Wellington Management Group LLP Sells 127,786 Shares of Select Water Solutions, Inc. $WTTR

Key Points

• Wellington Management reduced its Select Water Solutions stake by 3.2%, selling 127,786 shares during the second quarter while retaining 3.86 million shares valued at approximately $77 million. Institutional investors and hedge funds collectively own 81.73% of WTTR.
• Select Water Solutions exceeded quarterly expectations, reporting $0.17 in adjusted EPS versus a $0.13 consensus estimate and revenue of $395.81 million, up 8.7% year over year. The company also maintains a $0.07 quarterly dividend, equal to a 1.4% annualized yield.
• Analyst sentiment remains positive, with six Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $23, compared with the stock’s reported price of $19.83.

Wellington Management Group LLP cut its holdings in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 3.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,855,291 shares of the company's stock after selling 127,786 shares during the period. Wellington Management Group LLP owned 2.78% of Select Water Solutions worth $77,029,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WTTR. Public Employees Retirement System of Ohio acquired a new position in shares of Select Water Solutions during the second quarter valued at about $54,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Select Water Solutions in the 3rd quarter valued at $29,000. Osaic Holdings Inc. grew its stake in Select Water Solutions by 59.9% during the second 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. CIBC Private Wealth Group LLC increased its holdings in Select Water Solutions by 2,704.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock valued at $60,000 after purchasing an additional 5,408 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock valued at $75,000 after buying an additional 6,980 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Stock Performance

WTTR opened at $19.83 on Thursday. The business has a 50 day moving average of $19.69 and a 200-day moving average of $17.44. Select Water Solutions, Inc. has a 12-month low of $8.23 and a 12-month high of $22.55. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 70.82 and a beta of 1.01. The company has a quick ratio of 1.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The firm had revenue of $395.81 million for the quarter, compared to the consensus estimate of $373.33 million. During the same period in the previous year, the company earned $0.10 earnings per share. The company's quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Select Water Solutions, Inc. will post 0.59 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 7th. Select Water Solutions's dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup raised their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Bank of America began coverage on shares of Select Water Solutions in a research report on Friday, May 29th. They issued a "buy" rating and a $22.00 price target on the stock. TD Cowen lowered Select Water Solutions to a "neutral" rating in a report on Friday, August 21st. JPMorgan Chase & Co. initiated coverage on shares of Select Water Solutions in a report on Friday, August 21st. They issued an "overweight" rating and a $24.00 price target for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Select Water Solutions in a research report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Select Water Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

About Select Water Solutions

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.

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