Select Water Solutions, Inc. $WTTR Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 58.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 37,235 shares of the company’s stock after selling 51,604 shares during the period. Envestnet Asset Management Inc.’s holdings in Select Water Solutions were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers grew its holdings in Select Water Solutions by 90.9% during the first quarter. Cetera Investment Advisers now owns 19,296 shares of the company’s stock worth $203,000 after acquiring an additional 9,188 shares during the period. XTX Topco Ltd acquired a new stake in shares of Select Water Solutions during the 1st quarter worth approximately $218,000. Jefferies Financial Group Inc. acquired a new stake in shares of Select Water Solutions during the 1st quarter worth approximately $690,000. Horizon Family Wealth Inc. increased its holdings in shares of Select Water Solutions by 14.0% during the 1st quarter. Horizon Family Wealth Inc. now owns 21,173 shares of the company’s stock valued at $222,000 after purchasing an additional 2,599 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Select Water Solutions by 8.3% in the 1st 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. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Insider Buying and Selling

In other Select Water Solutions news, CEO John Schmitz sold 152,173 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $11.04, for a total value of $1,679,989.92. Following the transaction, the chief executive officer owned 39,646 shares in the company, valued at approximately $437,691.84. This trade represents a 79.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.40% of the company’s stock.

Analyst Ratings Changes

WTTR has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Select Water Solutions from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Raymond James Financial reissued a “strong-buy” rating and set a $16.00 target price on shares of Select Water Solutions in a research note on Wednesday, November 5th. Northland Capmk lowered Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Northland Securities cut Select Water Solutions from an “outperform” rating to a “market perform” rating and set a $12.00 price target for the company. in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Select Water Solutions presently has an average rating of “Moderate Buy” and an average target price of $14.25.

Select Water Solutions Stock Down 0.2%

WTTR opened at $9.99 on Friday. The company has a market cap of $1.21 billion, a PE ratio of 52.58 and a beta of 1.18. Select Water Solutions, Inc. has a twelve month low of $7.20 and a twelve month high of $15.14. The company has a 50-day moving average price of $10.73 and a 200 day moving average price of $9.49. The company has a quick ratio of 1.48, a current ratio of 1.64 and a debt-to-equity ratio of 0.31.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Select Water Solutions had a return on equity of 2.26% and a net margin of 1.41%.The company had revenue of $322.24 million for the quarter, compared to analysts’ expectations of $306.39 million. During the same period in the previous year, the firm posted $0.15 EPS. Select Water Solutions’s revenue was down 13.2% compared to the same quarter last year. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, November 7th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, November 7th. Select Water Solutions’s payout ratio is presently 147.37%.

Select Water Solutions Company Profile

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.