Stanley Laman Group Ltd. Boosts Stake in Select Water Solutions, Inc. $WTTR

Key Points

• Stanley Laman Group Ltd. increased its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 14.1%, acquiring a total of 378,774 shares, valued at approximately $3.27 million.
• Major institutional investors, including Vanguard Group Inc. and American Century Companies Inc., have also raised their positions in Select Water Solutions, collectively owning over 81% of the company's stock.
• Despite a revenue of $364.22 million for the quarter, Select Water Solutions missed earnings expectations with an EPS of $0.10, falling short of the forecasted $0.13.

Stanley Laman Group Ltd. boosted its position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 14.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 378,774 shares of the company's stock after purchasing an additional 46,862 shares during the period. Stanley Laman Group Ltd. owned about 0.32% of Select Water Solutions worth $3,273,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WTTR. Vanguard Group Inc. increased its holdings in shares of Select Water Solutions by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company's stock worth $66,769,000 after buying an additional 488,443 shares during the last quarter. Wellington Management Group LLP raised its holdings in Select Water Solutions by 7.8% in the 1st quarter. Wellington Management Group LLP now owns 4,070,293 shares of the company's stock worth $42,738,000 after purchasing an additional 293,784 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Select Water Solutions by 6.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,953,648 shares of the company's stock worth $41,513,000 after acquiring an additional 229,736 shares in the last quarter. American Century Companies Inc. raised its holdings in Select Water Solutions by 10.8% in the first quarter. American Century Companies Inc. now owns 3,518,256 shares of the company's stock worth $36,942,000 after purchasing an additional 343,581 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in Select Water Solutions by 2.1% during the first quarter. Royce & Associates LP now owns 1,784,043 shares of the company's stock worth $18,732,000 after acquiring an additional 36,032 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company's stock.

Analyst Upgrades and Downgrades

WTTR has been the subject of several recent analyst reports. Piper Sandler assumed coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 target price for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Select Water Solutions in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Select Water Solutions currently has an average rating of "Buy" and a consensus price target of $15.00.

Select Water Solutions Stock Up 0.4%

NYSE:WTTR opened at $10.86 on Friday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 35.02 and a beta of 1.24. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. Select Water Solutions, Inc. has a twelve month low of $7.20 and a twelve month high of $15.14. The stock has a fifty day simple moving average of $9.40 and a 200-day simple moving average of $9.01.

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

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, August 5th. Select Water Solutions's dividend payout ratio (DPR) is presently 90.32%.

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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