Select Water Solutions, Inc. $WTTR Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC reduced its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 13.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,289 shares of the company’s stock after selling 4,095 shares during the quarter. ELCO Management Co. LLC’s holdings in Select Water Solutions were worth $218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming grew its position in Select Water Solutions by 34.1% during the first quarter. State of Wyoming now owns 5,932 shares of the company’s stock worth $62,000 after buying an additional 1,509 shares during the period. Jones Financial Companies Lllp grew its position in Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after buying an additional 6,980 shares during the period. Apollon Wealth Management LLC acquired a new position in Select Water Solutions during the first quarter worth about $113,000. Cambridge Investment Research Advisors Inc. acquired a new position in Select Water Solutions during the first quarter worth about $123,000. Finally, Cerity Partners LLC acquired a new position in Select Water Solutions during the first quarter worth about $155,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Stock Down 0.9%

Shares of NYSE WTTR opened at $11.42 on Wednesday. Select Water Solutions, Inc. has a 12-month low of $7.20 and a 12-month high of $15.14. The company has a market capitalization of $1.38 billion, a PE ratio of 36.83 and a beta of 1.24. 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 firm’s 50-day moving average is $9.87 and its two-hundred day moving average is $9.15.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $364.22 million for the quarter, compared to analysts’ expectations of $362.93 million. Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. Equities analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, November 7th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.28 annualized dividend and a dividend yield of 2.5%. Select Water Solutions’s dividend payout ratio is presently 90.32%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WTTR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a report on Tuesday, October 14th. Piper Sandler began coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They issued an “overweight” rating and a $15.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.00.

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.