Royal Bank of Canada Raises Mueller Water Products (NYSE:MWA) Price Target to $23.00

Mueller Water Products (NYSE:MWA) had its target price upped by analysts at Royal Bank of Canada from $20.00 to $23.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price points to a potential upside of 14.09% from the company’s previous close.

A number of other equities research analysts also recently weighed in on MWA. StockNews.com upgraded Mueller Water Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Oppenheimer boosted their target price on Mueller Water Products from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday. Baird R W upgraded Mueller Water Products to a “hold” rating in a research report on Wednesday, May 8th. Finally, Robert W. Baird upped their price objective on Mueller Water Products from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.00.

Mueller Water Products Price Performance

Mueller Water Products stock traded up $0.07 on Wednesday, reaching $20.16. The company’s stock had a trading volume of 982,064 shares, compared to its average volume of 1,260,753. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.08 and a current ratio of 3.53. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.96 and a beta of 1.33. The business’s fifty day moving average price is $18.67 and its 200 day moving average price is $16.94. Mueller Water Products has a twelve month low of $12.13 and a twelve month high of $21.02.

Mueller Water Products (NYSE:MWA) last released its earnings results on Monday, August 5th. The industrial products company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The company had revenue of $356.70 million during the quarter, compared to the consensus estimate of $329.67 million. Mueller Water Products had a return on equity of 16.97% and a net margin of 8.10%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. Equities analysts expect that Mueller Water Products will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Mueller Water Products

In related news, SVP Kenji Takeuchi sold 51,708 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $18.88, for a total value of $976,247.04. Following the completion of the sale, the senior vice president now owns 34,992 shares in the company, valued at $660,648.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mueller Water Products news, Director Brian C. Healy purchased 2,650 shares of the stock in a transaction on Wednesday, May 15th. The stock was bought at an average cost of $19.18 per share, for a total transaction of $50,827.00. Following the completion of the acquisition, the director now directly owns 2,650 shares of the company’s stock, valued at $50,827. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenji Takeuchi sold 51,708 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $18.88, for a total value of $976,247.04. Following the completion of the sale, the senior vice president now owns 34,992 shares of the company’s stock, valued at $660,648.96. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mueller Water Products

Several large investors have recently modified their holdings of MWA. Vanguard Personalized Indexing Management LLC boosted its position in shares of Mueller Water Products by 7.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 10,736 shares of the industrial products company’s stock worth $155,000 after buying an additional 735 shares during the period. Arizona State Retirement System boosted its position in Mueller Water Products by 1.9% during the second quarter. Arizona State Retirement System now owns 43,722 shares of the industrial products company’s stock valued at $783,000 after purchasing an additional 819 shares during the last quarter. National Bank of Canada FI boosted its position in Mueller Water Products by 44.2% during the second quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 1,457 shares during the last quarter. Truist Financial Corp boosted its position in Mueller Water Products by 6.0% during the fourth quarter. Truist Financial Corp now owns 28,977 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 1,642 shares during the last quarter. Finally, Pingora Partners LLC acquired a new position in Mueller Water Products during the fourth quarter valued at approximately $29,000. 91.68% of the stock is currently owned by institutional investors.

Mueller Water Products Company Profile

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.