Raymond James Financial Inc. Acquires Shares of 192,006 Select Water Solutions, Inc. (NYSE:WTTR)

Raymond James Financial Inc. purchased a new stake in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 192,006 shares of the company's stock, valued at approximately $2,542,000. Raymond James Financial Inc. owned 0.16% of Select Water Solutions at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Parkside Financial Bank & Trust raised its position in Select Water Solutions by 24.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company's stock worth $67,000 after acquiring an additional 1,007 shares during the period. Amundi grew its holdings in Select Water Solutions by 83.8% in the 4th quarter. Amundi now owns 9,010 shares of the company's stock valued at $119,000 after buying an additional 4,109 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Select Water Solutions in the 4th quarter worth $134,000. Atria Investments Inc acquired a new position in shares of Select Water Solutions during the 4th quarter valued at about $134,000. Finally, James Investment Research Inc. purchased a new stake in shares of Select Water Solutions in the fourth quarter valued at about $137,000. Hedge funds and other institutional investors own 81.73% of the company's stock.

Select Water Solutions Stock Down 2.9 %

WTTR stock traded down $0.26 during midday trading on Monday, hitting $8.62. The company's stock had a trading volume of 292,897 shares, compared to its average volume of 1,369,117. Select Water Solutions, Inc. has a 52-week low of $7.58 and a 52-week high of $15.14. The firm has a 50-day simple moving average of $9.52 and a 200-day simple moving average of $11.90. The company has a quick ratio of 1.62, a current ratio of 1.65 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.03 billion, a P/E ratio of 28.74 and a beta of 1.28.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.14). Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The company had revenue of $349.05 million during the quarter, compared to analyst estimates of $333.62 million. As a group, equities analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, May 6th. Select Water Solutions's dividend payout ratio is presently 93.33%.

Insider Activity

In other news, CEO John Schmitz sold 26,550 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $13.16, for a total transaction of $349,398.00. Following the sale, the chief executive officer now owns 2,898,578 shares of the company's stock, valued at approximately $38,145,286.48. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.40% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their price objective on shares of Select Water Solutions from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, January 10th.

About Select Water Solutions

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.