Pier 88 Investment Partners LLC Purchases New Position in Select Water Solutions, Inc. (NYSE:WTTR)

Pier 88 Investment Partners LLC purchased a new stake in Select Water Solutions, Inc. (NYSE:WTTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 46,470 shares of the company’s stock, valued at approximately $615,000.

Several other hedge funds have also bought and sold shares of WTTR. Geode Capital Management LLC lifted its stake in shares of Select Water Solutions by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,127,370 shares of the company’s stock valued at $23,683,000 after purchasing an additional 155,091 shares during the period. Barclays PLC raised its position in shares of Select Water Solutions by 319.3% in the third quarter. Barclays PLC now owns 140,648 shares of the company’s stock worth $1,565,000 after acquiring an additional 107,107 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Select Water Solutions in the third quarter worth about $483,000. Swiss National Bank boosted its stake in shares of Select Water Solutions by 0.8% during the 4th quarter. Swiss National Bank now owns 181,900 shares of the company’s stock worth $2,408,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Select Water Solutions during the 4th quarter valued at about $203,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Insider Activity

In other news, CEO John Schmitz sold 26,550 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $13.16, for a total value of $349,398.00. Following the completion of the sale, the chief executive officer now directly owns 2,898,578 shares in the company, valued at $38,145,286.48. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup upped their price target on Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, January 10th.

Select Water Solutions Price Performance

Shares of NYSE WTTR opened at $10.40 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The firm has a fifty day moving average of $11.84 and a 200 day moving average of $12.37. The firm has a market cap of $1.24 billion, a PE ratio of 34.65 and a beta of 1.77. Select Water Solutions, Inc. has a one year low of $8.60 and a one year high of $15.14.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.14). Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The company had revenue of $349.05 million during the quarter, compared to analyst estimates of $333.62 million. As a group, research analysts predict that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.69%. Select Water Solutions’s payout ratio is currently 93.33%.

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.