Victory Capital Management Inc. Sells 236,606 Shares of Select Water Solutions, Inc. $WTTR

Victory Capital Management Inc. decreased its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,646,499 shares of the company’s stock after selling 236,606 shares during the quarter. Victory Capital Management Inc.’s holdings in Select Water Solutions were worth $38,981,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in Select Water Solutions by 160.2% in the third quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $28,000 after buying an additional 1,610 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Select Water Solutions during the third quarter valued at $29,000. State of Alaska Department of Revenue purchased a new stake in shares of Select Water Solutions in the third quarter valued at $33,000. Osaic Holdings Inc. raised its stake in shares of Select Water Solutions by 59.9% in the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after acquiring an additional 1,830 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after acquiring an additional 6,980 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.

Insider Activity

In related news, CEO John Schmitz sold 33,916 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $13.03, for a total value of $441,925.48. Following the transaction, the chief executive officer owned 249,243 shares of the company’s stock, valued at $3,247,636.29. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.40% of the company’s stock.

Select Water Solutions Trading Down 1.5%

WTTR stock opened at $13.82 on Friday. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $15.45. The firm’s 50-day moving average is $12.33 and its 200 day moving average is $10.98. The company has a market capitalization of $1.68 billion, a PE ratio of 65.81 and a beta of 0.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.57 and a quick ratio of 1.42.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.21). The company had revenue of $346.50 million during the quarter, compared to analysts’ expectations of $320.85 million. Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. Select Water Solutions’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. On average, research analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Friday, February 6th were issued a $0.07 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. Select Water Solutions’s payout ratio is presently 133.33%.

Wall Street Analyst Weigh In

A number of research firms recently commented on WTTR. Piper Sandler lifted their price target on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a research note on Friday, January 9th. Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a report on Thursday, February 19th. Finally, Citigroup raised their price target on Select Water Solutions from $15.00 to $16.50 and gave the stock a “buy” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $16.63.

About Select Water Solutions

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company’s offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.