Harbor Capital Advisors Inc. Purchases 38,692 Shares of Select Water Solutions, Inc. $WTTR

Key Points

• Harbor Capital Advisors Inc. has increased its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 3.8%, owning approximately 0.88% of the company, valued at about $9.1 million.
• Analysts from Piper Sandler have initiated coverage on Select Water Solutions with an "overweight" rating and a price target of $15.00, while the stock currently has a consensus rating of "Buy".
• Select Water Solutions recently declared a quarterly dividend of $0.07 per share, representing an annualized yield of 3.1%, with a dividend payout ratio of 90.32%.

Harbor Capital Advisors Inc. grew its stake in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054,145 shares of the company's stock after acquiring an additional 38,692 shares during the period. Harbor Capital Advisors Inc. owned 0.88% of Select Water Solutions worth $9,108,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Select Water Solutions by 8.3% during the first quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company's stock worth $66,769,000 after purchasing an additional 488,443 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Select Water Solutions by 7.8% during the 1st quarter. Wellington Management Group LLP now owns 4,070,293 shares of the company's stock worth $42,738,000 after acquiring an additional 293,784 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Select Water Solutions by 6.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,953,648 shares of the company's stock worth $41,513,000 after acquiring an additional 229,736 shares during the period. American Century Companies Inc. lifted its holdings in shares of Select Water Solutions by 10.8% during the 1st quarter. American Century Companies Inc. now owns 3,518,256 shares of the company's stock worth $36,942,000 after acquiring an additional 343,581 shares during the period. Finally, Royce & Associates LP raised its holdings in Select Water Solutions by 2.1% in the 1st quarter. Royce & Associates LP now owns 1,784,043 shares of the company's stock valued at $18,732,000 after buying an additional 36,032 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Piper Sandler began coverage on shares of Select Water Solutions in a research note on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, Select Water Solutions presently has an average rating of "Buy" and an average price target of $15.00.

Select Water Solutions Price Performance

WTTR remained flat at $10.01 during trading on Friday. 2,404,365 shares of the company traded hands, compared to its average volume of 1,075,300. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 32.29 and a beta of 1.26. The firm's 50 day moving average price is $8.88 and its two-hundred day moving average price is $8.95. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. Select Water Solutions, Inc. has a one year low of $7.20 and a one year high of $15.14.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its 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). Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The company had revenue of $364.22 million for the quarter, compared to the consensus estimate of $362.93 million. During the same period in the prior year, the company earned $0.13 earnings per share. The firm's revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, August 5th. Select Water Solutions's dividend payout ratio (DPR) is currently 90.32%.

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.