Select Water Solutions, Inc. $WTTR Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 176.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,129 shares of the company’s stock after acquiring an additional 191,086 shares during the period. Wedge Capital Management L L P NC’s holdings in Select Water Solutions were worth $3,147,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Deprince Race & Zollo Inc. raised its position in Select Water Solutions by 1,334.5% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock valued at $40,450,000 after purchasing an additional 3,520,091 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Select Water Solutions by 78.1% during the third quarter. Franklin Resources Inc. now owns 4,939,877 shares of the company’s stock worth $52,807,000 after buying an additional 2,166,649 shares during the period. Alliancebernstein L.P. lifted its stake in Select Water Solutions by 2,133.9% in the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock worth $22,783,000 after acquiring an additional 2,035,870 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Select Water Solutions by 124.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after acquiring an additional 997,847 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Select Water Solutions by 466.8% in the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after purchasing an additional 802,833 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Stock Down 0.2%

NYSE:WTTR opened at $15.59 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $13.33 and a 200-day moving average of $11.65. The firm has a market capitalization of $1.89 billion, a PE ratio of 74.22 and a beta of 0.98. Select Water Solutions, Inc. has a 52 week low of $7.20 and a 52 week high of $15.73.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $346.50 million during the quarter, compared to the consensus estimate of $320.85 million. During the same period last year, the business posted ($0.02) EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Analysts predict that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. Select Water Solutions’s payout ratio is 133.33%.

Wall Street Analyst Weigh In

A number of research firms recently commented on WTTR. Wall Street Zen raised shares of Select Water Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Thursday, February 19th. 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 report on Thursday, February 26th. Citigroup upped their price target on Select Water Solutions from $15.00 to $16.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $16.63.

Insider Activity at Select Water Solutions

In related news, CEO John Schmitz sold 33,916 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.03, for a total value of $441,925.48. Following the sale, the chief executive officer owned 249,243 shares of the company’s stock, valued at $3,247,636.29. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.40% of the company’s stock.

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.