Gabelli Funds LLC Has $3.48 Million Holdings in Select Water Solutions, Inc. $WTTR

Gabelli Funds LLC raised its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 91.9% in the third quarter, HoldingsChannel reports. The fund owned 325,209 shares of the company’s stock after acquiring an additional 155,703 shares during the period. Gabelli Funds LLC’s holdings in Select Water Solutions were worth $3,476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Gamco Investors INC. ET AL increased its stake in shares of Select Water Solutions by 108.8% during the third quarter. Gamco Investors INC. ET AL now owns 43,182 shares of the company’s stock worth $462,000 after purchasing an additional 22,504 shares during the period. Legato Capital Management LLC boosted its stake in Select Water Solutions by 1.7% in the 3rd quarter. Legato Capital Management LLC now owns 97,358 shares of the company’s stock valued at $1,041,000 after purchasing an additional 1,587 shares during the period. Royce & Associates LP grew its holdings in Select Water Solutions by 14.0% in the 3rd quarter. Royce & Associates LP now owns 2,304,058 shares of the company’s stock valued at $24,630,000 after buying an additional 283,315 shares in the last quarter. American Century Companies Inc. grew its holdings in Select Water Solutions by 6.5% in the 3rd quarter. American Century Companies Inc. now owns 3,899,603 shares of the company’s stock valued at $41,687,000 after buying an additional 238,898 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in Select Water Solutions by 61.2% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,121 shares of the company’s stock worth $140,000 after buying an additional 4,981 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

NYSE:WTTR opened at $13.88 on Wednesday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 66.07 and a beta of 0.98. Select Water Solutions, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $15.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.57. The stock has a fifty day moving average price of $12.46 and a 200-day moving average price of $11.08.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). The company had revenue of $346.50 million during the quarter, compared to the consensus estimate of $320.85 million. Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.02) EPS. As a group, equities analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Friday, February 6th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, February 6th. Select Water Solutions’s dividend payout ratio (DPR) is currently 133.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their target price on Select Water Solutions from $15.00 to $16.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Piper Sandler raised their price target on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Friday, January 9th. Wall Street Zen raised shares of Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Northland Securities upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $16.63.

Insider Buying and Selling

In other Select Water Solutions news, CEO John Schmitz sold 33,916 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.03, for a total value of $441,925.48. Following the transaction, the chief executive officer directly owned 249,243 shares of the company’s stock, valued at $3,247,636.29. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.60% of the stock is currently owned by corporate insiders.

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.