Verition Fund Management LLC Lowers Stock Holdings in Select Water Solutions, Inc. (NYSE:WTTR)

Verition Fund Management LLC lessened its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 87.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,005 shares of the company’s stock after selling 81,206 shares during the period. Verition Fund Management LLC’s holdings in Select Water Solutions were worth $134,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WTTR. Innealta Capital LLC purchased a new stake in shares of Select Water Solutions during the second quarter worth about $34,000. GAMMA Investing LLC grew its holdings in Select Water Solutions by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,149 shares of the company’s stock valued at $46,000 after buying an additional 1,141 shares in the last quarter. CWM LLC raised its position in shares of Select Water Solutions by 55.2% during the second quarter. CWM LLC now owns 4,204 shares of the company’s stock valued at $45,000 after buying an additional 1,496 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Select Water Solutions by 13.8% in the third quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock worth $93,000 after buying an additional 1,010 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of Select Water Solutions during the third quarter worth $107,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WTTR. Northland Securities upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $11.50 to $14.50 in a report on Thursday, August 22nd. Northland Capmk upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd.

Select Water Solutions Trading Down 0.8 %

Shares of WTTR opened at $13.65 on Tuesday. The stock has a market capitalization of $1.63 billion, a PE ratio of 23.14 and a beta of 1.76. The company’s fifty day moving average is $12.86 and its 200 day moving average is $11.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.78. Select Water Solutions, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $15.14.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The firm had revenue of $371.35 million for the quarter, compared to analysts’ expectations of $352.98 million. During the same period in the prior year, the company earned $0.14 EPS. The business’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.4 earnings per share for the current fiscal year.

Select Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.05%. This is a positive change from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, November 5th. Select Water Solutions’s dividend payout ratio (DPR) is presently 47.46%.

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.