American Century Companies Inc. Raises Stake in Select Water Solutions, Inc. $WTTR

Key Points

• American Century Companies Inc. increased its stake in Select Water Solutions, owning 3,518,256 shares after purchasing an additional 343,581 shares, representing a 10.8% increase in the first quarter.
• Select Water Solutions recently announced a quarterly dividend of $0.07 per share, translating to an annual yield of 3.5% and indicating a high payout ratio of 90.32%.
• Analyst reports show a mixed outlook for Select Water Solutions, with Piper Sandler issuing an "overweight" rating and a target price of $15.00, while Citigroup reduced its target from $18.00 to $14.00.

American Century Companies Inc. increased its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 10.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,518,256 shares of the company's stock after purchasing an additional 343,581 shares during the quarter. American Century Companies Inc. owned 2.95% of Select Water Solutions worth $36,942,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WTTR. Tower Research Capital LLC TRC grew its stake in Select Water Solutions by 128.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock worth $36,000 after buying an additional 1,525 shares during the period. Apollon Wealth Management LLC purchased a new stake in Select Water Solutions during the 1st quarter worth $113,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Select Water Solutions in the 1st quarter valued at $123,000. Summit Investment Advisors Inc. increased its holdings in Select Water Solutions by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company's stock valued at $126,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in Select Water Solutions in the fourth quarter valued at about $134,000. 81.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WTTR has been the subject of several analyst reports. Piper Sandler started coverage on Select Water Solutions in a research report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 target price for the company. Citigroup decreased their price target on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Raymond James Financial dropped their price objective on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $14.88.

Select Water Solutions Price Performance

WTTR stock opened at $7.9470 on Thursday. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.14. The stock's 50 day moving average is $9.05 and its two-hundred day moving average is $9.52. The company has a market capitalization of $963.73 million, a PE ratio of 25.64 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). The company had revenue of $364.22 million for the quarter, compared to analyst estimates of $362.93 million. Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. Analysts predict that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.28 dividend on an annualized basis and a yield of 3.5%. Select Water Solutions's dividend payout ratio (DPR) is currently 90.32%.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.

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