Select Water Solutions, Inc. (NYSE:WTTR) Shares Acquired by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC grew its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 142.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,850 shares of the company’s stock after acquiring an additional 66,380 shares during the period. Pier 88 Investment Partners LLC’s holdings in Select Water Solutions were worth $1,185,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WTTR. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Select Water Solutions in the first quarter worth about $123,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Select Water Solutions in the fourth quarter valued at approximately $154,000. Swiss National Bank lifted its stake in Select Water Solutions by 0.8% in the fourth quarter. Swiss National Bank now owns 181,900 shares of the company’s stock worth $2,408,000 after acquiring an additional 1,400 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Select Water Solutions by 766.8% during the 1st quarter. GAMMA Investing LLC now owns 36,015 shares of the company’s stock worth $378,000 after buying an additional 31,860 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Select Water Solutions by 57.6% during the 1st quarter. New York State Common Retirement Fund now owns 664,868 shares of the company’s stock worth $6,981,000 after buying an additional 243,114 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Stock Performance

WTTR traded up $0.11 during trading hours on Tuesday, hitting $9.49. 154,797 shares of the stock were exchanged, compared to its average volume of 1,094,213. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.83 and a quick ratio of 1.67. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 27.84 and a beta of 1.20. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $15.14. The stock has a 50-day simple moving average of $8.85 and a 200-day simple moving average of $10.23.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $374.38 million for the quarter, compared to analyst estimates of $360.78 million. Select Water Solutions had a return on equity of 3.96% and a net margin of 2.42%. Select Water Solutions’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share. Analysts anticipate that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.28 annualized dividend and a dividend yield of 2.95%. Select Water Solutions’s dividend payout ratio is 82.35%.

Analyst Ratings Changes

Several analysts recently commented on WTTR shares. Raymond James Financial reduced their price target on shares of Select Water Solutions from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Friday, May 9th. Piper Sandler started coverage on shares of Select Water Solutions in a research note on Tuesday, July 15th. They set an “overweight” rating and a $15.00 price target on the stock. Finally, Citigroup lowered their price target on shares of Select Water Solutions from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Select Water Solutions has a consensus rating of “Buy” and an average target price of $14.88.

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.