Legato Capital Management LLC Sells 53,499 Shares of Select Water Solutions, Inc. $WTTR

Legato Capital Management LLC reduced its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 55.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,859 shares of the company’s stock after selling 53,499 shares during the quarter. Legato Capital Management LLC’s holdings in Select Water Solutions were worth $461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of Select Water Solutions by 78.1% in the third quarter. Franklin Resources Inc. now owns 4,939,877 shares of the company’s stock worth $52,807,000 after acquiring an additional 2,166,649 shares during the period. Alliancebernstein L.P. grew its stake in shares of Select Water Solutions by 2,133.9% in the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock worth $22,783,000 after acquiring an additional 2,035,870 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Select Water Solutions by 124.2% in the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after acquiring an additional 997,847 shares during the period. Millennium Management LLC grew its stake in shares of Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after acquiring an additional 802,833 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Select Water Solutions by 16.0% in the third quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock worth $54,802,000 after acquiring an additional 705,612 shares during the period. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Stock Performance

WTTR opened at $18.64 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 88.75 and a beta of 0.99. The company’s 50 day moving average is $16.45 and its 200 day moving average is $13.40. Select Water Solutions, Inc. has a 12-month low of $7.86 and a 12-month high of $20.48.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. On average, equities research analysts predict that Select Water Solutions, Inc. will post 0.29 EPS for the current year.

Select Water Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

WTTR has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Zacks Research upgraded shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Raymond James Financial reiterated a “strong-buy” rating and issued a $24.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Citigroup lifted their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $22.50.

Insider Buying and Selling at Select Water Solutions

In related news, Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the transaction, the director owned 71,578 shares of the company’s stock, valued at approximately $1,341,371.72. This trade represents a 38.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robin H. Fielder sold 27,010 shares of the firm’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 transaction, the director directly owned 43,315 shares in the company, valued at approximately $727,692. The trade was a 38.41% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by corporate insiders.

About Select Water Solutions

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.