Principal Financial Group Inc. Takes Position in Select Water Solutions, Inc. (NYSE:WTTR)

Principal Financial Group Inc. bought a new position in Select Water Solutions, Inc. (NYSE:WTTR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 43,369 shares of the company’s stock, valued at approximately $483,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WTTR. Victory Capital Management Inc. raised its position 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 worth $40,344,000 after purchasing an additional 3,506,479 shares during the period. American Century Companies Inc. increased its holdings in shares of Select Water Solutions by 87.3% in the second quarter. American Century Companies Inc. now owns 1,910,065 shares of the company’s stock worth $20,438,000 after buying an additional 890,470 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Select Water Solutions by 148.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company’s stock valued at $12,478,000 after acquiring an additional 669,301 shares during the last quarter. Foundry Partners LLC purchased a new stake in Select Water Solutions during the 2nd quarter valued at about $5,134,000. Finally, Webs Creek Capital Management LP grew its position in 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 worth $20,387,000 after acquiring an additional 306,547 shares during the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Select Water Solutions Price Performance

Shares of WTTR stock opened at $14.69 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.78. Select Water Solutions, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $14.87. The firm has a market cap of $1.75 billion, a P/E ratio of 24.90 and a beta of 1.67. The business’s 50 day moving average price is $11.83 and its 200-day moving average price is $11.11.

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

Select Water Solutions Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.