65,900 Shares in Select Water Solutions, Inc. $WTTR Bought by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp bought a new stake in Select Water Solutions during the first quarter, acquiring 65,900 shares valued at about $1.0 million.
• Analysts are generally upbeat on WTTR, with several firms issuing buy ratings and the consensus price target sitting at $22.40.
• Select Water Solutions recently reported better-than-expected earnings and revenue, and it also announced a quarterly dividend of $0.07 per share to be paid on August 19.

Fifth Third Bancorp acquired a new stake in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 65,900 shares of the company's stock, valued at approximately $1,008,000. Fifth Third Bancorp owned about 0.05% of Select Water Solutions at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Select Water Solutions by 0.6% in the fourth quarter. Barclays PLC now owns 147,581 shares of the company's stock valued at $1,553,000 after acquiring an additional 857 shares in the last quarter. Inspire Investing LLC raised its holdings in Select Water Solutions by 1.9% during the fourth quarter. Inspire Investing LLC now owns 55,271 shares of the company's stock worth $581,000 after purchasing an additional 1,023 shares in the last quarter. ProShare Advisors LLC raised its holdings in Select Water Solutions by 8.4% during the fourth quarter. ProShare Advisors LLC now owns 17,299 shares of the company's stock worth $182,000 after purchasing an additional 1,336 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Select Water Solutions by 2.5% in the third quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company's stock valued at $686,000 after purchasing an additional 1,541 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in Select Water Solutions by 10.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,699 shares of the company's stock valued at $186,000 after purchasing an additional 1,692 shares during the period. 81.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WTTR shares. Wall Street Zen raised Select Water Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Citigroup lifted their price target on Select Water Solutions from $18.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Select Water Solutions in a report on Monday, July 6th. Bank of America started coverage on Select Water Solutions in a research report on Friday, May 29th. They issued a "buy" rating and a $22.00 price objective for the company. Finally, Piper Sandler raised their target price on Select Water Solutions from $16.00 to $21.00 and gave the company an "overweight" rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.40.

Select Water Solutions Trading Down 3.2%

Shares of Select Water Solutions stock opened at $20.18 on Friday. The company has a 50-day moving average of $19.08 and a two-hundred day moving average of $15.86. Select Water Solutions, Inc. has a 12-month low of $7.86 and a 12-month high of $21.67. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.79 billion, a PE ratio of 96.08 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings results 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 company's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 EPS. On average, research analysts anticipate that Select Water Solutions, Inc. will post 0.46 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.4%. Select Water Solutions's dividend payout ratio is 133.33%.

Insider Transactions at Select Water Solutions

In other news, COO Michael Skarke sold 20,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was 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 in the company, valued at $6,413,921.64. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard Alan Burnett sold 45,316 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the sale, the director owned 71,578 shares in the company, valued at $1,341,371.72. This represents a 38.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,010 shares of company stock worth $3,925,971 over the last ninety days. 6.20% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding WTTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Select Water Solutions, Inc. (NYSE:WTTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.