Mueller Water Products (NYSE:MWA) PT Raised to $20.00

Mueller Water Products (NYSE:MWA) had its target price upped by stock analysts at Royal Bank of Canada from $17.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 4.38% from the stock’s current price.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group lifted their price objective on Mueller Water Products from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Oppenheimer raised Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Thursday, April 18th. StockNews.com downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird boosted their target price on shares of Mueller Water Products from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.00.

Mueller Water Products Stock Performance

NYSE:MWA opened at $19.16 on Wednesday. The company has a current ratio of 3.29, a quick ratio of 1.89 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.99 billion, a P/E ratio of 29.94, a PEG ratio of 1.97 and a beta of 1.33. The stock has a 50 day simple moving average of $15.89 and a 200 day simple moving average of $14.61. Mueller Water Products has a 1-year low of $12.11 and a 1-year high of $19.17.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The company had revenue of $353.40 million during the quarter, compared to the consensus estimate of $299.62 million. Mueller Water Products had a net margin of 6.35% and a return on equity of 13.86%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 EPS. Research analysts anticipate that Mueller Water Products will post 0.69 earnings per share for the current year.

Insider Activity

In related news, CAO Suzanne G. Smith sold 2,800 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $15.09, for a total transaction of $42,252.00. Following the completion of the sale, the chief accounting officer now directly owns 3,208 shares in the company, valued at approximately $48,408.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Suzanne G. Smith sold 2,800 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $15.09, for a total value of $42,252.00. Following the completion of the transaction, the chief accounting officer now owns 3,208 shares of the company’s stock, valued at approximately $48,408.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Todd P. Helms sold 37,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $15.15, for a total value of $560,550.00. Following the completion of the transaction, the senior vice president now directly owns 41,181 shares of the company’s stock, valued at approximately $623,892.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,458 shares of company stock worth $1,052,260. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mueller Water Products

A number of large investors have recently made changes to their positions in the company. Pingora Partners LLC bought a new position in shares of Mueller Water Products in the fourth quarter worth about $29,000. Daiwa Securities Group Inc. purchased a new stake in shares of Mueller Water Products in the first quarter worth $46,000. International Assets Investment Management LLC raised its position in shares of Mueller Water Products by 1,340.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,752 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 4,422 shares during the period. Register Financial Advisors LLC purchased a new position in shares of Mueller Water Products during the 1st quarter valued at $80,000. Finally, Global Retirement Partners LLC increased its stake in Mueller Water Products by 63.7% in the 4th quarter. Global Retirement Partners LLC now owns 6,962 shares of the industrial products company’s stock worth $97,000 after buying an additional 2,708 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors.

About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.