Corigliano Investment Advisers LLC Increases Stock Position 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 raised its stake in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 464,747 shares of the company's stock after purchasing an additional 39,993 shares during the quarter. Select Water Solutions accounts for 2.2% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 21st biggest holding. Corigliano Investment Advisers LLC owned about 0.39% of Select Water Solutions worth $4,880,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming boosted its holdings in Select Water Solutions by 34.1% during the first quarter. State of Wyoming now owns 5,932 shares of the company's stock worth $62,000 after buying an additional 1,509 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Select Water Solutions by 128.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock worth $36,000 after purchasing an additional 1,525 shares in the last quarter. CoreCommodity Management LLC grew its holdings in 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 purchasing an additional 1,544 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Select Water Solutions by 3.9% during the 1st quarter. Principal Financial Group Inc. now owns 48,603 shares of the company's stock worth $510,000 after buying an additional 1,822 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Select Water Solutions by 3.8% in the 4th 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 last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WTTR shares. Piper Sandler assumed coverage on shares of Select Water Solutions in a research note on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price objective for the company. Citigroup dropped their price target 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. One 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, Select Water Solutions currently has a consensus rating of "Buy" and a consensus target price of $15.00.

Select Water Solutions Trading Up 1.8%

Shares of Select Water Solutions stock traded up $0.16 during trading hours on Monday, reaching $8.55. 1,373,358 shares of the company's stock were exchanged, compared to its average volume of 1,223,656. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.14. The company has a fifty day moving average of $8.89 and a 200-day moving average of $9.09. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 27.56 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The business had revenue of $364.22 million during the quarter, compared to analysts' expectations of $362.93 million. During the same period in the prior year, the firm earned $0.13 EPS. Select Water Solutions's revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend 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.