American Century Companies Inc. Acquires 343,581 Shares of 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 Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,518,256 shares of the company's stock after buying an additional 343,581 shares during the period. American Century Companies Inc. owned 2.95% of Select Water Solutions worth $36,942,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in Select Water Solutions by 128.6% in the 4th 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. Summit Investment Advisors Inc. boosted 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 worth $126,000 after buying an additional 1,143 shares during the period. Cetera Investment Advisers bought a new position in Select Water Solutions in the 4th quarter worth approximately $134,000. Apollon Wealth Management LLC bought a new position in Select Water Solutions in the 1st quarter worth approximately $113,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Select Water Solutions in the 4th quarter valued at $154,000. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Price Performance

Shares of NYSE WTTR traded down $0.08 during mid-day trading on Tuesday, reaching $8.24. 572,799 shares of the company were exchanged, compared to its average volume of 1,059,732. Select Water Solutions, Inc. has a 52 week low of $7.20 and a 52 week high of $15.14. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $998.66 million, a PE ratio of 26.56 and a beta of 1.26. The company's 50 day moving average price is $8.97 and its 200 day moving average price is $9.36.

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

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.28 annualized dividend and a yield of 3.4%. Select Water Solutions's payout ratio is currently 90.32%.

Wall Street Analyst Weigh In

Several brokerages have commented on WTTR. Piper Sandler began coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price target for the company. Citigroup cut their price target on shares of 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 cut their price target on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $15.00.

Select Water Solutions Profile

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.