Select Water Solutions, Inc. $WTTR Shares Acquired by NewEdge Advisors LLC

Key Points

• NewEdge Advisors dramatically increased its Select Water Solutions stake by purchasing 223,026 shares in the first quarter, bringing its holdings to 223,128 shares valued at approximately $3.4 million. Institutional investors collectively own 81.73% of WTTR.
• Select Water Solutions reported quarterly earnings of $0.17 per share, exceeding the $0.13 analyst consensus, while revenue rose 8.7% year over year to $395.81 million. The company also declared a quarterly dividend of $0.07 per share, yielding about 1.3% annually.
• WTTR shares opened at $21.13, near their 12-month high of $22.55. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $22.80, although one director recently sold 45,316 shares.

NewEdge Advisors LLC increased its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 218,652.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,128 shares of the company's stock after purchasing an additional 223,026 shares during the quarter. NewEdge Advisors LLC owned approximately 0.16% of Select Water Solutions worth $3,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in WTTR. Wilmington Savings Fund Society FSB acquired a new stake in shares of Select Water Solutions during the 3rd quarter worth about $29,000. Osaic Holdings Inc. grew its holdings in shares of Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock worth $42,000 after buying an additional 1,830 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Select Water Solutions by 2,704.0% in the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock valued at $60,000 after buying an additional 5,408 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock valued at $75,000 after buying an additional 6,980 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Select Water Solutions by 190.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company's stock valued at $77,000 after buying an additional 5,847 shares during the period. Institutional investors and hedge funds own 81.73% of the company's stock.

Insiders Place Their Bets

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $18.74, for a total value of $849,221.84. Following the completion of the transaction, the director owned 71,578 shares in the company, valued at $1,341,371.72. This represents a 38.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is currently owned by corporate insiders.

Select Water Solutions Stock Up 0.1%

Shares of NYSE WTTR opened at $21.13 on Thursday. The stock has a fifty day moving average price of $19.21 and a 200 day moving average price of $16.62. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. Select Water Solutions, Inc. has a 12-month low of $7.86 and a 12-month high of $22.55. The company has a market cap of $2.92 billion, a P/E ratio of 75.46 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. Select Water Solutions had a return on equity of 3.22% and a net margin of 2.24%.The company had revenue of $395.81 million for the quarter, compared to analysts' expectations of $373.33 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The firm's quarterly revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Select Water Solutions, Inc. will post 0.56 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.3%. Select Water Solutions's payout ratio is 100.00%.

Analyst Upgrades and Downgrades

WTTR has been the subject of several analyst reports. Piper Sandler upped their target price on Select Water Solutions from $16.00 to $21.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Raymond James Financial cut Select Water Solutions from a "strong-buy" rating to an "outperform" rating and lifted their price target for the company from $24.00 to $26.00 in a report on Thursday, August 6th. Zacks Research downgraded shares of Select Water Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Select Water Solutions in a report on Monday, July 6th. Finally, Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.80.

About Select Water Solutions

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company's offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.

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