Russell Investments Group Ltd. Grows Position in Select Water Solutions, Inc. $WTTR

Key Points

• Russell Investments Group Ltd. has increased its holdings in Select Water Solutions by 15.1%, now owning approximately 603,993 shares valued at $6.34 million.
• Select Water Solutions recently reported quarterly earnings of $0.10 per share, missing estimates, with revenues of $364.22 million, which is down 0.3% year-over-year.
• The company declared a quarterly dividend of $0.07, representing an annualized yield of 3.5% and a high dividend payout ratio of 90.32%.

Russell Investments Group Ltd. raised its position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 15.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603,993 shares of the company's stock after buying an additional 79,372 shares during the quarter. Russell Investments Group Ltd. owned about 0.51% of Select Water Solutions worth $6,342,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in Select Water Solutions by 128.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock valued at $36,000 after buying an additional 1,525 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in Select Water Solutions by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company's stock valued at $126,000 after buying an additional 1,143 shares in the last quarter. Cetera Investment Advisers purchased a new position in Select Water Solutions during the 4th quarter valued at approximately $134,000. Apollon Wealth Management LLC purchased a new position in Select Water Solutions during the 1st quarter valued at approximately $113,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Select Water Solutions during the 4th quarter valued at approximately $154,000. Hedge funds and other institutional investors own 81.73% of the company's stock.

Select Water Solutions Price Performance

NYSE:WTTR opened at $7.9470 on Thursday. The firm has a market capitalization of $963.73 million, a price-to-earnings ratio of 25.64 and a beta of 1.26. Select Water Solutions, Inc. has a 1 year low of $7.20 and a 1 year high of $15.14. The business has a 50 day simple moving average of $9.05 and a 200-day simple moving average of $9.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.82.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $362.93 million. During the same period in the prior year, the business posted $0.13 earnings per share. Select Water Solutions's revenue was down .3% on a year-over-year basis. Equities analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.07 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.5%. Select Water Solutions's dividend payout ratio (DPR) is currently 90.32%.

Analyst Ratings Changes

Several equities analysts have weighed in on WTTR shares. Piper Sandler started coverage on Select Water Solutions in a report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price target for the company. Citigroup lowered their price objective on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Raymond James Financial lowered their price objective on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research note on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, Select Water Solutions presently has a consensus rating of "Buy" and an average target price of $14.88.

Select Water Solutions Company 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.

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