Envestnet Asset Management Inc. Raises Holdings in Select Water Solutions, Inc. (NYSE:WTTR)

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. boosted its holdings in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 187.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Select Water Solutions by 128.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock valued at $36,000 after buying an additional 1,525 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Select Water Solutions by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company's stock valued at $126,000 after buying an additional 1,143 shares during the period. Cetera Investment Advisers bought a new position in shares of Select Water Solutions during the 4th quarter valued at $134,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Select Water Solutions during the 4th quarter valued at $154,000. Finally, Argent Trust Co bought a new position in shares of Select Water Solutions during the 4th quarter valued at $154,000. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Price Performance

WTTR stock traded up $0.01 during trading on Monday, reaching $9.02. The company's stock had a trading volume of 1,318,261 shares, compared to its average volume of 1,252,959. Select Water Solutions, Inc. has a 1 year low of $7.20 and a 1 year high of $15.14. The company has a quick ratio of 1.67, a current ratio of 1.83 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.08 billion, a P/E ratio of 26.51 and a beta of 1.26. The company's fifty day moving average is $9.08 and its 200-day moving average is $9.93.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Select Water Solutions had a return on equity of 3.96% and a net margin of 2.42%. The business had revenue of $374.38 million during the quarter, compared to analyst estimates of $360.78 million. During the same quarter in the prior year, the business posted $0.04 EPS. Select Water Solutions's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts expect 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 will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, August 5th. Select Water Solutions's dividend payout ratio is presently 82.35%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup lowered their price target on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Piper Sandler initiated coverage on Select Water Solutions in a research note on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price objective for the company. Finally, Raymond James Financial reduced their price objective on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Select Water Solutions has an average rating of "Buy" and a consensus price target of $14.88.

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.