Legato Capital Management LLC Lowers Stake in Select Water Solutions, Inc. $WTTR

Legato Capital Management LLC lowered its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 55.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,859 shares of the company’s stock after selling 53,499 shares during the quarter. Legato Capital Management LLC’s holdings in Select Water Solutions were worth $461,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WTTR. Wilmington Savings Fund Society FSB purchased a new position in Select Water Solutions during the third quarter valued at approximately $29,000. Osaic Holdings Inc. lifted its holdings in Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after purchasing an additional 1,830 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Select Water Solutions by 2,704.0% during the third 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. Jones Financial Companies Lllp lifted its holdings in Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after purchasing an additional 6,980 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Select Water Solutions by 190.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after purchasing an additional 5,847 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Insider Activity at Select Water Solutions

In other news, COO Michael Skarke sold 90,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $17.31, for a total value of $1,557,900.00. Following the transaction, the chief operating officer owned 380,738 shares of the company’s stock, valued at approximately $6,590,574.78. The trade was a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robin H. Fielder sold 27,010 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the transaction, the director directly owned 43,315 shares in the company, valued at $727,692. This trade represents a 38.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 222,010 shares of company stock worth $3,925,971 over the last ninety days. 6.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Zacks Research raised shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday. Piper Sandler lifted their price target on shares of Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $24.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $22.50.

Select Water Solutions Price Performance

WTTR stock opened at $18.64 on Thursday. Select Water Solutions, Inc. has a one year low of $7.86 and a one year high of $20.48. The company’s fifty day moving average price is $16.45 and its 200-day moving average price is $13.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The company has a market capitalization of $2.57 billion, a PE ratio of 88.75 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The firm had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Select Water Solutions, Inc. will post 0.29 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, April 30th. Select Water Solutions’s payout ratio is 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.