Covestor Ltd Has $68,000 Holdings in Mueller Water Products, Inc. (NYSE:MWA)

Covestor Ltd cut its position in Mueller Water Products, Inc. (NYSE:MWA) by 56.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,147 shares of the industrial products company’s stock after selling 4,103 shares during the period. Covestor Ltd’s holdings in Mueller Water Products were worth $68,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of MWA. V Square Quantitative Management LLC acquired a new position in Mueller Water Products in the 3rd quarter valued at $26,000. Allspring Global Investments Holdings LLC bought a new position in shares of Mueller Water Products in the second quarter worth $72,000. National Bank of Canada FI raised its stake in Mueller Water Products by 44.2% in 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 in the last quarter. Quarry LP lifted its position in Mueller Water Products by 341.0% during the second quarter. Quarry LP now owns 5,632 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 4,355 shares during the period. Finally, Blue Trust Inc. grew its stake in Mueller Water Products by 434.6% during the third quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company’s stock worth $106,000 after buying an additional 3,977 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MWA shares. Royal Bank of Canada boosted their target price on shares of Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $27.00 target price (up previously from $26.00) on shares of Mueller Water Products in a report on Friday, November 8th. StockNews.com downgraded Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, TD Cowen cut Mueller Water Products from a “buy” rating to a “hold” rating and lifted their target price for the company from $19.00 to $20.00 in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mueller Water Products has an average rating of “Hold” and an average target price of $22.20.

Mueller Water Products Trading Down 2.4 %

NYSE MWA opened at $24.42 on Friday. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.34. Mueller Water Products, Inc. has a twelve month low of $13.08 and a twelve month high of $26.28. The company has a quick ratio of 2.31, a current ratio of 3.70 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average is $21.91 and its 200 day moving average is $20.00.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. Mueller Water Products had a return on equity of 19.71% and a net margin of 8.82%. The firm had revenue of $348.20 million for the quarter, compared to analyst estimates of $324.80 million. During the same period last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Mueller Water Products, Inc. will post 1.16 EPS for the current fiscal year.

Mueller Water Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.067 per share. The ex-dividend date is Friday, November 8th. This represents a $0.27 annualized dividend and a dividend yield of 1.10%. This is an increase from Mueller Water Products’s previous quarterly dividend of $0.06. Mueller Water Products’s dividend payout ratio (DPR) is presently 36.99%.

Insider Transactions at Mueller Water Products

In other Mueller Water Products news, Director Thomas J. Hansen sold 10,791 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.55, for a total transaction of $221,755.05. Following the completion of the sale, the director now owns 102,792 shares of the company’s stock, valued at approximately $2,112,375.60. This represents a 9.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

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.