Ritholtz Wealth Management Has $226,000 Stake in Select Water Solutions, Inc. $WTTR

Ritholtz Wealth Management decreased its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 70.6% in the 2nd quarter, Holdings Channel reports. The fund owned 26,147 shares of the company’s stock after selling 62,875 shares during the period. Ritholtz Wealth Management’s holdings in Select Water Solutions were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Select Water Solutions by 8.3% during the first quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company’s stock worth $66,769,000 after acquiring an additional 488,443 shares in the last quarter. Wellington Management Group LLP raised its stake in Select Water Solutions by 7.8% during the first quarter. Wellington Management Group LLP now owns 4,070,293 shares of the company’s stock worth $42,738,000 after acquiring an additional 293,784 shares in the last quarter. Victory Capital Management Inc. raised its stake in Select Water Solutions by 6.2% during the first quarter. Victory Capital Management Inc. now owns 3,953,648 shares of the company’s stock worth $41,513,000 after acquiring an additional 229,736 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Select Water Solutions by 10.8% in the first quarter. American Century Companies Inc. now owns 3,518,256 shares of the company’s stock valued at $36,942,000 after buying an additional 343,581 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Select Water Solutions by 2.1% in the first quarter. Royce & Associates LP now owns 1,784,043 shares of the company’s stock valued at $18,732,000 after buying an additional 36,032 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WTTR has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research note on Tuesday, October 14th. Piper Sandler initiated coverage on Select Water Solutions in a research note on Tuesday, July 15th. They issued an “overweight” rating and a $15.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.00.

Select Water Solutions Stock Performance

Shares of WTTR stock opened at $11.27 on Wednesday. The business’s 50 day simple moving average is $9.53 and its 200 day simple moving average is $9.03. Select Water Solutions, Inc. has a one year low of $7.20 and a one year high of $15.14. The stock has a market capitalization of $1.37 billion, a PE ratio of 36.35 and a beta of 1.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.82.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The company had revenue of $364.22 million during the quarter, compared to the consensus estimate of $362.93 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. The business’s revenue was down .3% on a year-over-year basis. As a group, research analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued 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 was Tuesday, August 5th. Select Water Solutions’s dividend payout ratio is presently 90.32%.

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.