Select Water Solutions, Inc. $WTTR Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 18.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,477 shares of the company’s stock after selling 58,583 shares during the quarter. Sterling Capital Management LLC’s holdings in Select Water Solutions were worth $5,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WTTR. Dimensional Fund Advisors LP raised its holdings in shares of Select Water Solutions by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company’s stock worth $100,220,000 after acquiring an additional 185,821 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its position in Select Water Solutions by 1.8% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,528,895 shares of the company’s stock valued at $23,392,000 after acquiring an additional 27,704 shares in the last quarter. Empowered Funds LLC lifted its position in Select Water Solutions by 6.2% in the 1st quarter. Empowered Funds LLC now owns 574,438 shares of the company’s stock valued at $8,789,000 after acquiring an additional 33,614 shares in the last quarter. Sei Investments Co. boosted its stake in Select Water Solutions by 100.0% during the 1st quarter. Sei Investments Co. now owns 422,854 shares of the company’s stock valued at $6,470,000 after purchasing an additional 211,421 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in Select Water Solutions during the 1st quarter valued at about $6,426,000. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Stock Performance

Shares of WTTR stock opened at $18.16 on Friday. The firm has a 50-day moving average of $19.74 and a 200-day moving average of $18.84. The company has a market cap of $2.52 billion, a P/E ratio of 64.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.40. Select Water Solutions, Inc. has a one year low of $9.28 and a one year high of $22.55.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The company had revenue of $395.81 million for the quarter, compared to analyst estimates of $373.33 million. During the same period last year, the firm earned $0.10 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Select Water Solutions, Inc. will post 0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on WTTR. UBS Group reissued a “buy” rating and set a $28.00 price objective on shares of Select Water Solutions in a report on Wednesday, September 30th. Zacks Research lowered Select Water Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen cut Select Water Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. JPMorgan Chase & Co. assumed coverage on Select Water Solutions in a research report on Friday, August 21st. They set an “overweight” rating and a $24.00 target price on the stock. Finally, TD Cowen downgraded Select Water Solutions to a “neutral” rating in a report on Friday, August 21st. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Select Water Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $24.57.

Select Water Solutions Profile

Select Water Solutions, Inc provides water management and environmental services to the North American oil and gas industry. The company helps exploration and production companies source, transport, store, treat, recycle and dispose of water used in drilling and hydraulic fracturing operations.

Its services include freshwater sourcing and transfer, produced-water gathering and recycling, water infrastructure construction and management, well testing, and wastewater disposal. Select Water Solutions also provides water-treatment solutions and related equipment designed to support more efficient water use and reduce the environmental impact of oilfield operations.

Formerly known as Select Energy Services, the company adopted the Select Water Solutions name in 2023 to reflect its broader focus on water and environmental services.