Pier 88 Investment Partners LLC Sells 19,150 Shares of Select Water Solutions, Inc. $WTTR

Pier 88 Investment Partners LLC lowered its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,700 shares of the company’s stock after selling 19,150 shares during the quarter. Pier 88 Investment Partners LLC owned 0.08% of Select Water Solutions worth $810,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Select Water Solutions in the first quarter valued at approximately $123,000. Principal Financial Group Inc. grew its position in Select Water Solutions by 3.9% in the first quarter. Principal Financial Group Inc. now owns 48,603 shares of the company’s stock valued at $510,000 after purchasing an additional 1,822 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Select Water Solutions by 187.0% in the first quarter. Envestnet Asset Management Inc. now owns 88,839 shares of the company’s stock valued at $933,000 after purchasing an additional 57,889 shares in the last quarter. M&T Bank Corp acquired a new stake in Select Water Solutions in the 1st quarter valued at $244,000. Finally, Cerity Partners LLC bought a new stake in Select Water Solutions during the 1st quarter worth about $155,000. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Trading Down 3.3%

Select Water Solutions stock opened at $10.96 on Friday. Select Water Solutions, Inc. has a 52 week low of $7.20 and a 52 week high of $15.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.82 and a current ratio of 1.64. The stock has a market capitalization of $1.33 billion, a P/E ratio of 57.66 and a beta of 1.18. The stock has a 50-day simple moving average of $10.39 and a 200 day simple moving average of $9.34.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Select Water Solutions had a return on equity of 2.26% and a net margin of 1.41%.The firm had revenue of $322.24 million for the quarter, compared to analyst estimates of $306.39 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. Analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, November 7th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, November 7th. Select Water Solutions’s dividend payout ratio is 147.37%.

Analyst Ratings Changes

WTTR has been the subject of a number of recent research reports. Raymond James Financial restated a “strong-buy” rating and set a $16.00 price objective on shares of Select Water Solutions in a research note on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a research report on Tuesday, October 14th. Wall Street Zen downgraded Select Water Solutions from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Piper Sandler began coverage on Select Water Solutions in a research report on Tuesday, July 15th. They set an “overweight” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Select Water Solutions presently has an average rating of “Buy” and a consensus target price of $15.00.

Select Water Solutions Company Profile

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.