Meros Investment Management LP Has $9.89 Million Stock Holdings in Select Water Solutions, Inc. $WTTR

Meros Investment Management LP raised its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 4.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 939,857 shares of the company’s stock after acquiring an additional 39,471 shares during the period. Select Water Solutions makes up 3.9% of Meros Investment Management LP’s holdings, making the stock its 6th biggest holding. Meros Investment Management LP’s holdings in Select Water Solutions were worth $9,887,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Select Water Solutions in the 3rd quarter worth about $29,000. Osaic Holdings Inc. increased its position in shares of Select Water Solutions by 59.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after purchasing an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Select Water Solutions by 2,704.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after buying an additional 5,408 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after buying an additional 6,980 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Select Water Solutions by 190.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after buying an additional 5,847 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WTTR shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Wall Street Zen downgraded shares of Select Water Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Bank of America started coverage on shares of Select Water Solutions in a research report on Friday, May 29th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Zacks Research raised shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $22.40.

Insider Activity at Select Water Solutions

In other news, CAO Brian Szymanski sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the sale, the chief accounting officer directly owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. This represents a 14.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robin H. Fielder sold 27,010 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the sale, the director directly owned 43,315 shares of the company’s stock, valued at approximately $727,692. This represents a 38.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is currently owned by insiders.

Select Water Solutions Trading Down 2.4%

Select Water Solutions stock opened at $18.46 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $17.38 and a two-hundred day moving average price of $14.16. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 87.90 and a beta of 1.00. Select Water Solutions, Inc. has a 52-week low of $7.86 and a 52-week high of $20.48.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm 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 was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.38 earnings per share for the current year.

Select Water Solutions Announces Dividend

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

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.