Wedge Capital Management L L P NC Reduces Stock Holdings in Select Water Solutions, Inc. (NYSE:WTTR)

Wedge Capital Management L L P NC decreased its position in Select Water Solutions, Inc. (NYSE:WTTR) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,939 shares of the company’s stock after selling 10,319 shares during the period. Wedge Capital Management L L P NC’s holdings in Select Water Solutions were worth $850,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WTTR. Allspring Global Investments Holdings LLC purchased a new position in Select Water Solutions in the third quarter valued at approximately $28,000. New York State Teachers Retirement System purchased a new position in Select Water Solutions in the fourth quarter valued at approximately $54,000. Principal Financial Group Inc. purchased a new position in Select Water Solutions in the third quarter valued at approximately $95,000. Mackenzie Financial Corp purchased a new position in Select Water Solutions in the third quarter valued at approximately $100,000. Finally, Clough Capital Partners L P purchased a new position in Select Water Solutions in the third quarter valued at approximately $112,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Select Water Solutions Price Performance

NYSE:WTTR opened at $9.42 on Friday. The company has a market cap of $1.11 billion, a P/E ratio of 12.90 and a beta of 1.66. The stock’s fifty day moving average price is $8.91 and its two-hundred day moving average price is $7.95. Select Water Solutions, Inc. has a 1 year low of $6.78 and a 1 year high of $9.74.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.11. The firm had revenue of $374.90 million for the quarter, compared to analysts’ expectations of $378.12 million. Select Water Solutions had a net margin of 4.69% and a return on equity of 8.46%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, analysts expect that Select Water Solutions, Inc. will post 0.7 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, May 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.55%. Select Water Solutions’s payout ratio is currently 32.88%.

Analysts Set New Price Targets

Separately, Northland Securities assumed coverage on Select Water Solutions in a research report on Monday. They set a “market perform” rating and a $11.50 target price on the stock.

Insider Transactions at Select Water Solutions

In other news, CAO Brian Szymanski sold 8,080 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $8.33, for a total value of $67,306.40. Following the transaction, the chief accounting officer now owns 84,304 shares of the company’s stock, valued at $702,252.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Brian Szymanski sold 8,080 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.33, for a total value of $67,306.40. Following the transaction, the chief accounting officer now owns 84,304 shares of the company’s stock, valued at $702,252.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Nick L. Swyka sold 9,009 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $8.55, for a total value of $77,026.95. Following the completion of the transaction, the chief financial officer now directly owns 272,140 shares in the company, valued at approximately $2,326,797. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,511 shares of company stock valued at $398,053. 8.40% of the stock is currently owned by company insiders.

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.