Principal Financial Group Inc. Takes Position in Select Water Solutions, Inc. (NYSE:WTTR)

Principal Financial Group Inc. acquired a new stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 43,369 shares of the company's stock, valued at approximately $483,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WTTR. GAMMA Investing LLC grew its stake in shares of Select Water Solutions by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 3,008 shares of the company's stock worth $32,000 after purchasing an additional 1,096 shares during the last quarter. Innealta Capital LLC bought a new stake in Select Water Solutions during the second quarter worth approximately $34,000. CWM LLC grew its position in Select Water Solutions by 55.2% in the second quarter. CWM LLC now owns 4,204 shares of the company's stock worth $45,000 after buying an additional 1,496 shares during the last quarter. New York State Teachers Retirement System increased its holdings 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 buying an additional 1,010 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Select Water Solutions during the 3rd quarter valued at $112,000. Institutional investors own 81.73% of the company's stock.

Select Water Solutions Trading Down 1.6 %

Shares of WTTR stock traded down $0.23 during trading hours on Monday, reaching $14.46. 759,543 shares of the stock traded hands, compared to its average volume of 1,030,612. The business has a fifty day moving average price of $11.83 and a 200 day moving average price of $11.11. Select Water Solutions, Inc. has a 1-year low of $6.99 and a 1-year high of $14.87. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.73 billion, a PE ratio of 24.51 and a beta of 1.67.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The company had revenue of $371.35 million for the quarter, compared to the consensus estimate of $352.98 million. During the same period in the previous year, the business earned $0.14 EPS. The company's revenue was down 4.6% on a year-over-year basis. On average, equities research analysts forecast that Select Water Solutions, Inc. will post 0.4 EPS for the current year.

Select Water Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from Select Water Solutions's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 1.94%. Select Water Solutions's dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analyst Weigh In

WTTR has been the topic of a number of recent research reports. Northland Securities upgraded Select Water Solutions from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $11.50 to $14.50 in a report on Thursday, August 22nd. Northland Capmk raised Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research note 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.