Raymond James Financial Inc. Buys New Shares in Select Water Solutions, Inc. (NYSE:WTTR)

Raymond James Financial Inc. bought a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 192,006 shares of the company’s stock, valued at approximately $2,542,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in shares of Select Water Solutions by 24.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock valued at $67,000 after acquiring an additional 1,007 shares during the period. Northwest & Ethical Investments L.P. acquired a new stake in Select Water Solutions in the 3rd quarter valued at about $107,000. CreativeOne Wealth LLC bought a new position in Select Water Solutions during the third quarter worth about $133,000. Truist Financial Corp acquired a new position in Select Water Solutions during the fourth quarter worth approximately $134,000. Finally, Atria Investments Inc bought a new stake in Select Water Solutions in the fourth quarter valued at approximately $134,000. 81.73% of the stock is owned by institutional investors.

Insider Activity at Select Water Solutions

In related news, CEO John Schmitz sold 73,450 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $13.03, for a total transaction of $957,053.50. Following the transaction, the chief executive officer now directly owns 2,825,128 shares of the company’s stock, valued at approximately $36,811,417.84. This trade represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Citigroup lifted their target price on Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, January 10th.

Select Water Solutions Price Performance

NYSE:WTTR opened at $10.40 on Friday. The firm’s fifty day moving average price is $11.84 and its two-hundred day moving average price is $12.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.65 and a quick ratio of 1.62. The company has a market cap of $1.24 billion, a P/E ratio of 34.65 and a beta of 1.77. Select Water Solutions, Inc. has a one year low of $8.60 and a one year high of $15.14.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). The company had revenue of $349.05 million during the quarter, compared to analyst estimates of $333.62 million. Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. Equities analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.07 per share. The ex-dividend date was Tuesday, February 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.69%. Select Water Solutions’s dividend payout ratio (DPR) is currently 93.33%.

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.