Wellington Management Group LLP Increases Holdings in Select Water Solutions, Inc. $WTTR

Key Points

• Wellington Management Group LLP increased its holdings in Select Water Solutions, Inc. by 7.8%, acquiring 293,784 additional shares to reach a total of 4,070,293 shares worth approximately $42.7 million.
• Select Water Solutions reported a quarterly earnings EPS of $0.10, falling short of analysts' expectations, despite a revenue of $364.22 million for the quarter.
• The company announced a quarterly dividend of $0.07, representing an annual yield of 3.3%, with a dividend payout ratio currently at 90.32%.

Wellington Management Group LLP lifted its position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,070,293 shares of the company's stock after purchasing an additional 293,784 shares during the period. Wellington Management Group LLP owned about 3.41% of Select Water Solutions worth $42,738,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Select Water Solutions by 128.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock worth $36,000 after purchasing an additional 1,525 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Select Water Solutions during the first quarter worth about $113,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Select Water Solutions during the first quarter worth about $123,000. Cetera Investment Advisers acquired a new stake in shares of Select Water Solutions during the fourth quarter worth about $134,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Select Water Solutions during the fourth quarter worth about $154,000. Institutional investors and hedge funds own 81.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WTTR shares. Raymond James Financial dropped their price target on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock 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 issued an "overweight" rating and a $15.00 price target on the stock. Finally, Citigroup dropped 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 investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, Select Water Solutions presently has a consensus rating of "Buy" and an average target price of $15.00.

Select Water Solutions Stock Performance

WTTR traded up $0.16 during 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 company's fifty day moving average price is $8.92 and its 200-day moving average price is $9.29. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 27.56 and a beta of 1.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 2.01.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $364.22 million for 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%.Select Water Solutions's revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. On average, equities analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 3.3%. Select Water Solutions's payout ratio is 90.32%.

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.