Deprince Race & Zollo Inc. Reduces Stock Position in Select Water Solutions, Inc. $WTTR

Deprince Race & Zollo Inc. cut its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,517,163 shares of the company’s stock after selling 131,902 shares during the quarter. Select Water Solutions accounts for about 1.0% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 26th largest holding. Deprince Race & Zollo Inc. owned 2.90% of Select Water Solutions worth $53,813,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cinctive Capital Management LP grew its position in Select Water Solutions by 55.7% in the 3rd quarter. Cinctive Capital Management LP now owns 623,285 shares of the company’s stock worth $6,663,000 after purchasing an additional 222,849 shares during the period. Penn Capital Management Company LLC lifted its holdings in shares of Select Water Solutions by 12.2% during the 3rd quarter. Penn Capital Management Company LLC now owns 1,179,161 shares of the company’s stock valued at $12,618,000 after buying an additional 128,257 shares during the period. Gabelli Funds LLC boosted its stake in shares of Select Water Solutions by 91.9% in the 3rd quarter. Gabelli Funds LLC now owns 325,209 shares of the company’s stock worth $3,476,000 after buying an additional 155,703 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Select Water Solutions in the 4th quarter worth $1,557,000. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Select Water Solutions by 176.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 299,129 shares of the company’s stock worth $3,147,000 after acquiring an additional 191,086 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WTTR shares. Citigroup upped their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Piper Sandler boosted their price target on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Wall Street Zen cut shares of Select Water Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Bank of America assumed coverage on shares of Select Water Solutions in a report on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Select Water Solutions currently has a consensus rating of “Buy” and a consensus target price of $22.40.

Insider Activity

In other news, COO Michael Skarke sold 90,000 shares of the 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 completion of the sale, the chief operating officer directly owned 380,738 shares of the company’s stock, valued at $6,590,574.78. This represents a 19.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction on Friday, May 8th. The shares were sold at an average price of $16.80, for a total transaction of $453,768.00. Following the transaction, the director owned 43,315 shares in the company, valued at approximately $727,692. This trade represents a 38.41% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 222,010 shares of company stock valued at $3,925,971. Company insiders own 6.20% of the company’s stock.

Select Water Solutions Stock Down 5.1%

NYSE WTTR opened at $18.95 on Thursday. Select Water Solutions, Inc. has a 52 week low of $7.86 and a 52 week high of $20.48. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.62 billion, a P/E ratio of 90.26 and a beta of 0.97. The stock’s 50-day moving average price is $18.25 and its 200-day moving average price is $14.83.

Select Water Solutions (NYSE:WTTR) last announced 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 company had revenue of $365.96 million during the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS. On average, equities research analysts predict that Select Water Solutions, Inc. will post 0.45 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, April 30th. Select Water Solutions’s dividend payout ratio is presently 133.33%.

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.