Ritholtz Wealth Management Sells 49,405 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Ritholtz Wealth Management reduced its holdings in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 35.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,022 shares of the company's stock after selling 49,405 shares during the period. Ritholtz Wealth Management owned approximately 0.07% of Select Water Solutions worth $935,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Savant Capital LLC increased its position in shares of Select Water Solutions by 11.6% during the fourth quarter. Savant Capital LLC now owns 20,672 shares of the company's stock worth $274,000 after acquiring an additional 2,143 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Select Water Solutions by 7.9% in the 4th quarter. Principal Financial Group Inc. now owns 46,781 shares of the company's stock valued at $619,000 after acquiring an additional 3,412 shares during the period. Truist Financial Corp acquired a new position in shares of Select Water Solutions in the 4th quarter valued at approximately $134,000. New York State Common Retirement Fund grew its holdings in Select Water Solutions by 277.8% during the 4th quarter. New York State Common Retirement Fund now owns 421,754 shares of the company's stock worth $5,584,000 after acquiring an additional 310,125 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of Select Water Solutions in the 4th quarter valued at $188,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WTTR. Raymond James Financial cut their target price on shares of 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 target price on shares of Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 13th.

Select Water Solutions Stock Performance

WTTR stock traded down $0.06 during mid-day trading on Friday, hitting $9.24. The company had a trading volume of 1,584,845 shares, compared to its average volume of 1,077,830. The firm has a market cap of $1.11 billion, a PE ratio of 27.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 1.83. The stock's fifty day moving average price is $8.55 and its two-hundred day moving average price is $10.84. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $15.14.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $374.38 million during the quarter, compared to the consensus estimate of $360.78 million. Select Water Solutions had a net margin of 2.42% and a return on equity of 3.96%. The company's revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. On average, analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently announced 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. The ex-dividend date was Tuesday, May 6th. This represents a $0.28 annualized dividend and a yield of 3.03%. Select Water Solutions's payout ratio is presently 82.35%.

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.