Select Water Solutions, Inc. (NYSE:WTTR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 21.5% in the 4th quarter, Holdings Channel reports. The firm owned 673,467 shares of the company’s stock after selling 184,832 shares during the period. Bank of New York Mellon Corp’s holdings in Select Water Solutions were worth $8,917,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new stake in Select Water Solutions in the 4th quarter valued at approximately $342,000. Ieq Capital LLC acquired a new position in shares of Select Water Solutions in the fourth quarter worth $188,000. New York State Common Retirement Fund grew its stake in shares of Select Water Solutions by 277.8% in the fourth quarter. New York State Common Retirement Fund now owns 421,754 shares of the company’s stock worth $5,584,000 after acquiring an additional 310,125 shares in the last quarter. Truist Financial Corp acquired a new position in shares of Select Water Solutions in the fourth quarter worth $134,000. Finally, Principal Financial Group Inc. grew its stake in shares of Select Water Solutions by 7.9% in the fourth quarter. Principal Financial Group Inc. now owns 46,781 shares of the company’s stock worth $619,000 after acquiring an additional 3,412 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 73,450 shares of Select Water Solutions stock in a transaction on Friday, February 14th. The shares were sold at an average price of $13.03, for a total transaction of $957,053.50. Following the completion of the sale, the chief executive officer now directly owns 2,825,128 shares of the company’s stock, valued at approximately $36,811,417.84. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup boosted their price target on shares of Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, January 10th.

Select Water Solutions Stock Performance

NYSE:WTTR opened at $9.64 on Friday. The company has a fifty day simple moving average of $12.64 and a two-hundred day simple moving average of $12.42. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 32.12 and a beta of 1.77. The company has a quick ratio of 1.62, a current ratio of 1.65 and a debt-to-equity ratio of 0.09. Select Water Solutions, Inc. has a 52 week low of $8.60 and a 52 week high of $15.14.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.14). The firm had revenue of $349.05 million for the quarter, compared to analysts’ expectations of $333.62 million. Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. As a group, equities analysts anticipate that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.28 annualized dividend and a dividend yield of 2.91%. Select Water Solutions’s dividend payout ratio (DPR) is currently 93.33%.

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.