Mueller Water Products (NYSE:MWA) Price Target Raised to $29.00

Mueller Water Products (NYSE:MWA) had its target price raised by Royal Bank Of Canada from $27.00 to $29.00 in a report published on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the industrial products company’s stock.

Separately, Robert W. Baird set a $33.00 target price on Mueller Water Products in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.00.

Mueller Water Products Stock Up 4.4%

Shares of Mueller Water Products stock opened at $29.17 on Friday. Mueller Water Products has a one year low of $22.01 and a one year high of $29.24. The company has a market cap of $4.56 billion, a P/E ratio of 23.15, a PEG ratio of 1.38 and a beta of 1.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.55 and a current ratio of 4.02. The firm has a fifty day moving average of $25.46 and a two-hundred day moving average of $25.38.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Wednesday, February 4th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $318.20 million for the quarter, compared to analyst estimates of $315.26 million. Mueller Water Products had a net margin of 13.83% and a return on equity of 22.34%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. On average, analysts forecast that Mueller Water Products will post 1.24 earnings per share for the current year.

Mueller Water Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.28 annualized dividend and a dividend yield of 1.0%. Mueller Water Products’s payout ratio is 22.22%.

Insider Activity at Mueller Water Products

In other news, Director Brian C. Healy bought 1,125 shares of the stock in a transaction on Wednesday, January 7th. The shares were bought at an average price of $24.41 per share, with a total value of $27,461.25. Following the completion of the acquisition, the director owned 17,925 shares of the company’s stock, valued at approximately $437,549.25. This trade represents a 6.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Todd P. Helms sold 15,094 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $24.62, for a total value of $371,614.28. Following the completion of the transaction, the senior vice president owned 85,917 shares of the company’s stock, valued at approximately $2,115,276.54. This represents a 14.94% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Mueller Water Products

A number of large investors have recently added to or reduced their stakes in MWA. Danske Bank A S lifted its stake in shares of Mueller Water Products by 266.7% during the 4th quarter. Danske Bank A S now owns 1,100 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 800 shares during the period. Covestor Ltd grew its position in shares of Mueller Water Products by 131.8% in the third quarter. Covestor Ltd now owns 1,050 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 597 shares during the period. Cullen Frost Bankers Inc. increased its stake in Mueller Water Products by 112.5% in the second quarter. Cullen Frost Bankers Inc. now owns 1,294 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 685 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Mueller Water Products in the fourth quarter valued at $34,000. Finally, Quarry LP lifted its position in Mueller Water Products by 398.0% during the third quarter. Quarry LP now owns 2,196 shares of the industrial products company’s stock worth $56,000 after buying an additional 1,755 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Mueller Water Products Company Profile

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company’s portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company’s operations are organized around two primary business segments.