Picton Mahoney Asset Management Cuts Stock Position in Select Water Solutions, Inc. (NYSE:WTTR)

Picton Mahoney Asset Management cut its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 15.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 369,724 shares of the company’s stock after selling 66,427 shares during the period. Picton Mahoney Asset Management’s holdings in Select Water Solutions were worth $4,893,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Parkside Financial Bank & Trust grew its position in shares of Select Water Solutions by 24.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock worth $67,000 after purchasing an additional 1,007 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in shares of Select Water Solutions during the third quarter worth about $107,000. Amundi grew its position in shares of Select Water Solutions by 83.8% during the fourth quarter. Amundi now owns 9,010 shares of the company’s stock worth $119,000 after purchasing an additional 4,109 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Select Water Solutions during the third quarter worth about $133,000. Finally, Truist Financial Corp purchased a new stake in shares of Select Water Solutions during the fourth quarter worth about $134,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Select Water Solutions

In related news, CEO John Schmitz sold 73,450 shares of Select Water Solutions stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $13.03, for a total transaction of $957,053.50. Following the completion of the transaction, the chief executive officer now directly owns 2,825,128 shares of the company’s stock, valued at approximately $36,811,417.84. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.40% of the company’s stock.

Select Water Solutions Price Performance

Shares of Select Water Solutions stock opened at $9.64 on Friday. The stock has a 50 day moving average of $12.55 and a 200 day moving average of $12.41. Select Water Solutions, Inc. has a 12 month low of $8.60 and a 12 month high of $15.14. The firm has a market cap of $1.15 billion, a PE ratio of 32.12 and a beta of 1.77. The company has a current ratio of 1.65, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $349.05 million for the quarter, compared to the consensus estimate of $333.62 million. On average, research analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were issued a $0.07 dividend. The ex-dividend date was Tuesday, February 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.91%. Select Water Solutions’s dividend payout ratio (DPR) is presently 93.33%.

Wall Street Analysts Forecast Growth

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

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.