PNC Financial Services Group Inc. increased its position in shares of Mueller Water Products Inc. (NYSE:MWA) by 102.4% during the second quarter, Holdings Channel reports. The institutional investor owned 37,902 shares of the company’s stock after buying an additional 19,175 shares during the period. PNC Financial Services Group Inc.’s holdings in Mueller Water Products were worth $433,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. Commonwealth Equity Services Inc bought a new position in shares of Mueller Water Products during the second quarter worth about $141,000. Boothbay Fund Management LLC bought a new position in shares of Mueller Water Products during the first quarter worth about $143,000. Wedbush Securities Inc. raised its position in shares of Mueller Water Products by 17.9% in the second quarter. Wedbush Securities Inc. now owns 12,654 shares of the company’s stock worth $145,000 after buying an additional 1,921 shares in the last quarter. Murphy Capital Management Inc. bought a new position in shares of Mueller Water Products during the second quarter worth about $175,000. Finally, Fox Run Management L.L.C. raised its position in shares of Mueller Water Products by 18.1% in the second quarter. Fox Run Management L.L.C. now owns 18,900 shares of the company’s stock worth $216,000 after buying an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.
Mueller Water Products Inc. (NYSE:MWA) traded down 2.20% during midday trading on Friday, hitting $12.44. 832,309 shares of the stock were exchanged. The company has a 50 day moving average price of $12.18 and a 200 day moving average price of $11.04. Mueller Water Products Inc. has a one year low of $7.39 and a one year high of $12.73. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 33.62 and a beta of 1.16.
Mueller Water Products (NYSE:MWA) last announced its earnings results on Wednesday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business earned $310 million during the quarter, compared to analysts’ expectations of $301 million. Mueller Water Products had a net margin of 5.20% and a return on equity of 20.05%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. Equities analysts anticipate that Mueller Water Products Inc. will post $0.49 EPS for the current year.
A number of equities analysts recently issued reports on the stock. Boenning Scattergood lowered shares of Mueller Water Products from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 13th. Zacks Investment Research upgraded shares of Mueller Water Products from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, August 9th. Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $13.00 target price (up from $12.00) on shares of Mueller Water Products in a report on Thursday, June 2nd. Finally, DA Davidson boosted their target price on shares of Mueller Water Products from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.25.
About Mueller Water Products
Mueller Water Products, Inc, is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water. The Company’s product portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment, which are used by municipalities, and residential and non-residential construction industries.
Want to see what other hedge funds are holding MWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Water Products Inc. (NYSE:MWA).
Receive News & Ratings for Mueller Water Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Water Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.