Assenagon Asset Management S.A. Sells 274,331 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Posted by Defense World Staff on Oct 21st, 2023

Assenagon Asset Management S.A. reduced its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR – Free Report) by 96.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,228 shares of the company’s stock after selling 274,331 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Select Water Solutions were worth $83,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WTTR. Allspring Global Investments Holdings LLC raised its position in Select Water Solutions by 1,440.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,578 shares of the company’s stock valued at $46,000 after purchasing an additional 6,151 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Select Water Solutions by 43.2% in the third quarter. Tower Research Capital LLC TRC now owns 7,616 shares of the company’s stock valued at $53,000 after purchasing an additional 2,297 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Select Water Solutions in the third quarter valued at about $78,000. Balyasny Asset Management LLC bought a new position in Select Water Solutions in the third quarter valued at about $78,000. Finally, AXA S.A. bought a new position in Select Water Solutions in the first quarter valued at about $80,000. 60.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Brian Szymanski sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $8.32, for a total transaction of $108,160.00. Following the completion of the sale, the chief accounting officer now owns 89,024 shares of the company’s stock, valued at $740,679.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Piper Sandler increased their target price on Select Water Solutions from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, August 14th. Citigroup increased their target price on Select Water Solutions from $8.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, July 18th.

View Our Latest Report on WTTR

Select Water Solutions Trading Down 2.3 %

Shares of WTTR stock opened at $7.48 on Friday. The stock has a market cap of $897 million, a price-to-earnings ratio of 12.25 and a beta of 1.96. The stock has a 50-day moving average of $7.99 and a 200-day moving average of $7.86. The company has a current ratio of 2.51, a quick ratio of 2.30 and a debt-to-equity ratio of 0.08. Select Water Solutions, Inc. has a 1-year low of $5.51 and a 1-year high of $9.84.

Select Water Solutions (NYSE:WTTR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $404.63 million during the quarter, compared to analyst estimates of $420.36 million. Select Water Solutions had a net margin of 3.89% and a return on equity of 7.23%. On average, equities research analysts forecast that Select Water Solutions, Inc. will post 0.83 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 7th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.20 annualized dividend and a dividend yield of 2.68%. Select Water Solutions’s payout ratio is 32.79%.

About Select Water Solutions

(Free Report)

Select Water Solutions, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and gas industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Oilfield Chemicals. The Water Services segment provides water-related services, including water transfer, flow back 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 on-site rental equipment and workforce accommodation services.