UBS Group AG Grows Stake in Select Water Solutions, Inc. $WTTR

Key Points

• UBS Group AG boosted its stake in Select Water Solutions by 46% in the fourth quarter, adding 72,613 shares to bring its total holdings to 230,614 shares worth about $2.43 million.
• Select Water Solutions reported better-than-expected quarterly results, posting EPS of $0.08 versus estimates of $0.06 and revenue of $365.96 million versus $344.63 million expected.
• Analyst sentiment remains constructive, with an average rating of “Buy” and a consensus price target of $22.50, while the stock recently traded near $19.27.

UBS Group AG increased its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 46.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 230,614 shares of the company's stock after purchasing an additional 72,613 shares during the period. UBS Group AG owned 0.19% of Select Water Solutions worth $2,426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cinctive Capital Management LP raised its holdings in shares of Select Water Solutions by 55.7% during the third quarter. Cinctive Capital Management LP now owns 623,285 shares of the company's stock valued at $6,663,000 after acquiring an additional 222,849 shares during the last quarter. Penn Capital Management Company LLC boosted its stake in shares of Select Water Solutions by 12.2% in the third quarter. Penn Capital Management Company LLC now owns 1,179,161 shares of the company's stock worth $12,618,000 after acquiring an additional 128,257 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Select Water Solutions by 91.9% in the third quarter. Gabelli Funds LLC now owns 325,209 shares of the company's stock worth $3,476,000 after acquiring an additional 155,703 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Select Water Solutions during the third quarter worth approximately $1,604,000. Finally, Wedge Capital Management L L P NC increased its position in shares of Select Water Solutions by 176.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 299,129 shares of the company's stock worth $3,147,000 after purchasing an additional 191,086 shares in the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Trading Down 0.1%

Shares of Select Water Solutions stock opened at $19.27 on Wednesday. The stock has a 50 day moving average of $16.36 and a 200 day moving average of $13.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 91.76 and a beta of 0.99. Select Water Solutions, Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $20.48.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. As a group, research analysts predict that Select Water Solutions, Inc. will post 0.29 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Select Water Solutions's dividend payout ratio is presently 133.33%.

Insider Activity at Select Water Solutions

In other news, CAO Brian Szymanski sold 20,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the sale, the chief accounting officer directly owned 114,752 shares of the company's stock, valued at approximately $1,955,374.08. The trade was a 14.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $849,221.84. Following the completion of the transaction, the director owned 71,578 shares in the company, valued at approximately $1,341,371.72. This represents a 38.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WTTR shares. Wall Street Zen upgraded Select Water Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Raymond James Financial reiterated a "strong-buy" rating and issued a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. Finally, Zacks Research raised shares of Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Select Water Solutions has an average rating of "Buy" and an average price target of $22.50.

Select Water Solutions Company Profile

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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