Comerica Bank Cuts Stake in Select Water Solutions, Inc. (NYSE:WTTR)

Comerica Bank lessened its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,912 shares of the company’s stock after selling 3,797 shares during the quarter. Comerica Bank’s holdings in Select Water Solutions were worth $330,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in Select Water Solutions by 128.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock valued at $36,000 after buying an additional 1,525 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Select Water Solutions by 24.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock valued at $67,000 after purchasing an additional 1,007 shares during the last quarter. Amundi lifted its stake in shares of Select Water Solutions by 83.8% in the 4th quarter. Amundi now owns 9,010 shares of the company’s stock valued at $119,000 after purchasing an additional 4,109 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Select Water Solutions by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock valued at $126,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Atria Investments Inc bought a new stake in shares of Select Water Solutions in the 4th quarter valued at approximately $134,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Select Water Solutions Price Performance

Shares of WTTR stock opened at $8.56 on Friday. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The firm has a market capitalization of $1.02 billion, a P/E ratio of 28.52 and a beta of 1.28. The stock has a 50 day moving average price of $9.01 and a 200 day moving average price of $11.71.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. The firm had revenue of $374.38 million during the quarter, compared to analyst estimates of $360.78 million. During the same period last year, the company earned $0.04 EPS. Select Water Solutions’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Tuesday, May 6th. Select Water Solutions’s dividend payout ratio is currently 82.35%.

Wall Street Analysts Forecast Growth

WTTR has been the subject of several analyst reports. Citigroup lowered their price objective on Select Water Solutions from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday. Raymond James lowered their price objective on Select Water Solutions from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Friday, May 9th.

Select Water Solutions 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.