value ($000) $420 Avg Close $22.79 Range $20.66 - $25.32

Q1 2014

Shares 6,784 Value ($000) $374 Avg Close $23.48 Range $21.22 - $24.91

Q4 2013

Shares 6,212 Value ($000) $339 Avg Close $22.96 Range $19.78 - $24.97

Q3 2013

Shares 6,203 Value ($000) $288 Avg Close $20.70 Range $19.33 - $21.97

Q2 2013

Shares 6,028 Value ($000) $269 Avg Close $20.08 Range $18.35 - $23.78

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	20,165	$3,517	$179.79	$166.62 - $203.51
Q3 2025	20,090	$3,588	$195.98	$170.39 - $248.42
Q2 2025	22,204	$5,439	$225.32	$161.21 - $254.91
Q1 2025	22,296	$4,242	$207.21	$186.02 - $220.32
Q4 2024	22,009	$4,669	$215.93	$191.24 - $237.30
Q3 2024	21,860	$4,774	$198.39	$179.05 - $218.24
Q2 2024	21,125	$3,937	$180.48	$149.35 - $200.63
Q1 2024	21,082	$3,411	$151.60	$137.57 - $162.82
Q4 2023	19,564	$3,020	$143.50	$131.97 - $156.28
Q3 2023	19,606	$2,821	$155.35	$136.32 - $167.91
Q2 2023	19,499	$2,877	$135.17	$115.31 - $153.46
Q1 2023	19,625	$2,391	$114.59	$101.78 - $122.01
Q4 2022	19,679	$2,146	$106.24	$86.17 - $118.04
Q3 2022	19,534	$1,805	$90.56	$74.97 - $100.73
Q2 2022	19,258	$1,558	$80.46	$71.38 - $99.86
Q1 2022	18,959	$1,890	$95.17	$83.04 - $105.56
Q4 2021	18,369	$1,957	$102.11	$96.04 - $109.06
Q3 2021	18,448	$1,866	$98.92	$90.78 - $104.88
Q2 2021	18,400	$1,805	$91.27	$86.18 - $96.71
Q1 2021	18,511	$1,723	$97.10	$85.74 - $107.88
Q4 2020	18,444	$1,735	$76.86	$62.46 - $92.51
Q3 2020	18,260	$1,194	$61.29	$57.07 - $65.43
Q2 2020	17,890	$1,125	$56.81	$44.94 - $65.20
Q1 2020	17,155	$919	$58.14	$39.68 - $67.55
Q4 2019	19,183	$1,246	$56.49	$48.19 - $63.55
Q3 2019	19,462	$1,045	$51.19	$47.07 - $57.37
Q2 2019	20,083	$1,199	$52.44	$48.74 - $57.18
Q1 2019	21,189	$1,178	$52.46	$44.87 - $58.05
Q4 2018	21,188	$1,042	$48.19	$44.03 - $53.86
Q3 2018	20,868	$1,104	$48.82	$41.35 - $53.03
Q2 2018	20,812	$930	$41.42	$38.33 - $44.31
Q1 2018	20,677	$974	$45.15	$42.38 - $47.60
Q4 2017	20,912	$1,000	$43.15	$39.05 - $48.44
Q3 2017	21,163	$1,036	$41.26	$36.25 - $45.98
Q2 2017	30,056	$1,198	$35.90	$32.59 - $38.55
Q1 2017	25,997	$955	$33.94	$31.79 - $36.72
Q4 2016	25,590	$946	$32.11	$26.91 - $36.08
Q3 2016	22,050	$739	$31.66	$29.30 - $34.60
Q2 2016	9,972	$728	$32.67	$28.96 - $35.93
Q1 2016	9,398	$625	$28.14	$24.03 - $31.71
Q4 2015	8,593	$503	$27.06	$25.07 - $28.21
Q3 2015	8,131	$472	$26.82	$23.34 - $29.11
Q2 2015	7,800	$495	$28.46	$26.44 - $29.77
Q1 2015	10,659	$639	$26.24	$24.58 - $27.59
Q4 2014	8,855	$526	$24.57	$21.25 - $27.36
Q3 2014	8,472	$427	$22.93	$21.11 - $24.24
Q2 2014	7,968	$420	$22.79	$20.66 - $25.32
Q1 2014	6,784	$374	$23.48	$21.22 - $24.91
Q4 2013	6,212	$339	$22.96	$19.78 - $24.97
Q3 2013	6,203	$288	$20.70	$19.33 - $21.97
Q2 2013	6,028	$269	$20.08	$18.35 - $23.78