Massachusetts Financial Services Co. MA Has $1.46 Million Stock Holdings in Select Water Solutions, Inc. (NYSE:WTTR)

Massachusetts Financial Services Co. MA trimmed its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,404 shares of the company’s stock after selling 3,181 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.11% of Select Water Solutions worth $1,463,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WTTR. Foundry Partners LLC grew its position in shares of Select Water Solutions by 29.8% in the 3rd quarter. Foundry Partners LLC now owns 622,755 shares of the company’s stock valued at $6,931,000 after acquiring an additional 142,919 shares during the period. Intech Investment Management LLC bought a new position in Select Water Solutions during the third quarter worth about $259,000. Empowered Funds LLC increased its position in Select Water Solutions by 5.4% during the third quarter. Empowered Funds LLC now owns 574,381 shares of the company’s stock worth $6,393,000 after buying an additional 29,212 shares during the last quarter. Royce & Associates LP raised its stake in Select Water Solutions by 1.9% in the third quarter. Royce & Associates LP now owns 1,682,413 shares of the company’s stock valued at $18,725,000 after buying an additional 31,192 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Select Water Solutions by 1.3% in the third quarter. Victory Capital Management Inc. now owns 3,818,016 shares of the company’s stock valued at $42,495,000 after buying an additional 47,511 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Northland Capmk raised 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 shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $11.50 to $14.50 in a report on Thursday, August 22nd.

Select Water Solutions Stock Performance

WTTR opened at $14.67 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62. The business has a fifty day simple moving average of $11.97 and a 200 day simple moving average of $11.18. Select Water Solutions, Inc. has a 1 year low of $6.99 and a 1 year high of $14.87. The company has a market capitalization of $1.75 billion, a PE ratio of 24.88 and a beta of 1.67.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The business had revenue of $371.35 million for the quarter, compared to the consensus estimate of $352.98 million. During the same period in the prior year, the company posted $0.14 earnings per share. Select Water Solutions’s revenue was down 4.6% compared to the same quarter last year. Research analysts expect that Select Water Solutions, Inc. will post 0.4 EPS for the current year.

Select Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, November 5th. Select Water Solutions’s payout ratio is presently 47.46%.

About Select Water Solutions

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.