Principal Financial Group Inc. Buys New Shares in Select Water Solutions, Inc. (NYSE:WTTR)

Principal Financial Group Inc. bought a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,369 shares of the company's stock, valued at approximately $483,000.

A number of other large investors have also recently modified their holdings of WTTR. Bank of New York Mellon Corp boosted its stake in shares of Select Water Solutions by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 913,138 shares of the company's stock valued at $9,771,000 after purchasing an additional 79,074 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Select Water Solutions by 2.9% during the second quarter. Rhumbline Advisers now owns 183,854 shares of the company's stock worth $1,967,000 after buying an additional 5,212 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Select Water Solutions by 1,328.1% during the second quarter. Victory Capital Management Inc. now owns 3,770,505 shares of the company's stock worth $40,344,000 after buying an additional 3,506,479 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Select Water Solutions during the second quarter worth $635,000. Finally, LSV Asset Management lifted its stake in shares of Select Water Solutions by 10.9% in the 2nd quarter. LSV Asset Management now owns 103,700 shares of the company's stock valued at $1,110,000 after acquiring an additional 10,200 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Price Performance

WTTR stock traded down $0.04 during midday trading on Monday, reaching $13.76. 762,659 shares of the stock were exchanged, compared to its average volume of 699,653. Select Water Solutions, Inc. has a 52 week low of $6.99 and a 52 week high of $15.14. The company has a fifty day moving average price of $13.40 and a 200 day moving average price of $11.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62. The stock has a market capitalization of $1.64 billion, a PE ratio of 23.32 and a beta of 1.76.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $371.35 million for the quarter, compared to analysts' expectations of $352.98 million. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. The business's quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 earnings per share. As a group, analysts expect that Select Water Solutions, Inc. will post 0.4 EPS for the current fiscal year.

Select Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, November 5th. This is an increase from Select Water Solutions's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 2.03%. Select Water Solutions's payout ratio is presently 47.46%.

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.