ProShare Advisors LLC Sells 27,138 Shares of Mueller Water Products $MWA

ProShare Advisors LLC trimmed its stake in shares of Mueller Water Products (NYSE:MWA) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 261,572 shares of the industrial products company’s stock after selling 27,138 shares during the period. ProShare Advisors LLC owned approximately 0.17% of Mueller Water Products worth $6,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MWA. First Trust Advisors LP grew its position in Mueller Water Products by 66.1% in the 2nd quarter. First Trust Advisors LP now owns 5,535,000 shares of the industrial products company’s stock worth $133,061,000 after purchasing an additional 2,203,088 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Mueller Water Products by 525.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,393,293 shares of the industrial products company’s stock worth $35,557,000 after buying an additional 1,170,683 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Mueller Water Products by 19.4% in the second quarter. Invesco Ltd. now owns 5,825,366 shares of the industrial products company’s stock worth $140,042,000 after acquiring an additional 945,258 shares during the period. Geode Capital Management LLC increased its position in Mueller Water Products by 21.8% during the second quarter. Geode Capital Management LLC now owns 4,449,896 shares of the industrial products company’s stock valued at $106,987,000 after acquiring an additional 796,596 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Mueller Water Products by 344.1% in the second quarter. Qube Research & Technologies Ltd now owns 945,613 shares of the industrial products company’s stock valued at $22,733,000 after acquiring an additional 732,669 shares during the period. Institutional investors own 91.68% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Todd P. Helms sold 15,094 shares of Mueller Water Products stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $24.62, for a total transaction of $371,614.28. Following the sale, the senior vice president owned 85,917 shares of the company’s stock, valued at approximately $2,115,276.54. This trade represents a 14.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian C. Healy purchased 1,125 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was acquired at an average price of $24.41 per share, with a total value of $27,461.25. Following the completion of the purchase, the director directly owned 17,925 shares in the company, valued at $437,549.25. This trade represents a 6.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Mueller Water Products Trading Up 1.5%

Mueller Water Products stock opened at $29.87 on Friday. Mueller Water Products has a 12-month low of $22.01 and a 12-month high of $30.08. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 1.35 and a beta of 1.17. The firm has a 50 day moving average of $25.88 and a 200 day moving average of $25.50. The company has a current ratio of 4.02, a quick ratio of 2.55 and a debt-to-equity ratio of 0.44.

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 for the quarter, beating the consensus estimate of $0.27 by $0.02. The business had revenue of $318.20 million for the quarter, compared to the consensus estimate of $315.26 million. Mueller Water Products had a net margin of 13.83% and a return on equity of 22.34%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, research analysts predict that Mueller Water Products will post 1.24 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Tuesday, February 10th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, February 10th. Mueller Water Products’s dividend payout ratio is presently 22.22%.

Analyst Upgrades and Downgrades

MWA has been the subject of several research reports. Oppenheimer reaffirmed an “outperform” rating and set a $32.00 price target (up previously from $30.00) on shares of Mueller Water Products in a research report on Monday. Robert W. Baird set a $33.00 target price on shares of Mueller Water Products in a research report on Friday, February 6th. Finally, Royal Bank Of Canada increased their price target on shares of Mueller Water Products from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.33.

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.