Assenagon Asset Management S.A. Invests $3.09 Million in Select Water Solutions, Inc. $WTTR

Assenagon Asset Management S.A. bought a new stake in Select Water Solutions, Inc. (NYSE:WTTR) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 202,182 shares of the company’s stock, valued at approximately $3,093,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Select Water Solutions by 10.1% in the 1st quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock worth $5,582,000 after buying an additional 48,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 worth $569,000 after acquiring an additional 2,356 shares during the period. Millennium Management LLC raised its position in Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after acquiring an additional 802,833 shares during the period. Jones Financial Companies Lllp boosted 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 acquiring an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted 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 acquiring an additional 576,660 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Price Performance

WTTR opened at $20.05 on Wednesday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 95.48 and a beta of 1.00. 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 firm has a 50-day moving average price of $18.17 and a 200-day moving average price of $14.77. Select Water Solutions, Inc. has a twelve month low of $7.86 and a twelve month high of $20.48.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $365.96 million for the quarter, compared to analysts’ expectations of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. Select Water Solutions’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS. Equities analysts expect that Select Water Solutions, Inc. will post 0.38 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. Select Water Solutions’s payout ratio is presently 133.33%.

Wall Street Analysts Forecast Growth

WTTR has been the subject of several research analyst reports. Citigroup raised their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Piper Sandler upped their price objective 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. Zacks Research raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, May 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Finally, Northland Securities set a $21.00 target price on Select Water Solutions in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $22.40.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, CAO Brian Szymanski sold 20,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael Skarke sold 20,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 360,738 shares of the company’s stock, valued at $6,413,921.64. The trade was a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by insiders.

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.