American Century Companies Inc. Increases Stake in Select Water Solutions, Inc. $WTTR

American Century Companies Inc. raised its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,899,603 shares of the company’s stock after acquiring an additional 238,898 shares during the period. American Century Companies Inc. owned approximately 3.22% of Select Water Solutions worth $41,687,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WTTR. Creative Financial Designs Inc. ADV increased its position in Select Water Solutions by 61.2% during the third quarter. Creative Financial Designs Inc. ADV now owns 13,121 shares of the company’s stock valued at $140,000 after acquiring an additional 4,981 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new position in shares of Select Water Solutions during the third quarter worth approximately $127,000. Villanova Investment Management Co LLC lifted its holdings in shares of Select Water Solutions by 7.4% in the 3rd quarter. Villanova Investment Management Co LLC now owns 233,646 shares of the company’s stock worth $2,498,000 after buying an additional 16,127 shares during the period. Vanguard Group Inc. grew its position in shares of Select Water Solutions by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,297,344 shares of the company’s stock worth $67,319,000 after buying an additional 15,800 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. purchased a new position in Select Water Solutions during the 3rd quarter valued at about $1,604,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Insiders Place Their Bets

In related news, CEO John Schmitz sold 33,916 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $13.03, for a total value of $441,925.48. Following the completion of the sale, the chief executive officer directly owned 249,243 shares of the company’s stock, valued at $3,247,636.29. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.40% of the stock is currently owned by insiders.

Select Water Solutions Stock Down 1.5%

Shares of NYSE:WTTR opened at $13.82 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 65.81 and a beta of 0.98. The business has a 50-day moving average price of $12.33 and a 200 day moving average price of $10.96. Select Water Solutions, Inc. has a 12-month low of $7.20 and a 12-month high of $15.45.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. The firm had revenue of $346.50 million during the quarter, compared to analyst estimates of $320.85 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Friday, February 6th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, February 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. Select Water Solutions’s payout ratio is presently 133.33%.

Analyst Ratings Changes

Several brokerages have recently weighed in on WTTR. Piper Sandler upped their price target on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Thursday, February 19th. Citigroup increased their target price on Select Water Solutions from $15.00 to $16.50 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.63.

About Select Water Solutions

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company’s offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.