Principal Financial Group Inc. Makes New Investment in Select Water Solutions, Inc. (NYSE:WTTR)

Principal Financial Group Inc. purchased a new stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 43,369 shares of the company’s stock, valued at approximately $483,000.

A number of other large investors have also recently made changes to their positions in WTTR. Victory Capital Management Inc. lifted its position in Select Water Solutions by 1,328.1% during the second quarter. Victory Capital Management Inc. now owns 3,770,505 shares of the company’s stock valued at $40,344,000 after purchasing an additional 3,506,479 shares during the period. American Century Companies Inc. raised its stake in Select Water Solutions by 87.3% during the 2nd quarter. American Century Companies Inc. now owns 1,910,065 shares of the company’s stock valued at $20,438,000 after buying an additional 890,470 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Select Water Solutions by 148.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company’s stock valued at $12,478,000 after buying an additional 669,301 shares during the period. Foundry Partners LLC bought a new position in shares of Select Water Solutions during the 2nd quarter valued at $5,134,000. Finally, Webs Creek Capital Management LP boosted its stake in shares of Select Water Solutions by 16.1% in the 1st quarter. Webs Creek Capital Management LP now owns 2,208,733 shares of the company’s stock worth $20,387,000 after buying an additional 306,547 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Select Water Solutions Trading Up 0.8 %

Shares of Select Water Solutions stock opened at $14.69 on Monday. Select Water Solutions, Inc. has a 1-year low of $6.99 and a 1-year high of $14.87. The company’s fifty day simple moving average is $11.83 and its 200-day simple moving average is $11.11. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62. The stock has a market capitalization of $1.75 billion, a PE ratio of 24.90 and a beta of 1.67.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. The business had revenue of $371.35 million during the quarter, compared to analyst estimates of $352.98 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Select Water Solutions’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities analysts anticipate that Select Water Solutions, Inc. will post 0.4 earnings per share for the current year.

Select Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.91%. This is a positive change from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, November 5th. Select Water Solutions’s dividend payout ratio is currently 47.46%.

About Select Water Solutions

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.