SG Americas Securities LLC Sells 38,634 Shares of Select Water Solutions, Inc. $WTTR

SG Americas Securities LLC cut its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 62.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,568 shares of the company’s stock after selling 38,634 shares during the period. SG Americas Securities LLC’s holdings in Select Water Solutions were worth $361,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WTTR. Wilmington Savings Fund Society FSB bought a new stake in Select Water Solutions during the 3rd quarter worth $29,000. Osaic Holdings Inc. raised its position in Select Water Solutions by 59.9% in 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 during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of 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 grew its holdings in shares of 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 worth $75,000 after purchasing an additional 6,980 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of 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 worth $77,000 after purchasing an additional 5,847 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Richard Alan Burnett sold 45,316 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the sale, the director directly owned 71,578 shares in the company, valued at $1,341,371.72. This represents a 38.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Skarke sold 20,000 shares of Select Water Solutions stock in a transaction dated Tuesday, May 12th. The stock was 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 directly owned 360,738 shares of the company’s stock, valued at approximately $6,413,921.64. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is owned by corporate insiders.

Select Water Solutions Price Performance

Shares of WTTR opened at $19.18 on Friday. The business has a 50-day moving average of $18.50 and a 200-day moving average of $15.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 91.36 and a beta of 0.98. Select Water Solutions, Inc. has a 1 year low of $7.86 and a 1 year high of $20.48.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $365.96 million for the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.08 earnings per share. As a group, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were paid 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 of this dividend was Thursday, April 30th. Select Water Solutions’s dividend payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen downgraded Select Water Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Citigroup boosted their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Raymond James Financial restated a “strong-buy” rating and issued a $24.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Bank of America assumed coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 price target for the company. One research 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

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.