Victory Capital Management Inc. Purchases 3,506,479 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Victory Capital Management Inc. raised its position in Select Water Solutions, Inc. (NYSE:WTTR) by 1,328.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,770,505 shares of the company’s stock after buying an additional 3,506,479 shares during the quarter. Victory Capital Management Inc.’s holdings in Select Water Solutions were worth $40,344,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Icon Wealth Advisors LLC acquired a new stake in Select Water Solutions in the fourth quarter valued at about $4,778,000. Harbor Capital Advisors Inc. boosted its stake in shares of Select Water Solutions by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 451,845 shares of the company’s stock valued at $4,835,000 after purchasing an additional 330,838 shares in the last quarter. Webs Creek Capital Management LP grew its holdings in shares of Select Water Solutions by 16.1% during the 1st quarter. Webs Creek Capital Management LP now owns 2,208,733 shares of the company’s stock valued at $20,387,000 after purchasing an additional 306,547 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Select Water Solutions by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,031,868 shares of the company’s stock worth $45,782,000 after purchasing an additional 300,115 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Select Water Solutions by 230.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 406,106 shares of the company’s stock worth $3,748,000 after purchasing an additional 283,269 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WTTR has been the topic of a number of research analyst reports. Northland Capmk upgraded shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $11.50 to $14.50 in a report on Thursday, August 22nd.

Select Water Solutions Stock Up 0.7 %

Shares of NYSE WTTR opened at $10.71 on Tuesday. The company has a 50 day simple moving average of $11.01 and a 200 day simple moving average of $10.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.81 and a quick ratio of 1.63. Select Water Solutions, Inc. has a 1 year low of $6.78 and a 1 year high of $12.27. The firm has a market cap of $1.27 billion, a PE ratio of 16.47 and a beta of 1.66.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. Select Water Solutions had a net margin of 3.91% and a return on equity of 6.56%. The firm had revenue of $365.13 million during the quarter, compared to the consensus estimate of $372.25 million. During the same quarter last year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts forecast that Select Water Solutions, Inc. will post 0.48 EPS for the current year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, August 5th. Select Water Solutions’s payout ratio is presently 36.92%.

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.