Avidian Wealth Enterprises LLC Lowers Stock Holdings in Select Water Solutions, Inc. $WTTR

Avidian Wealth Enterprises LLC lowered its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 27.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,998 shares of the company’s stock after selling 7,500 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Select Water Solutions were worth $173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Select Water Solutions by 8.3% in the first quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company’s stock valued at $66,769,000 after purchasing an additional 488,443 shares during the period. Wellington Management Group LLP grew its holdings in Select Water Solutions by 7.8% in the 1st quarter. Wellington Management Group LLP now owns 4,070,293 shares of the company’s stock valued at $42,738,000 after buying an additional 293,784 shares during the period. Victory Capital Management Inc. grew its holdings in Select Water Solutions by 6.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,953,648 shares of the company’s stock valued at $41,513,000 after buying an additional 229,736 shares during the period. American Century Companies Inc. grew its holdings in Select Water Solutions by 10.8% in the 1st quarter. American Century Companies Inc. now owns 3,518,256 shares of the company’s stock valued at $36,942,000 after buying an additional 343,581 shares during the period. Finally, Royce & Associates LP grew its holdings in Select Water Solutions by 2.1% in the 1st quarter. Royce & Associates LP now owns 1,784,043 shares of the company’s stock valued at $18,732,000 after buying an additional 36,032 shares during the period. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Select Water Solutions Stock Up 2.6%

Shares of NYSE:WTTR opened at $11.75 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 2.01. Select Water Solutions, Inc. has a 1 year low of $7.20 and a 1 year high of $15.14. The stock has a market capitalization of $1.42 billion, a P/E ratio of 37.89 and a beta of 1.24. The stock has a 50-day simple moving average of $9.66 and a 200-day simple moving average of $9.07.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.The firm had revenue of $364.22 million for the quarter, compared to analysts’ expectations of $362.93 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WTTR. Piper Sandler began coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They issued an “overweight” rating and a $15.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.00.

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.