Mueller Water Products (NYSE:MWA)‘s stock had its “buy” rating reiterated by Boenning Scattergood in a research note issued to investors on Thursday, November 2nd. They presently have a $14.00 target price on the industrial products company’s stock. Boenning Scattergood’s price target points to a potential upside of 17.35% from the stock’s current price.
The analysts wrote, “We rate MWA Outperform, with our $14 target reflecting a water infrastructure peer group average forward P/E of 25 times.””
Several other research analysts have also issued reports on the company. Zacks Investment Research lowered Mueller Water Products from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. BidaskClub lowered Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Oppenheimer Holdings, Inc. set a $13.00 target price on Mueller Water Products and gave the company a “buy” rating in a research note on Monday, July 31st. Royal Bank Of Canada reiterated a “buy” rating and issued a $14.00 price target on shares of Mueller Water Products in a report on Wednesday, October 11th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $14.00 price target on shares of Mueller Water Products in a report on Wednesday, October 4th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $13.75.
Mueller Water Products (NYSE:MWA) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. The business had revenue of $226.90 million during the quarter, compared to analyst estimates of $227.14 million. Mueller Water Products had a return on equity of 15.83% and a net margin of 14.93%. Mueller Water Products’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. sell-side analysts anticipate that Mueller Water Products will post 0.53 EPS for the current fiscal year.
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In other Mueller Water Products news, CFO Evan Hart sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $12.10, for a total transaction of $605,000.00. Following the transaction, the chief financial officer now owns 321,247 shares of the company’s stock, valued at approximately $3,887,088.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Mueller Water Products during the 3rd quarter worth approximately $231,000. Belpointe Asset Management LLC bought a new position in shares of Mueller Water Products during the 3rd quarter worth approximately $131,000. California Public Employees Retirement System boosted its stake in shares of Mueller Water Products by 3.1% during the 3rd quarter. California Public Employees Retirement System now owns 455,848 shares of the industrial products company’s stock worth $5,835,000 after acquiring an additional 13,748 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Mueller Water Products by 167.3% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,927 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 14,351 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Mueller Water Products during the 3rd quarter worth approximately $1,286,000. Institutional investors own 84.04% of the company’s stock.
Mueller Water Products Company Profile
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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