Punch & Associates Investment Management Inc. Decreases Stock Holdings in Select Water Solutions, Inc. $WTTR

Key Points

• Punch & Associates Investment Management Inc. has decreased its holdings in Select Water Solutions, Inc. by 13.3%, selling 271,752 shares and bringing its total ownership to 1.76 million shares.
• Several brokerages have reduced their price targets for Select Water Solutions, with Citigroup lowering its target from $18.00 to $14.00, while Piper Sandler set a new target at $15.00.
• Select Water Solutions reported earnings of $0.10 per share for the last quarter, missing expectations, with a projected EPS of 0.91 for the current fiscal year.

Punch & Associates Investment Management Inc. trimmed its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,765,582 shares of the company's stock after selling 271,752 shares during the quarter. Select Water Solutions comprises about 1.2% of Punch & Associates Investment Management Inc.'s holdings, making the stock its 20th largest position. Punch & Associates Investment Management Inc. owned 1.48% of Select Water Solutions worth $18,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of WTTR. Tower Research Capital LLC TRC grew its holdings in shares of Select Water Solutions by 128.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock worth $36,000 after purchasing an additional 1,525 shares in the last quarter. Northern Trust Corp raised its stake in Select Water Solutions by 11.1% in the fourth quarter. Northern Trust Corp now owns 866,760 shares of the company's stock valued at $11,476,000 after purchasing an additional 86,274 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Select Water Solutions during the fourth quarter valued at approximately $192,000. Ameriprise Financial Inc. grew its stake in Select Water Solutions by 1.7% in the 4th quarter. Ameriprise Financial Inc. now owns 143,508 shares of the company's stock worth $1,900,000 after buying an additional 2,365 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Select Water Solutions by 29.5% in the 4th quarter. Bank of America Corp DE now owns 247,914 shares of the company's stock worth $3,282,000 after buying an additional 56,478 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company's stock.

Select Water Solutions Trading Down 1.5%

Shares of Select Water Solutions stock traded down $0.13 during trading on Tuesday, reaching $8.43. The company's stock had a trading volume of 1,791,031 shares, compared to its average volume of 951,262. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.14. The firm's 50-day moving average is $8.88 and its two-hundred day moving average is $9.06. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 27.19 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.The business had revenue of $364.22 million during the quarter, compared to the consensus estimate of $362.93 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The business's revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.28 annualized dividend and a yield of 3.3%. Select Water Solutions's dividend payout ratio is currently 90.32%.

Analyst Ratings Changes

WTTR has been the subject of a number of research analyst reports. Piper Sandler started coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price objective for the company. Citigroup lowered their price target on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $15.00.

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.