Principal Financial Group Inc. Purchases New Stake in Select Water Solutions, Inc. (NYSE:WTTR)

Principal Financial Group Inc. acquired a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 43,369 shares of the company’s stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of Select Water Solutions by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,127,370 shares of the company’s stock worth $23,683,000 after purchasing an additional 155,091 shares during the period. Foundry Partners LLC raised its stake in 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. Barclays PLC raised its stake in Select Water Solutions by 319.3% in the 3rd quarter. Barclays PLC now owns 140,648 shares of the company’s stock valued at $1,565,000 after acquiring an additional 107,107 shares during the period. Acadian Asset Management LLC purchased a new stake in Select Water Solutions during the second quarter valued at about $635,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Select Water Solutions by 148.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company’s stock worth $12,478,000 after purchasing an additional 669,301 shares in the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Select Water Solutions Stock Up 0.3 %

WTTR opened at $13.80 on Monday. Select Water Solutions, Inc. has a 12 month low of $6.99 and a 12 month high of $15.14. The company has a market cap of $1.65 billion, a PE ratio of 23.39 and a beta of 1.76. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $13.40 and a 200 day moving average of $11.84.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. The firm had revenue of $371.35 million during the quarter, compared to analyst estimates of $352.98 million. During the same period last year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors 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 2.03%. The ex-dividend date of this dividend was Tuesday, November 5th. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s dividend payout ratio (DPR) is 47.46%.

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.