Sterling Capital Management LLC Boosts Stake in Select Water Solutions, Inc. $WTTR

Sterling Capital Management LLC lifted its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 17.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,734 shares of the company’s stock after buying an additional 40,262 shares during the period. Sterling Capital Management LLC owned approximately 0.23% of Select Water Solutions worth $4,249,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WTTR. Wilmington Savings Fund Society FSB acquired a new stake in Select Water Solutions during the 3rd quarter worth about $29,000. Osaic Holdings Inc. raised its stake in shares of Select Water Solutions by 59.9% in the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after purchasing an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Select Water Solutions by 2,704.0% during the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock worth $60,000 after purchasing an additional 5,408 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after purchasing an additional 6,980 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Select Water Solutions by 190.5% in the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after buying an additional 5,847 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WTTR has been the topic of several research reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $24.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. Bank of America initiated coverage on shares of Select Water Solutions in a report on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective on the stock. Piper Sandler increased their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Zacks Research upgraded shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $22.40.

Insider Activity

In other Select Water Solutions news, COO Michael Skarke sold 20,000 shares of Select Water Solutions stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total value of $355,600.00. Following the completion of the transaction, the chief operating officer owned 360,738 shares of the company’s stock, valued at approximately $6,413,921.64. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian Szymanski sold 20,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the completion of the transaction, the chief accounting officer owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,010 shares of company stock worth $3,925,971 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.

Select Water Solutions Trading Up 2.2%

Shares of NYSE:WTTR opened at $19.61 on Friday. Select Water Solutions, Inc. has a 12-month low of $7.86 and a 12-month high of $20.48. The company has a market capitalization of $2.71 billion, a PE ratio of 93.37 and a beta of 1.00. The business has a 50 day moving average of $17.98 and a two-hundred day moving average of $14.63. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. As a group, analysts forecast that Select Water Solutions, Inc. will post 0.38 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date was Thursday, April 30th. Select Water Solutions’s dividend payout ratio (DPR) is currently 133.33%.

Select Water Solutions Company 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.