First Trust Advisors LP Acquires 1,226,061 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

First Trust Advisors LP grew its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,828,596 shares of the company's stock after acquiring an additional 1,226,061 shares during the period. First Trust Advisors LP owned about 5.72% of Select Water Solutions worth $90,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of WTTR. Parkside Financial Bank & Trust boosted its position in shares of Select Water Solutions by 24.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company's stock worth $67,000 after purchasing an additional 1,007 shares during the period. Amundi boosted its holdings in Select Water Solutions by 83.8% in the 4th quarter. Amundi now owns 9,010 shares of the company's stock worth $119,000 after buying an additional 4,109 shares during the period. Summit Investment Advisors Inc. increased its stake in Select Water Solutions by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company's stock worth $126,000 after buying an additional 1,143 shares in the last quarter. Truist Financial Corp bought a new stake in Select Water Solutions during the fourth quarter valued at about $134,000. Finally, Atria Investments Inc bought a new position in shares of Select Water Solutions in the fourth quarter worth about $134,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Select Water Solutions Price Performance

Shares of Select Water Solutions stock traded down $0.03 during trading on Friday, reaching $8.83. 559,095 shares of the stock traded hands, compared to its average volume of 1,097,315. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.65 and a quick ratio of 1.62. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 29.43 and a beta of 1.51. Select Water Solutions, Inc. has a 52-week low of $7.58 and a 52-week high of $15.14. The business has a fifty day simple moving average of $9.88 and a two-hundred day simple moving average of $11.98.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.14). Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. The firm had revenue of $349.05 million for the quarter, compared to analysts' expectations of $333.62 million. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.07 per share. The ex-dividend date is Tuesday, May 6th. This represents a $0.28 annualized dividend and a yield of 3.17%. Select Water Solutions's payout ratio is currently 93.33%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO John Schmitz sold 73,450 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $13.03, for a total value of $957,053.50. Following the completion of the sale, the chief executive officer now owns 2,825,128 shares in the company, valued at approximately $36,811,417.84. This trade represents a 2.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.40% of the company's stock.

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.