ELCO Management Co. LLC Trims Stock Position in Select Water Solutions, Inc. $WTTR

ELCO Management Co. LLC cut its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 13.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,289 shares of the company’s stock after selling 4,095 shares during the period. ELCO Management Co. LLC’s holdings in Select Water Solutions were worth $218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Select Water Solutions in the first quarter valued at $123,000. Harbor Capital Advisors Inc. increased its stake in Select Water Solutions by 3.8% in the second quarter. Harbor Capital Advisors Inc. now owns 1,054,145 shares of the company’s stock valued at $9,108,000 after purchasing an additional 38,692 shares during the period. Strs Ohio acquired a new position in Select Water Solutions in the first quarter valued at $660,000. Palogic Value Management L.P. acquired a new position in Select Water Solutions in the first quarter valued at $682,000. Finally, New York State Common Retirement Fund increased its stake in Select Water Solutions by 57.6% in the first quarter. New York State Common Retirement Fund now owns 664,868 shares of the company’s stock valued at $6,981,000 after purchasing an additional 243,114 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Trading Down 0.9%

Shares of Select Water Solutions stock opened at $11.42 on Wednesday. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.14. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. The company’s 50-day simple moving average is $9.87 and its 200-day simple moving average is $9.15. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 36.83 and a beta of 1.24.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.The firm had revenue of $364.22 million for the quarter, compared to analyst estimates of $362.93 million. During the same quarter last year, the firm earned $0.13 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. As a group, equities research 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 will be paid on Monday, November 17th. Stockholders of record on Friday, November 7th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, November 7th. Select Water Solutions’s payout ratio is 90.32%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research note on Tuesday, October 14th. Piper Sandler assumed coverage on shares of Select Water Solutions in a research note on Tuesday, July 15th. They issued an “overweight” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $15.00.

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.