Select Water Solutions, Inc. (NYSE:WTTR) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,603 shares of the company’s stock after acquiring an additional 1,822 shares during the quarter. Principal Financial Group Inc.’s holdings in Select Water Solutions were worth $510,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Tower Research Capital LLC TRC grew its position in Select Water Solutions by 128.6% in 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 during the last quarter. Amundi grew its position in 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 buying an additional 4,109 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Select Water Solutions in the 1st quarter valued at $123,000. Summit Investment Advisors Inc. grew its position in 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 buying an additional 1,143 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in Select Water Solutions in the 4th quarter valued at $134,000. 81.73% of the stock is owned by institutional investors and hedge funds.

Select Water Solutions Stock Performance

NYSE:WTTR opened at $9.45 on Monday. The company has a quick ratio of 1.67, a current ratio of 1.83 and a debt-to-equity ratio of 0.27. Select Water Solutions, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $15.14. The stock has a market cap of $1.14 billion, a PE ratio of 27.79 and a beta of 1.20. The firm’s fifty day simple moving average is $8.85 and its 200-day simple moving average is $10.23.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Select Water Solutions had a net margin of 2.42% and a return on equity of 3.96%. The business had revenue of $374.38 million for the quarter, compared to analysts’ expectations of $360.78 million. During the same period in the prior year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were given a $0.07 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.28 annualized dividend and a dividend yield of 2.96%. Select Water Solutions’s dividend payout ratio is presently 82.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James Financial lowered their price objective on shares of Select Water Solutions from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 9th. Citigroup decreased their target price on shares of Select Water Solutions from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Finally, Piper Sandler began coverage on shares of Select Water Solutions in a research note on Tuesday, July 15th. They set an “overweight” rating and a $15.00 price target on the stock. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.88.

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.