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

Picton Mahoney Asset Management cut its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

Other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust increased its holdings in shares of Select Water Solutions by 24.9% during 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. Amundi increased its holdings in shares of Select Water Solutions by 83.8% during 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. Northwest & Ethical Investments L.P. acquired a new position in shares of Select Water Solutions during the 3rd quarter worth approximately $107,000. Atria Investments Inc acquired a new position in shares of Select Water Solutions during the 4th quarter worth approximately $134,000. Finally, Truist Financial Corp acquired a new position in shares of Select Water Solutions during the 4th quarter worth approximately $134,000. 81.73% of the stock is owned by institutional investors and hedge funds.

Select Water Solutions Stock Performance

NYSE WTTR traded down $0.03 on Thursday, reaching $10.12. The stock had a trading volume of 1,577,481 shares, compared to its average volume of 963,274. 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 firm has a fifty day moving average of $12.33 and a two-hundred day moving average of $12.38. Select Water Solutions, Inc. has a 1-year low of $8.60 and a 1-year high of $15.14. The company has a market cap of $1.21 billion, a P/E ratio of 33.72 and a beta of 1.77.

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Select Water Solutions (NYSE:WTTR - Get Free Report) 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 company had revenue of $349.05 million for the quarter, compared to the consensus estimate 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 research analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, February 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.77%. Select Water Solutions's payout ratio is 93.33%.

Insider Activity

In related news, CEO John Schmitz sold 73,450 shares of the company's 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 directly owns 2,825,128 shares in the company, valued at $36,811,417.84. This represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.40% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup upped their price objective on Select Water Solutions from $14.00 to $18.00 and gave the company a "buy" rating in a report on Friday, January 10th.

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.