Teacher Retirement System of Texas Lowers Stake in Select Water Solutions, Inc. (NYSE:WTTR)

Teacher Retirement System of Texas cut its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 57.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,562 shares of the company’s stock after selling 18,017 shares during the quarter. Teacher Retirement System of Texas’ holdings in Select Water Solutions were worth $142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in shares of Select Water Solutions by 128.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock worth $36,000 after buying an additional 1,525 shares during the last quarter. Amundi increased its stake in shares of Select Water Solutions by 83.8% in the fourth quarter. Amundi now owns 9,010 shares of the company’s stock worth $119,000 after buying an additional 4,109 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Select Water Solutions by 13.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock worth $126,000 after buying an additional 1,143 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Select Water Solutions in the fourth quarter worth $134,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Select Water Solutions in the fourth quarter worth $154,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Select Water Solutions Price Performance

Shares of NYSE WTTR opened at $9.45 on Monday. Select Water Solutions, Inc. has a twelve month low of $7.20 and a twelve month high of $15.14. The company has a current ratio of 1.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 27.79 and a beta of 1.20. The firm has a 50-day moving average of $8.85 and a two-hundred day moving average of $10.23.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate 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 company had revenue of $374.38 million during the quarter, compared to analysts’ expectations of $360.78 million. During the same period last year, the company posted $0.04 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on WTTR. 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 target price for the company. Citigroup lowered their target price on shares of Select Water Solutions from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Finally, Raymond James Financial lowered their target price on shares of 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. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Select Water Solutions has a consensus rating of “Buy” and an average target price of $14.88.

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.