Deprince Race & Zollo Inc. Reduces Holdings in Select Water Solutions, Inc. $WTTR

Key Points

• Deprince Race & Zollo trimmed its stake in Select Water Solutions by 3.6%, selling 134,800 shares to hold 3,649,065 shares (about 3.01% of the company), while several other institutions (Franklin, AllianceBernstein, Russell, Millennium, Wellington) significantly increased positions and institutional ownership stands at 81.73%.
• Analyst sentiment is broadly positive with a consensus rating of "Buy" and an average target price of $17.00, supported by recent upgrades and target raises from Northland, Citigroup and Piper Sandler.
• Select Water Solutions recently missed EPS expectations (reported -$0.20 vs. $0.01 est.) despite a revenue beat, the CEO sold 33,916 shares (an ~11.98% reduction in his position), and the company pays a quarterly dividend of $0.07 (annualized yield ~1.8%).

Deprince Race & Zollo Inc. cut its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,649,065 shares of the company's stock after selling 134,800 shares during the quarter. Deprince Race & Zollo Inc. owned 3.01% of Select Water Solutions worth $38,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of WTTR. Franklin Resources Inc. raised its position in Select Water Solutions by 78.1% during the 3rd quarter. Franklin Resources Inc. now owns 4,939,877 shares of the company's stock valued at $52,807,000 after purchasing an additional 2,166,649 shares during the last quarter. Alliancebernstein L.P. raised its position in Select Water Solutions by 2,133.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company's stock valued at $22,783,000 after purchasing an additional 2,035,870 shares during the last quarter. Russell Investments Group Ltd. raised its position 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 valued at $19,258,000 after purchasing an additional 997,847 shares during the last quarter. Millennium Management LLC raised its position in Select Water Solutions by 466.8% during 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. Finally, Wellington Management Group LLP raised its position in Select Water Solutions by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company's stock valued at $54,802,000 after purchasing an additional 705,612 shares during the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. 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 research report on Thursday, February 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a research report on Wednesday. Citigroup increased their target price on Select Water Solutions from $16.50 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Wall Street Zen raised Select Water Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, December 27th. Finally, Piper Sandler raised their price objective on Select Water Solutions from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $17.00.

Insider Activity

In other news, CEO John Schmitz sold 33,916 shares of the firm's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $13.03, for a total value of $441,925.48. Following the transaction, the chief executive officer directly owned 249,243 shares in the company, valued at $3,247,636.29. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.20% of the stock is currently owned by company insiders.

Select Water Solutions Stock Performance

Shares of WTTR opened at $15.19 on Monday. The business's fifty day simple moving average is $13.98 and its two-hundred day simple moving average is $12.03. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $16.00. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 72.31 and a beta of 0.97.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, February 17th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.21). Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. The business had revenue of $346.50 million for the quarter, compared to analysts' expectations of $320.85 million. During the same quarter in the prior year, the business posted ($0.02) earnings per share. The business's revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal 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 paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, February 6th. Select Water Solutions's dividend payout ratio (DPR) is 133.33%.

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.

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