Wedge Capital Management L L P NC Raises Holdings in Select Water Solutions, Inc. $WTTR

Wedge Capital Management L L P NC boosted its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 176.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,129 shares of the company’s stock after buying an additional 191,086 shares during the period. Wedge Capital Management L L P NC owned 0.25% of Select Water Solutions worth $3,147,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deprince Race & Zollo Inc. lifted its stake in shares of Select Water Solutions by 1,334.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock worth $40,450,000 after purchasing an additional 3,520,091 shares during the last quarter. Villanova Investment Management Co LLC lifted its position in shares of Select Water Solutions by 181.8% during the second quarter. Villanova Investment Management Co LLC now owns 217,519 shares of the company’s stock valued at $1,879,000 after buying an additional 140,328 shares during the last quarter. Cinctive Capital Management LP boosted its holdings in shares of Select Water Solutions by 55.7% in the 3rd quarter. Cinctive Capital Management LP now owns 623,285 shares of the company’s stock valued at $6,663,000 after buying an additional 222,849 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Select Water Solutions by 4.0% in the 2nd quarter. American Century Companies Inc. now owns 3,660,705 shares of the company’s stock worth $31,628,000 after purchasing an additional 142,449 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Select Water Solutions during the 2nd quarter worth $3,194,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 33,916 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.03, for a total transaction of $441,925.48. Following the sale, the chief executive officer owned 249,243 shares of the company’s stock, valued at approximately $3,247,636.29. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WTTR shares. Piper Sandler increased their price objective on Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a research note on Friday, January 9th. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a research report on Thursday, February 19th. Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Finally, Citigroup increased their price objective on shares of Select Water Solutions from $15.00 to $16.50 and gave the company a “buy” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $16.63.

Select Water Solutions Price Performance

NYSE:WTTR opened at $15.59 on Monday. Select Water Solutions, Inc. has a 52 week low of $7.20 and a 52 week high of $15.73. The stock’s fifty day moving average is $13.33 and its two-hundred day moving average is $11.65. The company has a market capitalization of $1.89 billion, a P/E ratio of 74.22 and a beta of 0.98. The company has a quick ratio of 1.42, a current ratio of 1.57 and a debt-to-equity ratio of 0.31.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. The company had revenue of $346.50 million for the quarter, compared to analyst estimates of $320.85 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Select Water Solutions’s revenue was down .7% on a year-over-year basis. Equities analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Friday, February 6th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, February 6th. Select Water Solutions’s payout ratio is currently 133.33%.

Select Water Solutions Profile

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.