Fort Washington Investment Advisors Inc. OH Takes Position in Select Water Solutions, Inc. $WTTR

Fort Washington Investment Advisors Inc. OH bought a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) during the first quarter, HoldingsChannel reports. The fund bought 56,961 shares of the company’s stock, valued at approximately $872,000.

A number of other institutional investors have also modified their holdings of WTTR. Wilmington Savings Fund Society FSB purchased a new stake in Select Water Solutions in the 3rd quarter valued at $29,000. Osaic Holdings Inc. grew its position in Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after purchasing an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Select Water Solutions by 2,704.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock worth $60,000 after purchasing an additional 5,408 shares during the last quarter. 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 period. Finally, Tower Research Capital LLC TRC increased its stake in Select Water Solutions by 190.5% in the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after purchasing an additional 5,847 shares during the period. 81.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the transaction, the director owned 71,578 shares in the company, valued at approximately $1,341,371.72. The trade was a 38.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Skarke sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total value of $355,600.00. Following 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. Insiders have sold 222,010 shares of company stock worth $3,925,971 in the last three months. 6.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Piper Sandler raised their price target on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Bank of America assumed coverage on Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Zacks Research raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $22.40.

Select Water Solutions Stock Down 0.1%

Shares of Select Water Solutions stock opened at $19.65 on Tuesday. The company has a market cap of $2.71 billion, a P/E ratio of 93.55 and a beta of 1.00. 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, Inc. has a one year low of $7.86 and a one year high of $20.48. The firm has a fifty day moving average of $18.07 and a two-hundred day moving average of $14.71.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share 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 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 business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. On average, analysts forecast that Select Water Solutions, Inc. will post 0.38 earnings per share for the current year.

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were given a $0.07 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. Select Water Solutions’s dividend payout ratio (DPR) is presently 133.33%.

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.