Victory Capital Management Inc. Sells 236,606 Shares of Select Water Solutions, Inc. $WTTR

Victory Capital Management Inc. trimmed its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,646,499 shares of the company’s stock after selling 236,606 shares during the period. Victory Capital Management Inc. owned about 3.01% of Select Water Solutions worth $38,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Select Water Solutions by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,297,344 shares of the company’s stock valued at $67,319,000 after purchasing an additional 15,800 shares during the period. American Century Companies Inc. boosted its stake 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 worth $41,687,000 after purchasing an additional 238,898 shares during the period. Deprince Race & Zollo Inc. grew its holdings in Select Water Solutions by 1,334.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock valued at $40,450,000 after buying an additional 3,520,091 shares in the last quarter. Royce & Associates LP raised its position in shares of Select Water Solutions by 14.0% during the third 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 during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Select Water Solutions by 2.3% during the second quarter. Geode Capital Management LLC now owns 2,226,680 shares of the company’s stock valued at $19,241,000 after buying an additional 49,631 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Stock Down 1.5%

NYSE WTTR opened at $13.82 on Friday. The stock has a 50 day moving average price of $12.33 and a 200-day moving average price of $10.98. Select Water Solutions, Inc. has a one year low of $7.20 and a one year 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 company has a market capitalization of $1.68 billion, a P/E ratio of 65.81 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.21). The business 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 company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) EPS. As a group, equities analysts predict that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

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

Insider Buying and Selling at Select Water Solutions

In other news, CEO John Schmitz sold 33,916 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.03, for a total transaction of $441,925.48. Following the sale, the chief executive officer directly owned 249,243 shares in the company, valued at approximately $3,247,636.29. This represents a 11.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.