Pier 88 Investment Partners LLC Takes Position in Select Water Solutions, Inc. (NYSE:WTTR)

Pier 88 Investment Partners LLC acquired a new stake in Select Water Solutions, Inc. (NYSE:WTTR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,470 shares of the company’s stock, valued at approximately $615,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in 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 valued at $23,683,000 after purchasing an additional 155,091 shares during the last quarter. Barclays PLC lifted its holdings in Select Water Solutions by 319.3% in the third 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 last quarter. Principal Financial Group Inc. acquired a new position in Select Water Solutions in the third quarter valued at approximately $483,000. Swiss National Bank grew its position in Select Water Solutions by 0.8% in the fourth quarter. Swiss National Bank now owns 181,900 shares of the company’s stock worth $2,408,000 after acquiring an additional 1,400 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in Select Water Solutions during the fourth quarter worth $203,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Select Water Solutions

In related news, CEO John Schmitz sold 73,450 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $13.03, for a total transaction of $957,053.50. Following the sale, the chief executive officer now directly owns 2,825,128 shares of the company’s stock, valued at $36,811,417.84. This represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.40% of the stock is currently owned by company insiders.

Select Water Solutions Price Performance

Select Water Solutions stock opened at $10.40 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 34.65 and a beta of 1.77. The company’s 50 day simple moving average is $11.84 and its 200-day simple moving average is $12.37. Select Water Solutions, Inc. has a 1 year low of $8.60 and a 1 year high of $15.14.

Select Water Solutions (NYSE:WTTR) last released 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 return on equity of 3.48% and a net margin of 2.11%. The firm had revenue of $349.05 million for the quarter, compared to analyst estimates of $333.62 million. As a group, equities research analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Tuesday, February 4th. Select Water Solutions’s payout ratio is 93.33%.

Analysts Set New Price Targets

Separately, Citigroup upped their price target on Select Water Solutions from $14.00 to $18.00 and gave the company a “buy” rating in a research note 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.