Punch & Associates Investment Management Inc. Sells 281,335 Shares of Select Water Solutions, Inc. $WTTR

Punch & Associates Investment Management Inc. lowered its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 15.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,501,191 shares of the company’s stock after selling 281,335 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in Select Water Solutions were worth $15,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meros Investment Management LP increased its position in shares of Select Water Solutions by 4.4% during the fourth quarter. Meros Investment Management LP now owns 939,857 shares of the company’s stock valued at $9,887,000 after acquiring an additional 39,471 shares in the last quarter. Needham Investment Management LLC grew its position in Select Water Solutions by 34.8% in the 4th quarter. Needham Investment Management LLC now owns 775,000 shares of the company’s stock worth $8,153,000 after purchasing an additional 200,000 shares during the period. Squarepoint Ops LLC grew its position in Select Water Solutions by 213.3% in the 4th quarter. Squarepoint Ops LLC now owns 37,785 shares of the company’s stock worth $397,000 after purchasing an additional 25,723 shares during the period. Barclays PLC grew its position in Select Water Solutions by 0.6% in the 4th quarter. Barclays PLC now owns 147,581 shares of the company’s stock worth $1,553,000 after purchasing an additional 857 shares during the period. Finally, First Trust Advisors LP grew its position in Select Water Solutions by 1,086.8% in the 4th quarter. First Trust Advisors LP now owns 297,089 shares of the company’s stock worth $3,125,000 after purchasing an additional 272,057 shares during the period. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Trading Down 1.7%

Shares of Select Water Solutions stock opened at $18.14 on Wednesday. The company’s fifty day simple moving average is $17.43 and its 200-day simple moving average is $14.22. The stock has a market capitalization of $2.51 billion, a PE ratio of 86.38 and a beta of 1.00. Select Water Solutions, Inc. has a 1-year low of $7.86 and a 1-year high of $20.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $365.96 million for the quarter, compared to analysts’ expectations of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. As a group, equities analysts anticipate that Select Water Solutions, Inc. will post 0.38 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, April 30th. Select Water Solutions’s dividend payout ratio (DPR) is currently 133.33%.

Insider Buying and Selling at Select Water Solutions

In other news, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction on Monday, May 11th. The shares were sold at an average price of $17.04, for a total transaction of $340,800.00. Following the transaction, the chief accounting officer owned 114,752 shares in the company, valued at $1,955,374.08. This trade represents a 14.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction on Friday, May 8th. The stock was sold at an average price of $16.80, for a total transaction of $453,768.00. Following the transaction, the director owned 43,315 shares in the company, valued at $727,692. This represents a 38.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on WTTR shares. Citigroup lifted their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Piper Sandler lifted their target price on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $22.40.

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.