Vanguard Group Inc. Has $66.77 Million Stock Holdings in 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. raised its holdings in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,358,953 shares of the company's stock after buying an additional 488,443 shares during the period. Vanguard Group Inc. owned 5.33% of Select Water Solutions worth $66,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Select Water Solutions by 128.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock valued at $36,000 after buying an additional 1,525 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Select Water Solutions during the 1st quarter worth about $113,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Select Water Solutions during the 1st quarter worth about $123,000. Cetera Investment Advisers bought a new stake in shares of Select Water Solutions during the 4th quarter worth about $134,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Select Water Solutions during the 4th quarter worth about $154,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Stock Performance

NYSE WTTR traded up $0.04 during trading on Friday, reaching $8.43. The company's stock had a trading volume of 248,862 shares, compared to its average volume of 1,217,403. 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 $1.02 billion, a price-to-earnings ratio of 27.18 and a beta of 1.26. 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 price of $8.93 and a 200 day moving average price of $9.32.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $364.22 million for the quarter, compared to the consensus estimate of $362.93 million. During the same period last year, the company posted $0.13 EPS. The business's revenue was down .3% on a year-over-year basis. As a group, equities analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently commented on WTTR. Raymond James Financial reduced their target price on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a report on Friday, May 9th. Piper Sandler began coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 target price for the company. Finally, Citigroup reduced their target price on shares of Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $15.00.

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.