Picton Mahoney Asset Management Sells 66,427 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Picton Mahoney Asset Management reduced its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,724 shares of the company’s stock after selling 66,427 shares during the quarter. Picton Mahoney Asset Management owned about 0.31% of Select Water Solutions worth $4,893,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in WTTR. Parkside Financial Bank & Trust raised its holdings in Select Water Solutions by 24.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock worth $67,000 after acquiring an additional 1,007 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new position in Select Water Solutions in the 3rd quarter worth approximately $107,000. Amundi raised its holdings in Select Water Solutions by 83.8% in the 4th quarter. Amundi now owns 9,010 shares of the company’s stock worth $119,000 after acquiring an additional 4,109 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Select Water Solutions in the 3rd quarter worth approximately $133,000. Finally, Truist Financial Corp purchased a new position in Select Water Solutions in the 4th quarter worth approximately $134,000. 81.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Select Water Solutions

In other news, CEO John Schmitz sold 26,550 shares of Select Water Solutions 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 transaction, the chief executive officer now directly owns 2,898,578 shares of the company’s stock, valued at $38,145,286.48. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.40% of the company’s stock.

Analysts Set New Price Targets

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

Select Water Solutions Price Performance

Shares of WTTR opened at $9.64 on Friday. The firm has a market cap of $1.15 billion, a PE ratio of 32.12 and a beta of 1.77. The company has a current ratio of 1.65, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $12.55 and a two-hundred day simple moving average of $12.41. 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 announced 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 company had revenue of $349.05 million for the quarter, compared to analysts’ expectations of $333.62 million. Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. On average, equities analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 dividend on an annualized basis and a yield of 2.91%. Select Water Solutions’s dividend payout ratio is presently 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.