Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $1.56 Million in Select Water Solutions, Inc. $WTTR

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new fourth-quarter position in Select Water Solutions, buying 147,983 shares worth about $1.56 million. Institutional ownership remains high, with hedge funds and other institutions holding 81.73% of the stock.
• Select Water Solutions reported better-than-expected quarterly earnings, posting EPS of $0.08 versus the $0.06 consensus and revenue of $365.96 million above estimates. The company also declared a quarterly dividend of $0.07 per share, though its payout ratio is high at 133.33%.
• Analysts have turned more positive on WTTR, with several firms raising price targets and one upgrading the stock to buy. The current consensus rating is Buy, with an average price target of $22.50.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 147,983 shares of the company's stock, valued at approximately $1,557,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned approximately 0.12% of Select Water Solutions at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. ProShare Advisors LLC increased its position in shares of Select Water Solutions by 8.4% during the fourth quarter. ProShare Advisors LLC now owns 17,299 shares of the company's stock worth $182,000 after purchasing an additional 1,336 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Select Water Solutions by 39.0% in the 4th quarter. HighTower Advisors LLC now owns 15,248 shares of the company's stock valued at $160,000 after acquiring an additional 4,279 shares during the period. Gabelli Funds LLC increased its position in shares of Select Water Solutions by 2.1% in the 4th quarter. Gabelli Funds LLC now owns 331,959 shares of the company's stock valued at $3,492,000 after acquiring an additional 6,750 shares during the period. ELCO Management Co. LLC increased its position in shares of Select Water Solutions by 42.2% in the 4th quarter. ELCO Management Co. LLC now owns 32,211 shares of the company's stock valued at $339,000 after acquiring an additional 9,564 shares during the period. Finally, Premier Fund Managers Ltd acquired a new position in shares of Select Water Solutions in the 4th quarter valued at $335,000. 81.73% of the stock is owned by institutional investors and hedge funds.

Select Water Solutions Price Performance

NYSE:WTTR opened at $19.63 on Friday. Select Water Solutions, Inc. has a one year low of $7.82 and a one year high of $20.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 93.46 and a beta of 0.99. The firm's fifty day moving average is $16.05 and its two-hundred day moving average is $13.18.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The company had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. During the same period in the prior year, the company earned $0.08 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. Research analysts expect that Select Water Solutions, Inc. will post 0.29 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, April 30th. Select Water Solutions's dividend payout ratio is presently 133.33%.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the sale, the director directly owned 71,578 shares of the company's stock, valued at approximately $1,341,371.72. This represents a 38.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin H. Fielder sold 27,010 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the sale, the director directly owned 43,315 shares in the company, valued at approximately $727,692. The trade was a 38.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,010 shares of company stock valued at $3,925,971 in the last three months. Company insiders own 6.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WTTR shares. Wall Street Zen raised Select Water Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Raymond James Financial reissued a "strong-buy" rating and issued a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Piper Sandler upped their target price on Select Water Solutions from $16.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday. Northland Securities set a $21.00 target price on Select Water Solutions in a research report on Thursday, May 7th. Finally, Citigroup upped their target price on Select Water Solutions from $18.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $22.50.

Select Water Solutions 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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