Punch & Associates Investment Management Inc. Purchases 27,704 Shares of Select Water Solutions, Inc. $WTTR

Punch & Associates Investment Management Inc. increased its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 1.8% in the first quarter, Holdings Channel.com reports. The firm owned 1,528,895 shares of the company’s stock after purchasing an additional 27,704 shares during the quarter. Select Water Solutions comprises approximately 1.3% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Punch & Associates Investment Management Inc.’s holdings in Select Water Solutions were worth $23,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Select Water Solutions by 0.6% in the fourth 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 last quarter. Inspire Investing LLC grew its stake in shares of Select Water Solutions by 1.9% during the fourth quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock valued at $581,000 after buying an additional 1,023 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Select Water Solutions by 8.4% in the fourth quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock worth $182,000 after buying an additional 1,336 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Select Water Solutions by 2.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock worth $686,000 after acquiring an additional 1,541 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Select Water Solutions by 10.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,699 shares of the company’s stock worth $186,000 after acquiring an additional 1,692 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Stock Performance

WTTR stock opened at $20.18 on Friday. Select Water Solutions, Inc. has a 1-year low of $7.86 and a 1-year high of $21.67. The business has a 50-day moving average price of $19.08 and a 200 day moving average price of $15.86. The company has a market capitalization of $2.79 billion, a P/E ratio of 96.08 and a beta of 0.98. 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 earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The company 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 firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. As a group, equities research analysts forecast that Select Water Solutions, Inc. will post 0.46 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. Select Water Solutions’s payout ratio is 133.33%.

Analysts Set New Price Targets

A number of analysts have weighed in on WTTR shares. Northland Securities set a $21.00 target price on Select Water Solutions in a research note on Thursday, May 7th. Bank of America assumed coverage on shares of Select Water Solutions in a report on Friday, May 29th. They issued a “buy” rating and a $22.00 price target on the stock. Citigroup raised their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Piper Sandler lifted their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

Insider Buying and Selling

In other Select Water Solutions news, CAO Brian Szymanski sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the transaction, the chief accounting officer directly owned 114,752 shares in the company, valued at approximately $1,955,374.08. The trade was a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael Skarke sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total transaction of $355,600.00. Following the completion of the sale, the chief operating officer owned 360,738 shares in the company, valued at $6,413,921.64. This represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,010 shares of company stock worth $3,925,971 over the last quarter. Insiders own 6.20% of the company’s stock.

Select Water Solutions Profile

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.