Vanguard Group Inc. Purchases 488,443 Shares of Select Water Solutions, Inc. $WTTR

Key Points

• Vanguard Group Inc. increased its stake in Select Water Solutions, acquiring an additional 488,443 shares, which elevates its ownership to 5.33% worth approximately $66.77 million.
• Recent analyst reports show mixed price targets for Select Water Solutions, with Raymond James decreasing its target from $19 to $16, and Citigroup lowering it from $18 to $14, suggesting caution amid changing market sentiments.
• Select Water Solutions announced a quarterly dividend of $0.07, representing a 3.4% yield, with a high payout ratio of 90.32% noted.

Vanguard Group Inc. increased its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,358,953 shares of the company's stock after buying an additional 488,443 shares during the quarter. Vanguard Group Inc. owned 5.33% of Select Water Solutions worth $66,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. lifted its position in shares of Select Water Solutions by 6.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,953,648 shares of the company's stock worth $41,513,000 after buying an additional 229,736 shares during the period. Royce & Associates LP lifted its position in shares of Select Water Solutions by 2.1% during the 1st quarter. Royce & Associates LP now owns 1,784,043 shares of the company's stock worth $18,732,000 after buying an additional 36,032 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Select Water Solutions by 12.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,071,701 shares of the company's stock worth $14,189,000 after buying an additional 116,020 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Select Water Solutions by 0.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 1,015,453 shares of the company's stock worth $10,662,000 after buying an additional 3,390 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Select Water Solutions by 11.1% during the 4th quarter. Northern Trust Corp now owns 866,760 shares of the company's stock worth $11,476,000 after buying an additional 86,274 shares during the period. Institutional investors own 81.73% of the company's stock.

Select Water Solutions Trading Up 1.8%

WTTR stock traded up $0.16 during midday trading on Friday, reaching $8.55. The company's stock had a trading volume of 1,262,418 shares, compared to its average volume of 1,029,821. Select Water Solutions, Inc. has a 52 week low of $7.20 and a 52 week high of $15.14. The stock has a market cap of $1.04 billion, a PE ratio of 27.56 and a beta of 1.26. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. The business's 50-day simple moving average is $8.92 and its 200-day simple moving average is $9.29.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (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 the consensus estimate of $362.93 million. During the same period in the previous year, the business posted $0.13 earnings per share. Select Water Solutions's revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, August 5th. Select Water Solutions's dividend payout ratio is presently 90.32%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Raymond James Financial cut their target price on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research report on Friday, May 9th. Piper Sandler started coverage on Select Water Solutions in a research report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price target on the stock. Finally, Citigroup decreased their price target on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat, Select Water Solutions currently has a consensus rating of "Buy" and a consensus target price of $15.00.

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.