Van ECK Associates Corp Cuts Holdings in Select Water Solutions, Inc. (NYSE:WTTR)

Van ECK Associates Corp decreased its position in Select Water Solutions, Inc. (NYSE:WTTR) by 28.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,567,830 shares of the company’s stock after selling 608,386 shares during the period. Van ECK Associates Corp’s holdings in Select Water Solutions were worth $16,917,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. New York State Teachers Retirement System grew its position in shares of Select Water Solutions by 13.8% in the third quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock valued at $93,000 after purchasing an additional 1,010 shares during the period. GAMMA Investing LLC grew its position in shares of Select Water Solutions by 57.3% in the second quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock valued at $32,000 after purchasing an additional 1,096 shares during the period. ProShare Advisors LLC grew its position in shares of Select Water Solutions by 8.6% in the first quarter. ProShare Advisors LLC now owns 14,356 shares of the company’s stock valued at $133,000 after purchasing an additional 1,131 shares during the period. CWM LLC grew its position in shares of Select Water Solutions by 55.2% in the second quarter. CWM LLC now owns 4,204 shares of the company’s stock valued at $45,000 after purchasing an additional 1,496 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Select Water Solutions by 15.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,993 shares of the company’s stock valued at $213,000 after purchasing an additional 3,142 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

WTTR opened at $11.13 on Wednesday. The firm has a market capitalization of $1.32 billion, a PE ratio of 19.19 and a beta of 1.67. Select Water Solutions, Inc. has a twelve month low of $6.99 and a twelve month high of $12.27. The firm’s 50-day moving average price is $11.03 and its 200 day moving average price is $10.68. The company has a current ratio of 1.81, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $371.35 million for the quarter, compared to analyst estimates of $352.98 million. Select Water Solutions had a net margin of 3.91% and a return on equity of 6.56%. Select Water Solutions’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. As a group, sell-side analysts expect that Select Water Solutions, Inc. will post 0.47 EPS for the current fiscal year.

Select Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.52%. This is a positive change from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, November 5th. Select Water Solutions’s payout ratio is presently 48.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Northland Capmk upgraded shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Northland Securities upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $11.50 to $14.50 in a research report on Thursday, August 22nd.

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.