Renaissance Technologies LLC Cuts Stock Position in Select Water Solutions, Inc. $WTTR

Renaissance Technologies LLC trimmed its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 14.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 403,461 shares of the company’s stock after selling 66,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Select Water Solutions were worth $6,173,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its stake in Select Water Solutions by 0.6% during the fourth quarter. Barclays PLC now owns 147,581 shares of the company’s stock worth $1,553,000 after purchasing an additional 857 shares during the period. Inspire Investing LLC boosted its stake in shares of Select Water Solutions by 1.9% in the fourth quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock valued at $581,000 after purchasing an additional 1,023 shares during the period. ProShare Advisors LLC grew its holdings in shares of Select Water Solutions by 8.4% in the fourth quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock valued at $182,000 after purchasing an additional 1,336 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings 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 in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Select Water Solutions by 10.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,699 shares of the company’s stock worth $186,000 after buying an additional 1,692 shares during the period. 81.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WTTR has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. Zacks Research downgraded shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Piper Sandler upped 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. Citigroup increased 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, Raymond James Financial reiterated a “strong-buy” rating and issued a $24.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

Insider Activity

In other Select Water Solutions news, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions 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 completion of the sale, the chief accounting officer directly owned 114,752 shares of the company’s stock, valued at $1,955,374.08. The trade was a 14.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Alan Burnett sold 45,316 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $18.74, for a total value of $849,221.84. Following the transaction, the director directly owned 71,578 shares of the company’s stock, valued at approximately $1,341,371.72. This represents a 38.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is currently owned by company insiders.

Select Water Solutions Stock Up 0.7%

Shares of NYSE:WTTR opened at $18.50 on Wednesday. The firm’s 50 day moving average price is $18.91 and its 200 day moving average price is $16.24. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 88.10 and a beta of 0.99. Select Water Solutions, Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $21.67. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The company had revenue of $395.81 million during the quarter, compared to analysts’ expectations of $373.33 million. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Select Water Solutions, Inc. will post 0.46 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Select Water Solutions’s payout ratio is 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.