Mueller Water Products (NYSE:MWA) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Mueller Water Products from “buy” to “hold.” The broader analyst consensus is also “Hold,” with a $27.40 average price target; ratings include two Buys, one Hold, and two Sells.
• MWA opened at $21.67, below its 50-day and 200-day moving averages, after analysts including Goldman Sachs and RBC lowered their price targets. The stock has a 12-month range of $20.90 to $31.00.
• The company reported quarterly earnings of $0.50 per share, beating estimates of $0.39, while revenue rose 4.1% year over year to $395.9 million. Insiders sold 52,598 shares worth about $1.36 million over the past three months.

Mueller Water Products (NYSE:MWA - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Several other research analysts also recently weighed in on MWA. The Goldman Sachs Group cut their price target on Mueller Water Products from $29.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday. Barclays started coverage on Mueller Water Products in a research note on Tuesday, June 30th. They issued an "underweight" rating and a $25.00 price objective on the stock. Robert W. Baird set a $35.00 price objective on shares of Mueller Water Products in a report on Friday, August 7th. Royal Bank Of Canada lowered shares of Mueller Water Products from a "sector perform" rating to an "underperform" rating and cut their target price for the stock from $30.00 to $21.00 in a research report on Wednesday, September 16th. Finally, Weiss Ratings downgraded shares of Mueller Water Products from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $27.40.

Mueller Water Products Trading Up 0.5%

NYSE:MWA opened at $21.67 on Friday. Mueller Water Products has a 12 month low of $20.90 and a 12 month high of $31.00. The company has a current ratio of 4.64, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40. The firm's 50 day moving average is $23.75 and its 200 day moving average is $25.47. The stock has a market capitalization of $3.38 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.88 and a beta of 1.01.

Mueller Water Products (NYSE:MWA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. The business had revenue of $395.90 million during the quarter, compared to analyst estimates of $391.49 million. Mueller Water Products had a return on equity of 23.55% and a net margin of 15.02%. Mueller Water Products's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. Sell-side analysts expect that Mueller Water Products will post 1.53 earnings per share for the current year.

Insider Activity

In related news, Director Christine Ortiz sold 12,048 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $24.23, for a total transaction of $291,923.04. Following the sale, the director owned 30,824 shares of the company's stock, valued at approximately $746,865.52. This represents a 28.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Paul McAndrew sold 40,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $26.39, for a total value of $1,055,600.00. Following the completion of the transaction, the chief executive officer owned 42,556 shares of the company's stock, valued at approximately $1,123,052.84. This represents a 48.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 52,598 shares of company stock worth $1,360,685. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mueller Water Products

Several hedge funds and other institutional investors have recently modified their holdings of MWA. First Trust Advisors LP boosted its position in shares of Mueller Water Products by 34.0% in the first quarter. First Trust Advisors LP now owns 6,036,679 shares of the industrial products company's stock valued at $165,948,000 after acquiring an additional 1,530,193 shares during the period. Janus Henderson Group PLC increased its holdings in Mueller Water Products by 58.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,934,813 shares of the industrial products company's stock worth $53,217,000 after acquiring an additional 714,913 shares during the period. Bank of New York Mellon Corp purchased a new stake in Mueller Water Products in the 2nd quarter worth approximately $28,496,000. Bank of America Corp DE lifted its stake in Mueller Water Products by 30.0% in the 1st quarter. Bank of America Corp DE now owns 888,975 shares of the industrial products company's stock worth $24,438,000 after purchasing an additional 205,269 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Mueller Water Products by 354.9% in the 1st quarter. Bessemer Group Inc. now owns 588,830 shares of the industrial products company's stock valued at $16,187,000 after purchasing an additional 459,393 shares during the period. 91.68% of the stock is currently owned by institutional investors.

Mueller Water Products Company Profile

Mueller Water Products, Inc develops and manufactures products used to build, maintain and monitor water transmission and distribution systems. Its offerings help utilities and other infrastructure operators control water flow, connect and repair pipelines, manage pressure and identify leaks.

The company's product portfolio includes water valves, fire hydrants, pipe fittings and repair products, metering and monitoring systems, leak-detection technologies, and related flow-control equipment.

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