Select Water Solutions, Inc. (NYSE:WTTR) Shares Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. increased its holdings in Select Water Solutions by 187.0%, owning 88,839 shares valued at approximately $933,000.
• Select Water Solutions reported a quarterly revenue of $374.38 million, exceeding analyst expectations of $360.78 million.
• The company declared a quarterly dividend of $0.07 per share, with a dividend yield of 3.1% and a payout ratio of 82.35%.

Envestnet Asset Management Inc. lifted its position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 187.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,839 shares of the company's stock after acquiring an additional 57,889 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Select Water Solutions worth $933,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Select Water Solutions by 128.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock valued at $36,000 after purchasing an additional 1,525 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Select Water Solutions in the first quarter valued at about $123,000. Summit Investment Advisors Inc. lifted its holdings in shares of Select Water Solutions by 13.6% in the fourth 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. Cetera Investment Advisers acquired a new stake in Select Water Solutions during the fourth quarter worth approximately $134,000. Finally, Argent Trust Co purchased a new stake in Select Water Solutions in the 4th quarter worth approximately $154,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WTTR. Citigroup reduced their price target on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Raymond James Financial reduced their price target on 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. Finally, Piper Sandler began coverage on Select Water Solutions in a research note on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price target on the stock. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $14.88.

Select Water Solutions Trading Down 4.0%

NYSE:WTTR traded down $0.37 during trading hours on Wednesday, reaching $8.78. 888,677 shares of the company were exchanged, compared to its average volume of 1,248,102. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.83 and a quick ratio of 1.67. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 25.88 and a beta of 1.26. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.14. The stock has a 50 day simple moving average of $9.12 and a 200 day simple moving average of $9.89.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted 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 analysts' expectations of $362.93 million. Select Water Solutions had a return on equity of 3.96% and a net margin of 2.42%. The business's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. As a group, analysts predict that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 3.2%. Select Water Solutions's dividend payout ratio is presently 82.35%.

Select Water Solutions Company 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.