Vanguard Group Inc. Trims Position in Select Water Solutions, Inc. $WTTR

Key Points

• Vanguard Group reduced its stake in Select Water Solutions by 3.1% in the fourth quarter, though it still owned 6.1 million shares worth about $64.2 million, or 5.04% of the company.
• Select Water Solutions posted a stronger-than-expected quarter, with EPS of $0.08 topping estimates and revenue of $365.96 million beating analyst forecasts, even as revenue slipped 2.2% year over year.
• Analysts remain generally upbeat on the stock: the consensus rating is Buy with an average target price of $21.25, while several firms recently raised their price targets.

Vanguard Group Inc. cut its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,101,889 shares of the company's stock after selling 195,455 shares during the quarter. Vanguard Group Inc. owned 5.04% of Select Water Solutions worth $64,192,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co raised its position in Select Water Solutions by 2.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company's stock worth $686,000 after buying an additional 1,541 shares during the last quarter. Legato Capital Management LLC raised its position in Select Water Solutions by 1.7% during the 3rd quarter. Legato Capital Management LLC now owns 97,358 shares of the company's stock worth $1,041,000 after buying an additional 1,587 shares during the last quarter. Osaic Holdings Inc. raised its position in Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock worth $42,000 after buying an additional 1,830 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Select Water Solutions by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,812 shares of the company's stock worth $430,000 after buying an additional 2,046 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Select Water Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company's stock worth $569,000 after buying an additional 2,356 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, CAO Brian Szymanski sold 20,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $17.04, for a total value of $340,800.00. Following the transaction, the chief accounting officer owned 114,752 shares in the company, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robin H. Fielder sold 27,010 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the transaction, the director owned 43,315 shares in the company, valued at $727,692. The trade was a 38.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 157,010 shares of company stock worth $2,708,068. Corporate insiders own 6.20% of the company's stock.

Select Water Solutions Price Performance

Select Water Solutions stock opened at $18.60 on Friday. The company's fifty day moving average price is $15.48 and its 200 day moving average price is $12.90. Select Water Solutions, Inc. has a 1 year low of $7.82 and a 1 year high of $18.81. The stock has a market capitalization of $2.57 billion, a P/E ratio of 88.55 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.42 and a current ratio of 1.92.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The company 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 firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. As a group, equities research analysts anticipate that Select Water Solutions, Inc. will post 0.29 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were issued a $0.07 dividend. The ex-dividend date 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 (DPR) is presently 133.33%.

Analyst Ratings Changes

A number of research firms have issued reports on WTTR. Piper Sandler raised their price target on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Citigroup raised their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday. Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. One equities research analyst has 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $21.25.

Select Water Solutions 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.

Want to see what other hedge funds are holding WTTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Select Water Solutions, Inc. (NYSE:WTTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.