Wedge Capital Management L L P NC Sells 49,657 Shares of Select Water Solutions, Inc. $WTTR

Wedge Capital Management L L P NC reduced its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 18.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 216,560 shares of the company’s stock after selling 49,657 shares during the period. Wedge Capital Management L L P NC owned 0.16% of Select Water Solutions worth $4,327,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Select Water Solutions by 0.6% during the 4th quarter. Barclays PLC now owns 147,581 shares of the company’s stock worth $1,553,000 after buying an additional 857 shares during the period. Inspire Investing LLC lifted its position in Select Water Solutions by 1.9% during the fourth quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock worth $581,000 after acquiring an additional 1,023 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Select Water Solutions by 8.4% during the fourth quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock worth $182,000 after acquiring an additional 1,336 shares during the period. Quantinno Capital Management LP grew its position in shares of Select Water Solutions by 3.5% in the first quarter. Quantinno Capital Management LP now owns 42,180 shares of the company’s stock valued at $645,000 after purchasing an additional 1,438 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Select Water Solutions by 2.5% in the third quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock valued at $686,000 after purchasing an additional 1,541 shares during the last quarter. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Price Performance

Shares of NYSE WTTR opened at $20.36 on Friday. The business has a fifty day moving average price of $19.24 and a two-hundred day moving average price of $16.68. The stock has a market capitalization of $2.81 billion, a PE ratio of 72.70 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. Select Water Solutions, Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $22.55.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $395.81 million for the quarter, compared to analysts’ expectations of $373.33 million. Select Water Solutions had a return on equity of 3.22% and a net margin of 2.24%.Select Water Solutions’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. As a group, equities analysts predict that Select Water Solutions, Inc. will post 0.56 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 7th. Select Water Solutions’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Ratings Changes

WTTR has been the subject of several research reports. Raymond James Financial cut Select Water Solutions from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $24.00 to $26.00 in a report on Thursday, August 6th. Piper Sandler increased their price objective on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Northland Securities set a $21.00 target price on Select Water Solutions in a report on Thursday, May 7th. Citigroup upped their price target on shares of 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 upgraded shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.80.

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.