Wedge Capital Management L L P NC Lowers Position in Select Water Solutions, Inc. (NYSE:WTTR)

Wedge Capital Management L L P NC lessened its position in Select Water Solutions, Inc. (NYSE:WTTR) by 9.1% in the third quarter, HoldingsChannel reports. The firm owned 95,750 shares of the company’s stock after selling 9,619 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Select Water Solutions were worth $1,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caxton Associates LP bought a new position in Select Water Solutions during the 1st quarter valued at approximately $495,000. Wellington Management Group LLP increased its position in Select Water Solutions by 3.2% during the 4th quarter. Wellington Management Group LLP now owns 4,699,066 shares of the company’s stock valued at $35,666,000 after buying an additional 145,714 shares in the last quarter. Vanguard Group Inc. increased its position in Select Water Solutions by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 5,619,256 shares of the company’s stock valued at $51,866,000 after buying an additional 188,347 shares in the last quarter. Empowered Funds LLC increased its position in Select Water Solutions by 129.6% during the 1st quarter. Empowered Funds LLC now owns 471,545 shares of the company’s stock valued at $4,352,000 after buying an additional 266,145 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Select Water Solutions during the 2nd quarter valued at approximately $635,000. Institutional investors own 81.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WTTR shares. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $11.50 to $14.50 in a research report on Thursday, August 22nd. Northland Capmk raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd.

Select Water Solutions Stock Up 2.5 %

Select Water Solutions stock opened at $11.33 on Thursday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 19.53 and a beta of 1.65. The stock has a fifty day simple moving average of $11.08 and a two-hundred day simple moving average of $10.52. Select Water Solutions, Inc. has a 12 month low of $6.78 and a 12 month high of $12.27. The company has a current ratio of 1.81, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, July 30th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $365.13 million during the quarter, compared to analyst estimates of $372.25 million. Select Water Solutions had a return on equity of 6.56% and a net margin of 3.91%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. Equities analysts predict that Select Water Solutions, Inc. will post 0.48 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $0.06 dividend. The ex-dividend date was Monday, August 5th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.12%. Select Water Solutions’s dividend payout ratio (DPR) is currently 41.38%.

Select Water Solutions Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.