58,583 Select Water Solutions, Inc. $WTTR Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management reduced its Select Water Solutions stake by 18.3% in the third quarter, selling 58,583 shares and retaining 261,477 shares valued at approximately $5.18 million. Institutional investors collectively own 81.73% of WTTR.
• Select Water Solutions reported quarterly EPS of $0.17, exceeding the $0.13 analyst estimate, while revenue rose 8.7% year over year to $395.81 million. Analysts expect full-year EPS of approximately $0.58.
• Wall Street’s consensus view remains “Moderate Buy,” with seven Buy ratings and three Holds and an average price target of $24.57, despite some recent rating downgrades.

Sterling Capital Management LLC decreased its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 18.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,477 shares of the company's stock after selling 58,583 shares during the period. Sterling Capital Management LLC owned 0.19% of Select Water Solutions worth $5,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Select Water Solutions in the first quarter worth approximately $6,426,000. Ranger Investment Management L.P. acquired a new position in Select Water Solutions in the second quarter valued at approximately $4,791,000. NewEdge Advisors LLC lifted its stake in Select Water Solutions by 218,652.9% in the first quarter. NewEdge Advisors LLC now owns 223,128 shares of the company's stock valued at $3,414,000 after buying an additional 223,026 shares during the period. Sei Investments Co. boosted its holdings in shares of Select Water Solutions by 100.0% during the 1st quarter. Sei Investments Co. now owns 422,854 shares of the company's stock worth $6,470,000 after buying an additional 211,421 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Select Water Solutions during the 1st quarter worth approximately $3,093,000. Institutional investors own 81.73% of the company's stock.

Select Water Solutions Stock Up 3.6%

WTTR stock opened at $18.16 on Friday. The stock's 50 day simple moving average is $19.74 and its 200 day simple moving average is $18.84. Select Water Solutions, Inc. has a fifty-two week low of $9.28 and a fifty-two week high of $22.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.40 and a current ratio of 1.58. The company has a market cap of $2.52 billion, a P/E ratio of 64.87 and a beta of 1.01.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%. The business had revenue of $395.81 million for the quarter, compared to analyst estimates of $373.33 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company's quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Select Water Solutions, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WTTR has been the subject of several recent analyst reports. TD Cowen downgraded shares of Select Water Solutions to a "neutral" rating in a research report on Friday, August 21st. UBS Group reiterated a "buy" rating and set a $28.00 target price on shares of Select Water Solutions in a research report on Wednesday, September 30th. JPMorgan Chase & Co. began coverage on shares of Select Water Solutions in a research report on Friday, August 21st. They set an "overweight" rating and a $24.00 target price on the stock. Zacks Research lowered shares of Select Water Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Raymond James Financial cut shares of Select Water Solutions from a "strong-buy" rating to an "outperform" rating and raised their price target for the stock from $24.00 to $26.00 in a report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.57.

About Select Water Solutions

Select Water Solutions, Inc provides water management and environmental services to the North American oil and gas industry. The company helps exploration and production companies source, transport, store, treat, recycle and dispose of water used in drilling and hydraulic fracturing operations.

Its services include freshwater sourcing and transfer, produced-water gathering and recycling, water infrastructure construction and management, well testing, and wastewater disposal. Select Water Solutions also provides water-treatment solutions and related equipment designed to support more efficient water use and reduce the environmental impact of oilfield operations.

Formerly known as Select Energy Services, the company adopted the Select Water Solutions name in 2023 to reflect its broader focus on water and environmental services.

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