Punch & Associates Investment Management Inc. Buys 27,704 Shares of Select Water Solutions, Inc. $WTTR

Punch & Associates Investment Management Inc. grew its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,528,895 shares of the company’s stock after buying an additional 27,704 shares during the quarter. Select Water Solutions makes up 1.3% of Punch & Associates Investment Management Inc.’s portfolio, making the stock its 22nd biggest holding. Punch & Associates Investment Management Inc. owned 1.11% of Select Water Solutions worth $23,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Select Water Solutions in the 1st quarter worth approximately $602,000. Gabelli Funds LLC lifted its holdings in Select Water Solutions by 1.7% during the first quarter. Gabelli Funds LLC now owns 337,484 shares of the company’s stock valued at $5,164,000 after purchasing an additional 5,525 shares in the last quarter. Sei Investments Co. lifted its holdings in Select Water Solutions by 100.0% during the first quarter. Sei Investments Co. now owns 422,854 shares of the company’s stock valued at $6,470,000 after purchasing an additional 211,421 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Select Water Solutions in the first quarter worth approximately $542,000. Finally, Cetera Investment Advisers increased its stake in shares of Select Water Solutions by 50.0% in the first quarter. Cetera Investment Advisers now owns 30,256 shares of the company’s stock worth $463,000 after purchasing an additional 10,090 shares in the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on WTTR shares. Citigroup upped their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Bank of America started coverage on Select Water Solutions in a research report on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective on the stock. Piper Sandler upped their price objective on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Zacks Research cut Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $24.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.40.

Select Water Solutions Price Performance

NYSE:WTTR opened at $20.18 on Friday. The business’s 50-day moving average is $19.08 and its 200 day moving average is $15.86. Select Water Solutions, Inc. has a 12 month low of $7.86 and a 12 month high of $21.67. The company has a market capitalization of $2.79 billion, a P/E ratio of 96.08 and a beta of 0.98. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, equities research analysts forecast that Select Water Solutions, Inc. will post 0.46 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s payout ratio is currently 133.33%.

Insider Buying and Selling at Select Water Solutions

In related news, Director Richard Alan Burnett sold 45,316 shares of the 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 completion of the transaction, the director owned 71,578 shares of the company’s stock, valued at approximately $1,341,371.72. This trade represents a 38.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Skarke sold 90,000 shares of Select Water Solutions stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.31, for a total value of $1,557,900.00. Following the completion of the transaction, the chief operating officer owned 380,738 shares of the company’s stock, valued at approximately $6,590,574.78. This represents a 19.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 222,010 shares of company stock worth $3,925,971 over the last three months. 6.20% of the stock is owned by company insiders.

Select Water Solutions Company Profile

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.