Mueller Water Products (NYSE:MWA) Upgraded at Royal Bank Of Canada

Key Points

• Royal Bank of Canada downgraded its view of Mueller Water Products to “strong sell,” while the broader analyst consensus remains “Hold” with an average price target of $28.40.
• MWA shares fell 3.8% to $21.88, near their 12-month low of $21.77 and below both their 50-day and 200-day moving averages.
• The company reported better-than-expected quarterly results, with EPS of $0.50 versus the $0.39 estimate and revenue up 4.1% year over year to $395.9 million; insiders have nevertheless sold more than $1.36 million of stock over the past 90 days.

Mueller Water Products (NYSE:MWA - Get Free Report) was upgraded by stock analysts at Royal Bank Of Canada to a "strong sell" rating in a report released on Wednesday, Zacks reports.

Several other research analysts also recently issued reports on MWA. Robert W. Baird set a $35.00 price objective on Mueller Water Products in a research note on Friday, August 7th. Weiss Ratings lowered shares of Mueller Water Products from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday. Wall Street Zen upgraded shares of Mueller Water Products from a "hold" rating to a "buy" rating in a research report on Monday, August 10th. Finally, Barclays began coverage on shares of Mueller Water Products in a research note on Tuesday, June 30th. They set an "underweight" rating and a $25.00 price target for the company. Two equities 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $28.40.

Mueller Water Products Trading Down 3.8%

NYSE MWA opened at $21.88 on Wednesday. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.01. Mueller Water Products has a twelve month low of $21.77 and a twelve month high of $31.00. The company has a quick ratio of 3.08, a current ratio of 4.64 and a debt-to-equity ratio of 0.40. The business's fifty day moving average is $24.85 and its 200 day moving average is $26.18.

Mueller Water Products (NYSE:MWA - Get Free Report) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. Mueller Water Products had a return on equity of 23.55% and a net margin of 15.02%.The firm had revenue of $395.90 million during the quarter, compared to the consensus estimate of $391.49 million. During the same period last year, the company earned $0.34 earnings per share. The business's quarterly revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Mueller Water Products will post 1.58 EPS for the current fiscal year.

Insider Activity at Mueller Water Products

In related news, Director Brian Healy bought 1,183 shares of Mueller Water Products stock in a transaction that occurred on Tuesday, July 7th. The shares were acquired at an average cost of $25.33 per share, for a total transaction of $29,965.39. Following the completion of the acquisition, the director directly owned 24,946 shares of the company's stock, valued at approximately $631,882.18. The trade was a 4.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Ortiz sold 12,048 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $24.23, for a total transaction of $291,923.04. Following the sale, the director directly owned 30,824 shares of the company's stock, valued at $746,865.52. This represents a 28.10% 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. Insiders have sold 52,598 shares of company stock worth $1,360,685 over the last ninety days. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Mueller Water Products

Several large investors have recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in Mueller Water Products by 154.5% in the second quarter. Tidal Investments LLC now owns 32,022 shares of the industrial products company's stock valued at $827,000 after buying an additional 19,442 shares during the period. Nykredit A S bought a new stake in Mueller Water Products during the second quarter valued at $60,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Mueller Water Products during the 2nd quarter worth about $3,283,000. Paralel Advisors LLC acquired a new stake in Mueller Water Products during the 2nd quarter worth about $2,172,000. Finally, Strive Financial Group LLC raised its position in shares of Mueller Water Products by 333.6% in the 2nd quarter. Strive Financial Group LLC now owns 5,294 shares of the industrial products company's stock worth $137,000 after acquiring an additional 4,073 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Mueller Water Products Company Profile

Mueller Water Products, Inc designs and manufactures products used to support the operation, maintenance, and monitoring of water distribution and wastewater infrastructure. Its offerings include gate, butterfly, and check valves; fire hydrants; pipe fittings; and related products used to control and manage the flow of water through municipal and other utility systems.

The company also provides technologies and services intended to help utilities monitor their networks, identify leaks, improve asset management, and enhance operational efficiency.

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