Corigliano Investment Advisers LLC Grows Stock Holdings in Select Water Solutions, Inc. $WTTR

Key Points

• Corigliano Investment Advisers LLC increased its stake in Select Water Solutions, Inc. by 9.4%, owning 464,747 shares worth approximately $4.88 million, making it the 21st largest position in their portfolio.
• Institutional investors hold 81.73% of Select Water Solutions' stock, demonstrating strong interest in the company's performance and future prospects.
• Analysts have set a consensus rating of "Buy" for the stock, with recent price targets ranging from $14.00 to $16.00 as of May 2023.

Corigliano Investment Advisers LLC boosted its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 464,747 shares of the company's stock after purchasing an additional 39,993 shares during the quarter. Select Water Solutions comprises about 2.2% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 21st largest position. Corigliano Investment Advisers LLC owned about 0.39% of Select Water Solutions worth $4,880,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WTTR. State of Wyoming raised its stake in shares of Select Water Solutions by 34.1% in the first quarter. State of Wyoming now owns 5,932 shares of the company's stock valued at $62,000 after acquiring an additional 1,509 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of 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 acquiring an additional 1,525 shares during the period. CoreCommodity Management LLC raised its stake in shares of Select Water Solutions by 1.6% in the fourth quarter. CoreCommodity Management LLC now owns 100,860 shares of the company's stock valued at $1,335,000 after acquiring an additional 1,544 shares during the period. Principal Financial Group Inc. raised its stake in shares of Select Water Solutions by 3.9% in the first quarter. Principal Financial Group Inc. now owns 48,603 shares of the company's stock valued at $510,000 after acquiring an additional 1,822 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Select Water Solutions by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,865 shares of the company's stock valued at $687,000 after acquiring an additional 1,891 shares during the period. Hedge funds and other institutional investors own 81.73% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler began coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $15.00.

Select Water Solutions Stock Up 0.1%

Select Water Solutions stock traded up $0.01 during midday trading on Tuesday, hitting $8.57. 729,528 shares of the company's stock were exchanged, compared to its average volume of 1,220,602. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 2.01. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $15.14. The firm has a 50-day moving average of $8.89 and a two-hundred day moving average of $9.07. The company has a market cap of $1.04 billion, a PE ratio of 27.63 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $0.13 earnings per share. The firm's revenue was down .3% on a year-over-year basis. As a group, analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, August 5th. Select Water Solutions's dividend payout ratio is presently 90.32%.

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.