Invesco Ltd. Increases Stake in Select Water Solutions, Inc. $WTTR

Invesco Ltd. lifted its position in Select Water Solutions, Inc. (NYSE:WTTR) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 947,802 shares of the company’s stock after acquiring an additional 27,713 shares during the period. Invesco Ltd. owned 0.79% of Select Water Solutions worth $9,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Select Water Solutions in the 1st quarter valued at $123,000. Wealth Enhancement Advisory Services LLC acquired a new position in Select Water Solutions during the fourth quarter valued at $154,000. GAMMA Investing LLC lifted its position in Select Water Solutions by 766.8% during the first quarter. GAMMA Investing LLC now owns 36,015 shares of the company’s stock valued at $378,000 after purchasing an additional 31,860 shares during the period. New York State Common Retirement Fund boosted its holdings in Select Water Solutions by 57.6% in the first quarter. New York State Common Retirement Fund now owns 664,868 shares of the company’s stock valued at $6,981,000 after purchasing an additional 243,114 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in Select Water Solutions during the 1st quarter worth about $244,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on WTTR. Raymond James Financial lowered their target price on Select Water Solutions from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Friday, May 9th. Piper Sandler initiated coverage on Select Water Solutions in a report on Tuesday, July 15th. They issued an “overweight” rating and a $15.00 price target for the company. Finally, Citigroup dropped their price objective on shares of Select Water Solutions from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Select Water Solutions has an average rating of “Buy” and an average target price of $15.00.

Select Water Solutions Trading Up 4.9%

Shares of WTTR stock opened at $8.4460 on Monday. Select Water Solutions, Inc. has a 1-year low of $7.20 and a 1-year high of $15.14. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 27.25 and a beta of 1.26. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.82. The stock has a 50 day simple moving average of $9.01 and a 200-day simple moving average of $9.40.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The firm had revenue of $364.22 million for the quarter, compared to analyst estimates of $362.93 million. During the same period in the previous year, the company earned $0.13 EPS. Select Water Solutions’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, August 5th. Select Water Solutions’s payout ratio is currently 90.32%.

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.