King Luther Capital Management Corp Trims Stock Position in Select Water Solutions, Inc. (NYSE:WTTR)

King Luther Capital Management Corp lessened its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 55.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 152,000 shares of the company’s stock after selling 187,000 shares during the period. King Luther Capital Management Corp’s holdings in Select Water Solutions were worth $1,692,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in Select Water Solutions by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock valued at $32,000 after purchasing an additional 1,096 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Select Water Solutions in the second quarter valued at about $34,000. CWM LLC lifted its stake in Select Water Solutions by 55.2% in the second quarter. CWM LLC now owns 4,204 shares of the company’s stock worth $45,000 after acquiring an additional 1,496 shares during the period. New York State Teachers Retirement System grew its holdings in Select Water Solutions by 13.8% during the 3rd quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock worth $93,000 after acquiring an additional 1,010 shares in the last quarter. Finally, Creative Planning purchased a new position in Select Water Solutions during the 3rd quarter valued at about $112,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Wall Street Analyst Weigh In

WTTR has been the subject of several research reports. Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $11.50 to $14.50 in a research report on Thursday, August 22nd. Northland Capmk upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd.

Select Water Solutions Stock Performance

Shares of Select Water Solutions stock opened at $14.69 on Friday. The company has a market capitalization of $1.75 billion, a PE ratio of 24.90 and a beta of 1.67. The company has a 50-day simple moving average of $11.75 and a two-hundred day simple moving average of $11.05. Select Water Solutions, Inc. has a one year low of $6.99 and a one year high of $14.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.78.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The firm had revenue of $371.35 million during the quarter, compared to analyst estimates of $352.98 million. During the same quarter in the previous year, the business posted $0.14 EPS. Select Water Solutions’s revenue was down 4.6% on a year-over-year basis. Research analysts expect that Select Water Solutions, Inc. will post 0.4 EPS for the current fiscal year.

Select Water Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.07 dividend. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, November 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.91%. Select Water Solutions’s dividend payout ratio (DPR) is presently 47.46%.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.