Punch & Associates Investment Management Inc. Sells 281,335 Shares of Select Water Solutions, Inc. $WTTR

Punch & Associates Investment Management Inc. lowered its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 15.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,501,191 shares of the company’s stock after selling 281,335 shares during the period. Punch & Associates Investment Management Inc. owned about 1.24% of Select Water Solutions worth $15,793,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WTTR. Franklin Resources Inc. lifted its stake in Select Water Solutions by 56.4% during the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after purchasing an additional 2,786,172 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Select Water Solutions by 2,133.9% during the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock worth $22,783,000 after purchasing an additional 2,035,870 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Select Water Solutions by 124.2% during the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after purchasing an additional 997,847 shares during the last quarter. Millennium Management LLC lifted its stake in Select Water Solutions by 466.8% during the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after purchasing an additional 802,833 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Select Water Solutions by 16.0% during the third quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock worth $54,802,000 after purchasing an additional 705,612 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Stock Down 1.7%

Shares of NYSE:WTTR opened at $18.14 on Wednesday. The stock’s 50-day moving average price is $17.43 and its 200-day moving average price is $14.22. Select Water Solutions, Inc. has a 12-month low of $7.86 and a 12-month high of $20.48. The stock has a market capitalization of $2.51 billion, a P/E ratio of 86.38 and a beta of 1.00. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $365.96 million during the quarter, compared to analyst estimates 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 for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. On average, equities analysts anticipate that Select Water Solutions, Inc. will post 0.38 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, April 30th. Select Water Solutions’s dividend payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WTTR shares. Piper Sandler raised 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. Bank of America started coverage on Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 price objective on the stock. Zacks Research raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 25th. Citigroup raised their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut Select Water Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.40.

Insider Activity

In other news, COO Michael Skarke sold 20,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total transaction of $355,600.00. Following the completion of the sale, the chief operating officer directly owned 360,738 shares in the company, valued at approximately $6,413,921.64. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brian Szymanski sold 20,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 222,010 shares of company stock valued at $3,925,971. Company insiders own 6.20% of the company’s stock.

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.