Paradigm Capital Management Inc. NY Acquires Shares of 174,900 Select Water Solutions, Inc. $WTTR

Paradigm Capital Management Inc. NY acquired a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 174,900 shares of the company’s stock, valued at approximately $8,838,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WTTR. Franklin Resources Inc. lifted its position in shares of Select Water Solutions by 56.4% during the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after purchasing an additional 2,786,172 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Select Water Solutions by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company’s stock valued at $100,220,000 after buying an additional 185,821 shares during the last quarter. Wellington Management Group LLP raised its stake in Select Water Solutions by 16.0% during the third quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock valued at $54,802,000 after buying an additional 705,612 shares in the last quarter. State Street Corp raised its stake in Select Water Solutions by 15.1% during the fourth quarter. State Street Corp now owns 3,246,517 shares of the company’s stock valued at $34,153,000 after buying an additional 426,822 shares in the last quarter. Finally, Encompass Capital Advisors LLC lifted its holdings in Select Water Solutions by 31.5% during the 4th quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock worth $32,810,000 after buying an additional 746,534 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WTTR has been the subject of several research reports. Northland Securities set a $21.00 target price on Select Water Solutions in a research report on Thursday, May 7th. Zacks Research cut Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. assumed coverage on shares of Select Water Solutions in a report on Friday. They issued an “overweight” rating and a $24.00 price objective for the company. Citigroup boosted their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Select Water Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Select Water Solutions Stock Down 2.5%

NYSE:WTTR opened at $19.22 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $19.51 and a 200-day moving average of $17.10. The firm has a market capitalization of $2.66 billion, a PE ratio of 68.64 and a beta of 0.99. Select Water Solutions, Inc. has a 52 week low of $8.16 and a 52 week high of $22.55.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%.The business had revenue of $395.81 million for the quarter, compared to the consensus estimate of $373.33 million. During the same quarter last year, the business posted $0.10 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Analysts predict that Select Water Solutions, Inc. will post 0.56 EPS for the current year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.5%. Select Water Solutions’s dividend payout ratio (DPR) is currently 100.00%.

About Select Water Solutions

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.