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

Principal Financial Group Inc. boosted its position in Select Water Solutions, Inc. (NYSE:WTTR) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,781 shares of the company’s stock after purchasing an additional 3,412 shares during the period. Principal Financial Group Inc.’s holdings in Select Water Solutions were worth $619,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in shares of Select Water Solutions by 51.9% in the third quarter. FMR LLC now owns 3,728,787 shares of the company’s stock valued at $41,501,000 after buying an additional 1,274,600 shares during the period. Van ECK Associates Corp increased its holdings in Select Water Solutions by 27.4% in the 4th quarter. Van ECK Associates Corp now owns 1,998,193 shares of the company’s stock worth $26,456,000 after acquiring an additional 430,363 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Select Water Solutions by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,964 shares of the company’s stock valued at $14,981,000 after acquiring an additional 329,353 shares during the period. Icon Wealth Advisors LLC lifted its holdings in Select Water Solutions by 82.7% during the third quarter. Icon Wealth Advisors LLC now owns 629,569 shares of the company’s stock valued at $7,007,000 after purchasing an additional 284,891 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Select Water Solutions by 46.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 558,530 shares of the company’s stock worth $6,216,000 after purchasing an additional 177,900 shares during the period. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO John Schmitz sold 73,450 shares of Select Water Solutions stock in a transaction on Friday, February 14th. The stock was sold at an average price of $13.03, for a total transaction of $957,053.50. Following the completion of the sale, the chief executive officer now owns 2,825,128 shares of the company’s stock, valued at approximately $36,811,417.84. This trade represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Citigroup boosted their price target on shares of Select Water Solutions from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, January 10th.

Select Water Solutions Price Performance

Select Water Solutions stock opened at $10.16 on Friday. The firm has a market capitalization of $1.21 billion, a P/E ratio of 33.85 and a beta of 1.77. Select Water Solutions, Inc. has a one year low of $8.38 and a one year high of $15.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.65 and a quick ratio of 1.62. The business has a fifty day moving average price of $13.05 and a 200-day moving average price of $12.48.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, February 18th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate 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 company had revenue of $349.05 million during the quarter, compared to the consensus estimate of $333.62 million. As a group, equities research analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.28 annualized dividend and a yield of 2.76%. Select Water Solutions’s dividend payout ratio is currently 93.33%.

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.