Pier 88 Investment Partners LLC Sells 19,150 Shares of Select Water Solutions, Inc. $WTTR

Pier 88 Investment Partners LLC cut its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 17.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 93,700 shares of the company’s stock after selling 19,150 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Select Water Solutions were worth $810,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EVR Research LP bought a new position in shares of Select Water Solutions during the first quarter worth approximately $9,660,000. Millennium Management LLC boosted its stake in Select Water Solutions by 466.8% in the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after purchasing an additional 802,833 shares during the period. Goldman Sachs Group Inc. grew its holdings in Select Water Solutions by 90.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after buying an additional 576,660 shares in the last quarter. Vanguard Group Inc. increased its position in Select Water Solutions by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company’s stock worth $66,769,000 after buying an additional 488,443 shares during the period. Finally, Penn Capital Management Company LLC lifted its holdings in shares of Select Water Solutions by 93.2% during the first quarter. Penn Capital Management Company LLC now owns 839,007 shares of the company’s stock worth $8,819,000 after buying an additional 404,669 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Trading Down 3.3%

WTTR opened at $10.96 on Friday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 57.66 and a beta of 1.18. The company has a quick ratio of 1.82, a current ratio of 1.64 and a debt-to-equity ratio of 0.31. Select Water Solutions, Inc. has a twelve month low of $7.20 and a twelve month high of $15.14. The company has a 50-day simple moving average of $10.39 and a 200 day simple moving average of $9.34.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, November 4th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $322.24 million for the quarter, compared to analyst estimates of $306.39 million. Select Water Solutions had a net margin of 1.41% and a return on equity of 2.26%. The business’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. Analysts predict 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 $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, November 7th. Select Water Solutions’s dividend payout ratio (DPR) is 147.37%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research note on Tuesday, October 14th. Wall Street Zen downgraded shares of Select Water Solutions from a “hold” rating to a “sell” rating in a report on Saturday. Piper Sandler started coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They set an “overweight” rating and a $15.00 target price on the stock. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $16.00 price target on shares of Select Water Solutions in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.00.

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.