Select Water Solutions, Inc. $WTTR Shares Purchased by Wellington Management Group LLP

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 increased 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 buying an additional 293,784 shares during the period. Wellington Management Group LLP owned 3.41% of Select Water Solutions worth $42,738,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 488,443 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Select Water Solutions by 6.2% during the first quarter. Victory Capital Management Inc. now owns 3,953,648 shares of the company's stock valued at $41,513,000 after purchasing an additional 229,736 shares in the last quarter. American Century Companies Inc. lifted its holdings in Select Water Solutions by 10.8% during the first quarter. American Century Companies Inc. now owns 3,518,256 shares of the company's stock valued at $36,942,000 after purchasing an additional 343,581 shares in the last quarter. Royce & Associates LP lifted its holdings in Select Water Solutions by 2.1% during the first quarter. Royce & Associates LP now owns 1,784,043 shares of the company's stock valued at $18,732,000 after purchasing an additional 36,032 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in Select Water Solutions by 12.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,071,701 shares of the company's stock valued at $14,189,000 after purchasing an additional 116,020 shares in the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WTTR shares. Piper Sandler started coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price objective on the stock. Raymond James Financial decreased their price objective on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a report on Friday, May 9th. Finally, Citigroup decreased their price objective on shares of Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. One equities 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.com, the company presently has an average rating of "Buy" and an average target price of $15.00.

Select Water Solutions Price Performance

Shares of NYSE WTTR traded up $0.09 during mid-day trading on Friday, reaching $8.48. The company's stock had a trading volume of 291,341 shares, compared to its average volume of 1,218,464. The stock has a 50-day moving average of $8.93 and a two-hundred day moving average of $9.32. The stock has a market capitalization of $1.03 billion, a P/E ratio of 27.37 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, Inc. has a 1-year low of $7.20 and a 1-year high of $15.14.

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

Select Water Solutions Announces Dividend

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

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.