Northwest & Ethical Investments L.P. Has $423,000 Stake in Select Water Solutions, Inc. $WTTR

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Select Water Solutions by 343.6% in the first quarter, owning 40,367 shares worth $423,000.
• Several analysts have rated Select Water Solutions, with a consensus rating of "Buy" and a price target of $14.88, down from previous estimates of $18.00 and $19.00.
• The company recently declared a $0.07 quarterly dividend, representing an annualized yield of 3.5%, with a dividend payout ratio of 90.32%.

Northwest & Ethical Investments L.P. grew its holdings in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 343.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,367 shares of the company's stock after acquiring an additional 31,267 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Select Water Solutions were worth $423,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WTTR. Hood River Capital Management LLC bought a new stake in shares of Select Water Solutions in the fourth quarter worth about $7,274,000. Vanguard Group Inc. increased its holdings in shares of Select Water Solutions by 8.3% in the first quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company's stock worth $66,769,000 after acquiring an additional 488,443 shares in the last quarter. Penn Capital Management Company LLC bought a new position in shares of Select Water Solutions during the fourth quarter worth about $5,751,000. Corigliano Investment Advisers LLC bought a new position in shares of Select Water Solutions during the fourth quarter worth about $5,624,000. Finally, American Century Companies Inc. grew its holdings in shares of Select Water Solutions by 10.8% during the first quarter. American Century Companies Inc. now owns 3,518,256 shares of the company's stock worth $36,942,000 after buying an additional 343,581 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WTTR has been the subject of a number of research reports. Citigroup decreased their price objective on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Piper Sandler initiated coverage on Select Water Solutions in a report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price objective for the company. Finally, Raymond James Financial decreased their price objective on 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. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, Select Water Solutions has an average rating of "Buy" and an average price target of $15.00.

Select Water Solutions Stock Up 4.9%

WTTR stock traded up $0.3960 during mid-day trading on Friday, reaching $8.4460. The company had a trading volume of 1,014,944 shares, compared to its average volume of 1,031,695. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.82. The stock has a 50 day simple moving average of $9.01 and a two-hundred day simple moving average of $9.45. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 27.25 and a beta of 1.26. Select Water Solutions, Inc. has a 52 week low of $7.20 and a 52 week high of $15.14.

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 analysts' consensus estimates of $0.13 by ($0.03). The company had revenue of $364.22 million during the quarter, compared to the consensus estimate of $362.93 million. Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The firm's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, equities analysts predict 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 declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, August 5th. Select Water Solutions's dividend payout ratio (DPR) is currently 90.32%.

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.