Massachusetts Financial Services Co. MA Boosts Stake in Select Water Solutions, Inc. (NYSE:WTTR)

Massachusetts Financial Services Co. MA boosted its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 134,585 shares of the company’s stock after acquiring an additional 4,518 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.11% of Select Water Solutions worth $1,440,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Select Water Solutions by 1,328.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,770,505 shares of the company’s stock valued at $40,344,000 after purchasing an additional 3,506,479 shares in the last quarter. American Century Companies Inc. grew its stake in Select Water Solutions by 87.3% in the 2nd quarter. American Century Companies Inc. now owns 1,910,065 shares of the company’s stock valued at $20,438,000 after acquiring an additional 890,470 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Select Water Solutions in the fourth quarter valued at about $4,778,000. Foundry Partners LLC acquired a new stake in shares of Select Water Solutions in the second quarter valued at approximately $5,134,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Select Water Solutions by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 451,845 shares of the company’s stock worth $4,835,000 after purchasing an additional 330,838 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

Select Water Solutions Trading Up 0.9 %

Shares of Select Water Solutions stock opened at $11.43 on Monday. The firm has a market cap of $1.36 billion, a PE ratio of 17.58 and a beta of 1.66. The company has a quick ratio of 1.63, a current ratio of 1.81 and a debt-to-equity ratio of 0.10. Select Water Solutions, Inc. has a fifty-two week low of $6.78 and a fifty-two week high of $12.27. The business’s fifty day moving average is $11.09 and its two-hundred day moving average is $10.24.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $365.13 million during the quarter, compared to the consensus estimate of $372.25 million. Select Water Solutions had a net margin of 3.91% and a return on equity of 6.56%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 EPS. Analysts anticipate that Select Water Solutions, Inc. will post 0.48 earnings per share for the current year.

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, August 5th. Select Water Solutions’s dividend payout ratio is currently 36.92%.

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.