Wedge Capital Management L L P NC Lowers Holdings in Select Water Solutions, Inc. (NYSE:WTTR)

Wedge Capital Management L L P NC trimmed its position in Select Water Solutions, Inc. (NYSE:WTTR) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,939 shares of the company’s stock after selling 10,319 shares during the period. Wedge Capital Management L L P NC owned approximately 0.09% of Select Water Solutions worth $850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WTTR. Vanguard Group Inc. raised its stake in Select Water Solutions by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,063,979 shares of the company’s stock valued at $40,259,000 after purchasing an additional 464,946 shares during the last quarter. Wellington Management Group LLP raised its stake in Select Water Solutions by 19.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,553,352 shares of the company’s stock valued at $36,199,000 after purchasing an additional 728,101 shares during the last quarter. Gendell Jeffrey L raised its stake in Select Water Solutions by 12.1% in the 3rd quarter. Gendell Jeffrey L now owns 1,121,189 shares of the company’s stock valued at $8,913,000 after purchasing an additional 121,199 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Select Water Solutions by 113.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 946,646 shares of the company’s stock valued at $7,526,000 after purchasing an additional 503,780 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Select Water Solutions by 18.2% in the 3rd quarter. Invesco Ltd. now owns 865,323 shares of the company’s stock valued at $6,879,000 after purchasing an additional 133,416 shares during the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Select Water Solutions

In other news, SVP Christopher Kile George sold 23,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total transaction of $198,490.00. Following the completion of the sale, the senior vice president now owns 255,587 shares in the company, valued at approximately $2,205,715.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Select Water Solutions news, CFO Nick L. Swyka sold 9,009 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $8.55, for a total value of $77,026.95. Following the transaction, the chief financial officer now directly owns 272,140 shares of the company’s stock, valued at approximately $2,326,797. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher Kile George sold 23,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $8.63, for a total value of $198,490.00. Following the completion of the transaction, the senior vice president now directly owns 255,587 shares in the company, valued at $2,205,715.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,511 shares of company stock worth $398,053. 8.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Northland Securities initiated coverage on shares of Select Water Solutions in a research note on Monday. They issued a “market perform” rating and a $11.50 target price for the company.

Select Water Solutions Price Performance

NYSE WTTR opened at $9.42 on Friday. Select Water Solutions, Inc. has a 12 month low of $6.78 and a 12 month high of $9.74. The company has a 50-day moving average of $8.91 and a 200-day moving average of $7.95. The company has a market cap of $1.11 billion, a P/E ratio of 12.90 and a beta of 1.66.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.11. Select Water Solutions had a net margin of 4.69% and a return on equity of 8.46%. The company had revenue of $374.90 million during the quarter, compared to the consensus estimate of $378.12 million. During the same quarter in the prior year, the company posted $0.07 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Select Water Solutions, Inc. will post 0.7 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Thursday, May 2nd. Select Water Solutions’s payout ratio is currently 32.88%.

Select Water Solutions 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.