Wellington Management Group LLP Sells 645,432 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Wellington Management Group LLP lessened its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 14.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,776,509 shares of the company’s stock after selling 645,432 shares during the period. Wellington Management Group LLP’s holdings in Select Water Solutions were worth $50,001,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Select Water Solutions by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,127,370 shares of the company’s stock valued at $23,683,000 after acquiring an additional 155,091 shares in the last quarter. Barclays PLC grew its holdings in shares of Select Water Solutions by 319.3% during the third quarter. Barclays PLC now owns 140,648 shares of the company’s stock worth $1,565,000 after purchasing an additional 107,107 shares during the last quarter. Swiss National Bank increased its stake in shares of Select Water Solutions by 0.8% in the fourth quarter. Swiss National Bank now owns 181,900 shares of the company’s stock valued at $2,408,000 after buying an additional 1,400 shares during the period. Principal Financial Group Inc. bought a new position in Select Water Solutions in the 3rd quarter valued at approximately $483,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Select Water Solutions during the 4th quarter worth approximately $203,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Select Water Solutions

In related news, CEO John Schmitz sold 73,450 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $13.03, for a total value of $957,053.50. Following the completion of the sale, the chief executive officer now directly owns 2,825,128 shares of the company’s stock, valued at approximately $36,811,417.84. This represents a 2.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Citigroup raised their price objective on Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 10th.

Select Water Solutions Trading Down 8.6 %

WTTR opened at $8.72 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of 29.05 and a beta of 1.51. The company has a fifty day moving average price of $11.45 and a two-hundred day moving average price of $12.33. The company has a current ratio of 1.65, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Select Water Solutions, Inc. has a 1-year low of $8.50 and a 1-year high of $15.14.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. The firm had revenue of $349.05 million for the quarter, compared to analyst estimates of $333.62 million. Analysts predict that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.21%. The ex-dividend date was Tuesday, February 4th. Select Water Solutions’s payout ratio is currently 93.33%.

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.