 Boenning Scattergood analyst Ryan Connors downgraded Mueller Water Products, Inc. NYSE:MWA to Neutral from Outperform with no price target after the companys disappointing fiscal Q4 results. Connors says, Management conceding to poor operating execution is somewhat disconcerting given that peers are thriving amid one of the biggest demand booms in over 20 years, and it is tough to wave it aside as a one-off when MWA has a history of such hiccups. 