Select Water Solutions, Inc. $WTTR Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 218,652.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 223,128 shares of the company’s stock after purchasing an additional 223,026 shares during the period. NewEdge Advisors LLC’s holdings in Select Water Solutions were worth $3,414,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Royal Bank of Canada grew its position in shares of Select Water Solutions by 10.1% during the first quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock worth $5,582,000 after buying an additional 48,896 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Select Water Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock valued at $569,000 after acquiring an additional 2,356 shares in the last quarter. Millennium Management LLC raised its holdings in Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after acquiring an additional 802,833 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after acquiring an additional 6,980 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after acquiring an additional 576,660 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

Select Water Solutions stock opened at $21.13 on Thursday. 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 12 month low of $7.86 and a 12 month high of $22.55. The company has a fifty day moving average price of $19.21 and a two-hundred day moving average price of $16.62. The company has a market cap of $2.92 billion, a PE ratio of 75.46 and a beta of 0.99.

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

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 7th. Select Water Solutions’s dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

Several research analysts have weighed in on WTTR shares. Raymond James Financial lowered shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $24.00 to $26.00 in a report on Thursday, August 6th. Zacks Research cut shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Citigroup boosted their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Piper Sandler upped their price objective on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Select Water Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

Insiders Place Their Bets

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction dated 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 $1,341,371.72. This trade represents a 38.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.20% of the stock is currently owned by company 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.