Royce & Associates LP Reduces Holdings in Select Water Solutions, Inc. $WTTR

Royce & Associates LP trimmed its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,206,744 shares of the company’s stock after selling 97,314 shares during the period. Royce & Associates LP’s holdings in Select Water Solutions were worth $23,215,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Select Water Solutions by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,297,344 shares of the company’s stock valued at $67,319,000 after buying an additional 15,800 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Select Water Solutions by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock valued at $54,802,000 after buying an additional 705,612 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Select Water Solutions by 78.1% in the 3rd quarter. Franklin Resources Inc. now owns 4,939,877 shares of the company’s stock valued at $52,807,000 after buying an additional 2,166,649 shares during the last quarter. American Century Companies Inc. grew its position in shares of Select Water Solutions by 6.5% in the 3rd quarter. American Century Companies Inc. now owns 3,899,603 shares of the company’s stock valued at $41,687,000 after buying an additional 238,898 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Select Water Solutions by 2,133.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock valued at $22,783,000 after buying an additional 2,035,870 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 71,578 shares in the company, valued at approximately $1,341,371.72. This trade represents a 38.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robin H. Fielder sold 27,010 shares of the firm’s stock in a transaction 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 sale, the director owned 43,315 shares of the company’s stock, valued at $727,692. This trade represents a 38.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,010 shares of company stock worth $3,925,971 over the last quarter. Insiders own 6.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WTTR. Piper Sandler raised their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Select Water Solutions has an average rating of “Buy” and an average target price of $22.50.

Select Water Solutions Trading Down 0.1%

Shares of Select Water Solutions stock opened at $19.27 on Wednesday. Select Water Solutions, Inc. has a 1 year low of $7.86 and a 1 year high of $20.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The company has a market capitalization of $2.66 billion, a P/E ratio of 91.76 and a beta of 0.99. The company’s fifty day moving average is $16.36 and its two-hundred day moving average is $13.34.

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

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders 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.