KLP Kapitalforvaltning AS Acquires New Stake in Select Water Solutions, Inc. (NYSE:WTTR)

KLP Kapitalforvaltning AS bought a new position in Select Water Solutions, Inc. (NYSE:WTTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 31,000 shares of the company’s stock, valued at approximately $410,000.

Several other hedge funds have also recently made changes to their positions in WTTR. FMR LLC boosted its stake in Select Water Solutions by 51.9% during 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. American Century Companies Inc. boosted its position in shares of Select Water Solutions by 12.6% during the 4th quarter. American Century Companies Inc. now owns 3,174,675 shares of the company’s stock valued at $42,033,000 after acquiring an additional 355,271 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Select Water Solutions by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,127,370 shares of the company’s stock valued at $23,683,000 after acquiring an additional 155,091 shares during the last quarter. Boston Partners grew its holdings in shares of Select Water Solutions by 4.3% during the fourth quarter. Boston Partners now owns 2,000,352 shares of the company’s stock worth $26,647,000 after purchasing an additional 81,746 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Select Water Solutions by 27.4% in the fourth quarter. Van ECK Associates Corp now owns 1,998,193 shares of the company’s stock worth $26,456,000 after purchasing an additional 430,363 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Trading Down 8.6 %

Shares of WTTR stock opened at $8.72 on Friday. The business has a 50-day moving average price of $11.45 and a two-hundred day moving average price of $12.33. Select Water Solutions, Inc. has a 12-month low of $8.50 and a 12-month high of $15.14. The company has a quick ratio of 1.62, a current ratio of 1.65 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.04 billion, a P/E ratio of 29.05 and a beta of 1.51.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). The firm had revenue of $349.05 million during the quarter, compared to the consensus estimate of $333.62 million. Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. Equities analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.21%. Select Water Solutions’s dividend payout ratio (DPR) is 93.33%.

Insider Activity at Select Water Solutions

In related news, CEO John Schmitz sold 26,550 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $13.16, for a total transaction of $349,398.00. Following the completion of the sale, the chief executive officer now directly owns 2,898,578 shares in the company, valued at $38,145,286.48. This represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.