Wedge Capital Management L L P NC Sells 49,657 Shares of Select Water Solutions, Inc. $WTTR

Wedge Capital Management L L P NC cut its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 18.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 216,560 shares of the company’s stock after selling 49,657 shares during the period. Wedge Capital Management L L P NC’s holdings in Select Water Solutions were worth $4,327,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Select Water Solutions in the 3rd quarter valued at approximately $29,000. Osaic Holdings Inc. raised its stake in Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after buying an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Select Water Solutions by 2,704.0% in the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after buying an additional 5,408 shares during the period. Jones Financial Companies Lllp lifted its holdings in Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after buying an additional 6,980 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Select Water Solutions by 190.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after acquiring an additional 5,847 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. Zacks Research lowered Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Piper Sandler raised their target price 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. Bank of America started coverage on Select Water Solutions in a report on Friday, May 29th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Citigroup boosted their price target on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.80.

Select Water Solutions Stock Down 4.0%

WTTR stock opened at $20.36 on Friday. The stock’s 50 day simple moving average is $19.24 and its 200 day simple moving average is $16.68. Select Water Solutions, Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $22.55. 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 cap of $2.81 billion, a P/E ratio of 72.70 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $395.81 million during the quarter, compared to analysts’ expectations of $373.33 million. Select Water Solutions had a return on equity of 3.22% and a net margin of 2.24%.The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. On average, research analysts expect that Select Water Solutions, Inc. will post 0.56 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. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.4%. Select Water Solutions’s dividend payout ratio (DPR) is presently 100.00%.

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.