Select Water Solutions, Inc. $WTTR Shares Acquired by Needham Investment Management LLC

Needham Investment Management LLC lifted its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 34.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 775,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Needham Investment Management LLC’s holdings in Select Water Solutions were worth $8,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Barclays PLC raised its position 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 acquiring an additional 857 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Select Water Solutions by 8.4% during the 4th quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock worth $182,000 after acquiring an additional 1,336 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Select Water Solutions by 2.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock worth $686,000 after acquiring an additional 1,541 shares in the last quarter. Legato Capital Management LLC raised its position in shares of Select Water Solutions by 1.7% during the 3rd quarter. Legato Capital Management LLC now owns 97,358 shares of the company’s stock worth $1,041,000 after acquiring an additional 1,587 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after acquiring an additional 1,830 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Insider Buying and Selling

In other Select Water Solutions news, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $16.80, for a total value of $453,768.00. Following the transaction, the director directly owned 43,315 shares in the company, valued at approximately $727,692. This trade represents a 38.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Skarke sold 90,000 shares of Select Water Solutions stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.31, for a total value of $1,557,900.00. Following the completion of the transaction, the chief operating officer owned 380,738 shares in the company, valued at $6,590,574.78. This trade represents a 19.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 222,010 shares of company stock valued at $3,925,971. Company insiders own 6.20% of the company’s stock.

Analyst Upgrades and Downgrades

WTTR has been the topic of several research analyst reports. Piper Sandler raised their target price 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. Raymond James Financial reissued a “strong-buy” rating and set a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Northland Securities set a $21.00 price target on Select Water Solutions in a research note on Thursday, May 7th. Finally, Bank of America began coverage on Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 price target on the stock. Two 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 company’s stock. Based on data from MarketBeat.com, Select Water Solutions has an average rating of “Buy” and an average price target of $22.40.

Select Water Solutions Trading Down 2.4%

NYSE:WTTR opened at $18.46 on Tuesday. The stock’s 50 day moving average price is $17.38 and its 200 day moving average price is $14.16. The company has a market capitalization of $2.55 billion, a PE ratio of 87.90 and a beta of 1.00. 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, Inc. has a 52-week low of $7.86 and a 52-week high of $20.48.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results 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 firm had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. On average, research analysts anticipate that Select Water Solutions, Inc. will post 0.38 EPS for the current year.

Select Water Solutions Dividend Announcement

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

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.