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 stake in Select Water Solutions, buying 147,983 shares worth about $1.56 million.
• Several other institutional investors also boosted their positions, and 81.73% of the stock is now owned by institutions and hedge funds.
• Analysts are broadly positive on WTTR, with a consensus Buy rating and average price target of $22.50, while the company recently beat quarterly EPS and revenue estimates.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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.

Other hedge funds have also modified their holdings of the company. Cinctive Capital Management LP raised its holdings in shares of Select Water Solutions by 55.7% in the 3rd quarter. Cinctive Capital Management LP now owns 623,285 shares of the company's stock worth $6,663,000 after buying an additional 222,849 shares in the last quarter. Penn Capital Management Company LLC raised its holdings in shares of Select Water Solutions by 12.2% in the 3rd quarter. Penn Capital Management Company LLC now owns 1,179,161 shares of the company's stock worth $12,618,000 after buying an additional 128,257 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Select Water Solutions by 91.9% in the 3rd quarter. Gabelli Funds LLC now owns 325,209 shares of the company's stock worth $3,476,000 after buying an additional 155,703 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in shares of Select Water Solutions in the 3rd quarter worth approximately $1,604,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Select Water Solutions by 176.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 299,129 shares of the company's stock worth $3,147,000 after buying an additional 191,086 shares in the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WTTR. Wall Street Zen raised Select Water Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Citigroup increased their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a report on Wednesday, April 8th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $24.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. Finally, Northland Securities set a $21.00 price target on Select Water Solutions in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $22.50.

Insider Transactions at Select Water Solutions

In other news, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction on Monday, May 11th. The stock was sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the sale, the chief accounting officer directly owned 114,752 shares of the company's stock, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction on Friday, May 8th. The shares were sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the sale, the director directly owned 43,315 shares of the company's stock, valued at $727,692. This trade represents a 38.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,010 shares of company stock valued at $3,925,971 over the last quarter. Corporate insiders own 6.20% of the company's stock.

Select Water Solutions Trading Down 1.8%

WTTR stock opened at $19.28 on Friday. The business has a fifty day moving average price of $16.15 and a 200 day moving average price of $13.23. Select Water Solutions, Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $20.48. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 91.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76.

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

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, April 30th. Select Water Solutions's dividend payout ratio (DPR) is 133.33%.

About Select Water Solutions

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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