Swiss National Bank Grows Holdings in Select Water Solutions, Inc. $WTTR

Swiss National Bank raised its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 19.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 223,100 shares of the company’s stock after purchasing an additional 36,700 shares during the quarter. Swiss National Bank owned 0.18% of Select Water Solutions worth $3,413,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Select Water Solutions in the 4th quarter worth about $1,557,000. UBS Group AG lifted its holdings in Select Water Solutions by 46.0% during the 4th quarter. UBS Group AG now owns 230,614 shares of the company’s stock valued at $2,426,000 after buying an additional 72,613 shares in the last quarter. Needham Investment Management LLC boosted its position in Select Water Solutions by 34.8% in the 4th quarter. Needham Investment Management LLC now owns 775,000 shares of the company’s stock valued at $8,153,000 after buying an additional 200,000 shares during the period. Systematic Financial Management LP boosted its position in Select Water Solutions by 3.9% in the 4th quarter. Systematic Financial Management LP now owns 1,374,163 shares of the company’s stock valued at $14,456,000 after buying an additional 52,182 shares during the period. Finally, Perigon Wealth Management LLC bought a new position in Select Water Solutions in the 4th quarter worth about $443,000. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Trading Down 0.9%

NYSE:WTTR opened at $17.85 on Thursday. The firm has a 50-day simple moving average of $18.98 and a 200-day simple moving average of $16.04. Select Water Solutions, Inc. has a one year low of $7.86 and a one year high of $21.67. The firm has a market cap of $2.47 billion, a P/E ratio of 84.98 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. Equities analysts anticipate that Select Water Solutions, Inc. will post 0.46 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WTTR. Bank of America initiated coverage on shares of Select Water Solutions in a research report on Friday, May 29th. They set a “buy” rating and a $22.00 target price on the stock. Piper Sandler increased their price objective on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Northland Securities set a $21.00 price objective on Select Water Solutions in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Select Water Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $22.40.

Insider Buying and Selling

In related news, CAO Brian Szymanski sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the sale, the chief accounting officer owned 114,752 shares of the company’s stock, valued at $1,955,374.08. This trade represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Skarke sold 20,000 shares of Select Water Solutions stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total value of $355,600.00. Following the completion of the transaction, the chief operating officer owned 360,738 shares in the company, valued at $6,413,921.64. This trade represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,010 shares of company stock worth $3,925,971 over the last quarter. Insiders own 6.20% of the company’s stock.

Select Water Solutions Company 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.