Gabelli Funds LLC Has $3.48 Million Stock Position in Select Water Solutions, Inc. $WTTR

Gabelli Funds LLC raised its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 91.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 325,209 shares of the company’s stock after acquiring an additional 155,703 shares during the quarter. Gabelli Funds LLC owned approximately 0.27% of Select Water Solutions worth $3,476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deprince Race & Zollo Inc. raised its holdings in Select Water Solutions by 1,334.5% during the third quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock worth $40,450,000 after acquiring an additional 3,520,091 shares in the last quarter. Villanova Investment Management Co LLC boosted its position in Select Water Solutions by 181.8% during the second quarter. Villanova Investment Management Co LLC now owns 217,519 shares of the company’s stock valued at $1,879,000 after purchasing an additional 140,328 shares during the last quarter. American Century Companies Inc. grew its stake in Select Water Solutions by 4.0% in the second quarter. American Century Companies Inc. now owns 3,660,705 shares of the company’s stock valued at $31,628,000 after purchasing an additional 142,449 shares in the last quarter. CenterBook Partners LP increased its position in shares of Select Water Solutions by 504.8% during the 2nd quarter. CenterBook Partners LP now owns 959,272 shares of the company’s stock worth $8,288,000 after purchasing an additional 800,656 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Select Water Solutions during the 2nd quarter worth approximately $3,194,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Select Water Solutions

In other news, CEO John Schmitz sold 33,916 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.03, for a total transaction of $441,925.48. Following the completion of the sale, the chief executive officer owned 249,243 shares in the company, valued at approximately $3,247,636.29. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a report on Thursday, February 19th. Wall Street Zen upgraded shares of Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday, January 9th. Piper Sandler increased their price target on shares of Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Citigroup lifted their price objective on shares of Select Water Solutions from $15.00 to $16.50 and gave the company a “buy” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Select Water Solutions currently has an average rating of “Buy” and an average price target of $16.63.

Select Water Solutions Stock Performance

Shares of NYSE WTTR opened at $13.88 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $15.45. The stock has a 50 day moving average of $12.46 and a 200-day moving average of $11.08. The company has a market capitalization of $1.68 billion, a P/E ratio of 66.07 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.The business had revenue of $346.50 million for the quarter, compared to analyst estimates of $320.85 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts predict that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. Select Water Solutions’s dividend payout ratio is presently 133.33%.

Select Water Solutions Profile

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company’s offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.