Villanova Investment Management Co LLC Reduces Holdings in Select Water Solutions, Inc. $WTTR

Key Points

• Villanova Investment Management Co LLC reduced its stake in Select Water Solutions, Inc. by 61.7%, selling 124,489 shares during the first quarter and now holds 77,191 shares valued at approximately $811,000.
• Other institutional investors, including Goldman Sachs Group Inc. and Millennium Management LLC, have increased their positions in Select Water Solutions, reflecting interest in the stock.
• Select Water Solutions reported earnings of $0.10 per share, missing the consensus estimate, while also announcing a quarterly dividend of $0.07 per share with a 3.2% yield.

Villanova Investment Management Co LLC decreased its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 61.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,191 shares of the company's stock after selling 124,489 shares during the quarter. Select Water Solutions comprises 2.3% of Villanova Investment Management Co LLC's holdings, making the stock its 12th biggest position. Villanova Investment Management Co LLC owned approximately 0.06% of Select Water Solutions worth $811,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WTTR. EVR Research LP acquired a new position in shares of Select Water Solutions in the first quarter valued at about $9,660,000. Millennium Management LLC lifted its holdings in Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company's stock valued at $10,236,000 after acquiring an additional 802,833 shares during the period. Goldman Sachs Group Inc. boosted its position in Select Water Solutions by 90.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company's stock worth $12,726,000 after purchasing an additional 576,660 shares in the last quarter. Vanguard Group Inc. grew its position in Select Water Solutions by 8.3% during the first quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company's stock valued at $66,769,000 after buying an additional 488,443 shares during the period. Finally, Penn Capital Management Company LLC increased its holdings in Select Water Solutions by 93.2% in the first quarter. Penn Capital Management Company LLC now owns 839,007 shares of the company's stock valued at $8,819,000 after buying an additional 404,669 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company's stock.

Select Water Solutions Trading Up 5.3%

Shares of WTTR stock opened at $8.86 on Thursday. The company's 50-day moving average price is $8.88 and its 200-day moving average price is $9.06. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 28.57 and a beta of 1.26. 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.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $364.22 million during the quarter, compared to analysts' expectations of $362.93 million. Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.The company's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, equities analysts predict that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.28 dividend on an annualized basis and a yield of 3.2%. Select Water Solutions's payout ratio is presently 90.32%.

Wall Street Analyst Weigh In

Separately, 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 target price on the stock. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Select Water Solutions 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.

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