Select Water Solutions, Inc. (NYSE:WTTR) Shares Acquired by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lifted its position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 142.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 112,850 shares of the company's stock after buying an additional 66,380 shares during the period. Pier 88 Investment Partners LLC owned approximately 0.09% of Select Water Solutions worth $1,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its stake in Select Water Solutions by 128.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock valued at $36,000 after purchasing an additional 1,525 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in Select Water Solutions in the first quarter valued at about $113,000. Cambridge Investment Research Advisors Inc. purchased a new position in Select Water Solutions in the first quarter valued at about $123,000. Summit Investment Advisors Inc. boosted its stake in shares of Select Water Solutions by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company's stock worth $126,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of Select Water Solutions during the 4th quarter worth about $134,000. 81.73% of the stock is owned by institutional investors and hedge funds.

Select Water Solutions Price Performance

Shares of NYSE:WTTR traded up $0.11 during trading on Tuesday, hitting $9.49. 154,797 shares of the company were exchanged, compared to its average volume of 1,094,213. The company has a market capitalization of $1.14 billion, a P/E ratio of 27.84 and a beta of 1.20. Select Water Solutions, Inc. has a 1-year low of $7.20 and a 1-year high of $15.14. The business's 50 day moving average is $8.85 and its 200-day moving average is $10.23. The company has a quick ratio of 1.67, a current ratio of 1.83 and a debt-to-equity ratio of 0.27.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. Select Water Solutions had a net margin of 2.42% and a return on equity of 3.96%. The business had revenue of $374.38 million for the quarter, compared to analysts' expectations of $360.78 million. During the same quarter in the previous year, the firm posted $0.04 EPS. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were issued a $0.07 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.28 dividend on an annualized basis and a yield of 2.95%. Select Water Solutions's dividend payout ratio is currently 82.35%.

Analyst Ratings Changes

Several equities analysts recently commented on WTTR shares. Citigroup cut their target price on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Piper Sandler began coverage on shares of Select Water Solutions in a research report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 target price for the company. Finally, Raymond James Financial cut their price target on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a report on Friday, May 9th. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $14.88.

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.

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