Assenagon Asset Management S.A. Sells 346,358 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Assenagon Asset Management S.A. cut its position in Select Water Solutions, Inc. (NYSE:WTTR) by 85.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,748 shares of the company’s stock after selling 346,358 shares during the quarter. Assenagon Asset Management S.A. owned about 0.05% of Select Water Solutions worth $639,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates bought a new position in shares of Select Water Solutions in the 4th quarter valued at about $340,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Select Water Solutions by 16.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,566 shares of the company’s stock worth $278,000 after purchasing an additional 5,140 shares during the period. Strs Ohio acquired a new position in Select Water Solutions during the fourth quarter worth approximately $505,000. Mackenzie Financial Corp raised its stake in Select Water Solutions by 15.2% in the fourth quarter. Mackenzie Financial Corp now owns 14,931 shares of the company’s stock valued at $113,000 after buying an additional 1,973 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Select Water Solutions by 28.7% in the fourth quarter. Russell Investments Group Ltd. now owns 124,293 shares of the company’s stock valued at $943,000 after buying an additional 27,704 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Stock Performance

WTTR opened at $11.32 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.81 and a quick ratio of 1.63. The business has a fifty day simple moving average of $10.84 and a 200 day simple moving average of $9.81. Select Water Solutions, Inc. has a 1 year low of $6.78 and a 1 year high of $12.27. The company has a market capitalization of $1.35 billion, a PE ratio of 17.42 and a beta of 1.69.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, July 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Select Water Solutions had a net margin of 3.91% and a return on equity of 6.56%. The company had revenue of $365.13 million during the quarter, compared to analysts’ expectations of $372.25 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. Select Water Solutions’s quarterly revenue was down 9.8% on a year-over-year basis. Research analysts expect that Select Water Solutions, Inc. will post 0.47 EPS for the current year.

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, August 5th. This represents a $0.24 annualized dividend and a dividend yield of 2.12%. Select Water Solutions’s dividend payout ratio is presently 36.92%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup upgraded Select Water Solutions from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Thursday, May 9th. Northland Capmk raised shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $11.50 to $14.50 in a report on Thursday.

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.