Fort Washington Investment Advisors Inc. OH Buys New Shares in Select Water Solutions, Inc. $WTTR

Key Points

• Fort Washington Investment Advisors initiated a new position in Select Water Solutions (NYSE: WTTR), buying 56,961 shares worth about $872,000 in the first quarter.
• Wall Street remains broadly positive on the stock, with a consensus “Buy” rating and an average price target of $22.40, compared with the recent price near $19.65.
• The company beat quarterly EPS and revenue estimates, but insiders have been selling shares recently, including notable sales by the COO and a director in the past 90 days.

Fort Washington Investment Advisors Inc. OH bought a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 56,961 shares of the company's stock, valued at approximately $872,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Select Water Solutions in the 3rd quarter valued at about $29,000. Osaic Holdings Inc. grew its position in shares of Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock worth $42,000 after buying an additional 1,830 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Select Water Solutions by 2,704.0% during the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock worth $60,000 after buying an additional 5,408 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock worth $75,000 after buying an additional 6,980 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Select Water Solutions by 190.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company's stock worth $77,000 after buying an additional 5,847 shares during the period. 81.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WTTR. Bank of America assumed coverage on shares of Select Water Solutions in a report on Friday, May 29th. They issued a "buy" rating and a $22.00 target price on the stock. Piper Sandler boosted their price target on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Select Water Solutions from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $24.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $22.40.

Select Water Solutions Stock Performance

Shares of Select Water Solutions stock opened at $19.65 on Tuesday. The firm has a market capitalization of $2.71 billion, a P/E ratio of 93.55 and a beta of 1.00. Select Water Solutions, Inc. has a 52 week low of $7.86 and a 52 week high of $20.48. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The firm's 50 day moving average is $18.07 and its two-hundred day moving average is $14.71.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping 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 business had revenue of $365.96 million during the quarter, compared to the consensus estimate of $344.63 million. During the same quarter in the previous year, the firm earned $0.08 EPS. The company's revenue was down 2.2% compared to the same quarter last year. Research analysts forecast that Select Water Solutions, Inc. will post 0.38 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

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

Insider Activity at Select Water Solutions

In other news, COO Michael Skarke sold 20,000 shares of Select Water Solutions stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total transaction of $355,600.00. Following the sale, the chief operating officer owned 360,738 shares in the company, valued at approximately $6,413,921.64. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Alan Burnett sold 45,316 shares of Select Water Solutions stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $18.74, for a total value of $849,221.84. Following the sale, the director owned 71,578 shares in the company, valued at $1,341,371.72. This trade represents a 38.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,010 shares of company stock valued at $3,925,971 in the last ninety days. 6.20% of the stock is currently owned by insiders.

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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