Victory Capital Management Inc. Buys 47,511 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Victory Capital Management Inc. boosted its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,818,016 shares of the company’s stock after acquiring an additional 47,511 shares during the quarter. Victory Capital Management Inc. owned about 3.21% of Select Water Solutions worth $42,495,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Caxton Associates LP bought a new position in shares of Select Water Solutions during the first quarter valued at approximately $495,000. Vanguard Group Inc. grew its stake in shares of Select Water Solutions by 3.5% during the first quarter. Vanguard Group Inc. now owns 5,619,256 shares of the company’s stock valued at $51,866,000 after buying an additional 188,347 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Select Water Solutions during the second quarter valued at approximately $635,000. Harbor Capital Advisors Inc. grew its stake in shares of Select Water Solutions by 148.1% during the third quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company’s stock valued at $12,478,000 after buying an additional 669,301 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Select Water Solutions by 277.6% during the first quarter. Quadrature Capital Ltd now owns 77,557 shares of the company’s stock valued at $716,000 after buying an additional 57,017 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Stock Down 0.9 %

Shares of NYSE:WTTR opened at $13.43 on Friday. Select Water Solutions, Inc. has a 52-week low of $6.99 and a 52-week high of $14.48. The stock has a market cap of $1.60 billion, a P/E ratio of 22.76 and a beta of 1.67. The business’s 50 day moving average is $11.45 and its 200 day moving average is $10.91. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.09.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. The company had revenue of $371.35 million for the quarter, compared to analysts’ expectations of $352.98 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Select Water Solutions’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts predict that Select Water Solutions, Inc. will post 0.4 EPS for the current year.

Select Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.28 dividend on an annualized basis and a yield of 2.08%. This is a positive change from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s dividend payout ratio is currently 47.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WTTR shares. Northland Capmk raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and upped their target price for the company from $11.50 to $14.50 in a research note on Thursday, August 22nd.

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.