New York State Common Retirement Fund Boosts Stock Holdings in Select Water Solutions, Inc. (NYSE:WTTR)

New York State Common Retirement Fund grew its position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 57.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 664,868 shares of the company's stock after acquiring an additional 243,114 shares during the quarter. New York State Common Retirement Fund owned 0.56% of Select Water Solutions worth $6,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Select Water Solutions in the 1st quarter worth about $171,000. Cerity Partners LLC purchased a new position in shares of Select Water Solutions in the 1st quarter worth about $155,000. M&T Bank Corp purchased a new position in shares of Select Water Solutions in the 1st quarter worth about $244,000. Envestnet Asset Management Inc. boosted its holdings in shares of Select Water Solutions by 187.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 88,839 shares of the company's stock worth $933,000 after buying an additional 57,889 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Select Water Solutions by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 48,603 shares of the company's stock worth $510,000 after buying an additional 1,822 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Stock Up 0.3%

Shares of NYSE WTTR opened at $9.45 on Monday. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $15.14. The company has a current ratio of 1.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 27.79 and a beta of 1.20. The business has a 50-day moving average of $8.85 and a 200-day moving average of $10.23.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate 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 company had revenue of $374.38 million during the quarter, compared to analyst estimates of $360.78 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Select Water Solutions's revenue was up 2.2% on a year-over-year basis. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Tuesday, May 6th. Select Water Solutions's payout ratio is currently 82.35%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WTTR shares. Raymond James Financial lowered their price objective on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 9th. Citigroup lowered their price objective on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Piper Sandler started coverage on Select Water Solutions in a research note on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price objective on the stock. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $14.88.

About Select Water Solutions

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.

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