Envestnet Portfolio Solutions Inc. Boosts Holdings in Mueller Water Products $MWA

Envestnet Portfolio Solutions Inc. increased its stake in shares of Mueller Water Products (NYSE:MWA) by 5.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,953 shares of the industrial products company’s stock after buying an additional 661 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Mueller Water Products were worth $287,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Mueller Water Products during the first quarter worth about $502,000. Envestnet Asset Management Inc. increased its stake in shares of Mueller Water Products by 354.3% in the first quarter. Envestnet Asset Management Inc. now owns 318,939 shares of the industrial products company’s stock worth $8,107,000 after purchasing an additional 248,733 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Mueller Water Products in the first quarter worth about $217,000. Amalgamated Bank increased its stake in shares of Mueller Water Products by 741.2% in the first quarter. Amalgamated Bank now owns 44,567 shares of the industrial products company’s stock worth $1,133,000 after purchasing an additional 39,269 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Mueller Water Products by 430.1% in the first quarter. PNC Financial Services Group Inc. now owns 21,320 shares of the industrial products company’s stock worth $542,000 after purchasing an additional 17,298 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, CAO Suzanne G. Smith sold 1,288 shares of Mueller Water Products stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $26.91, for a total transaction of $34,660.08. Following the completion of the sale, the chief accounting officer directly owned 763 shares in the company, valued at $20,532.33. The trade was a 62.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian C. Healy bought 1,070 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were bought at an average price of $25.78 per share, with a total value of $27,584.60. Following the completion of the transaction, the director owned 16,800 shares of the company’s stock, valued at $433,104. The trade was a 6.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 34,664 shares of company stock worth $909,819 over the last three months. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MWA has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Water Products in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Mueller Water Products from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Mueller Water Products Price Performance

MWA stock opened at $25.91 on Friday. The firm has a 50 day moving average of $25.78 and a 200-day moving average of $25.17. The company has a current ratio of 3.86, a quick ratio of 2.56 and a debt-to-equity ratio of 0.48. Mueller Water Products has a 12 month low of $21.35 and a 12 month high of $28.58. The firm has a market capitalization of $4.05 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Thursday, February 24th. The industrial products company reported $0.11 EPS for the quarter. Mueller Water Products had a net margin of 10.67% and a return on equity of 20.89%. The company had revenue of $237.40 million during the quarter. As a group, sell-side analysts predict that Mueller Water Products will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th were given a dividend of $0.067 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.27 annualized dividend and a yield of 1.0%. Mueller Water Products’s payout ratio is presently 28.72%.

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.