Fifth Third Bancorp Acquires New Position in Select Water Solutions, Inc. $WTTR

Fifth Third Bancorp bought a new position in Select Water Solutions, Inc. (NYSE:WTTR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 65,900 shares of the company’s stock, valued at approximately $1,008,000.

Several other institutional investors also recently bought and sold shares of WTTR. Royal Bank of Canada lifted its stake in shares of Select Water Solutions by 10.1% during the 1st quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock worth $5,582,000 after purchasing an additional 48,896 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Select Water Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock valued at $569,000 after purchasing an additional 2,356 shares during the period. Millennium Management LLC grew its position in shares of Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after purchasing an additional 802,833 shares during the period. Jones Financial Companies Lllp increased its stake in Select Water Solutions by 5,584.0% in 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 during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Select Water Solutions by 90.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after purchasing an additional 576,660 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Trading Down 3.2%

Shares of NYSE WTTR opened at $20.18 on Friday. Select Water Solutions, Inc. has a 12-month low of $7.86 and a 12-month high of $21.67. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 96.08 and a beta of 0.98. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $19.08 and its 200 day simple moving average is $15.86.

Select Water Solutions (NYSE:WTTR) last released its quarterly 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 business had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts expect that Select Water Solutions, Inc. will post 0.46 EPS for the current year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s payout ratio is currently 133.33%.

Insider Activity at Select Water Solutions

In related news, CAO Brian Szymanski sold 20,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the transaction, the chief accounting officer owned 114,752 shares in the company, valued at $1,955,374.08. This represents a 14.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard Alan Burnett sold 45,316 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the sale, the director owned 71,578 shares in the company, valued at $1,341,371.72. This trade represents a 38.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on WTTR shares. Northland Securities set a $21.00 price target on 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 research note on Saturday, July 18th. Citigroup increased their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. Finally, Bank of America initiated coverage on Select Water Solutions in a research report 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 assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

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.