Principal Financial Group Inc. Buys 3,412 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Principal Financial Group Inc. raised its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,781 shares of the company’s stock after buying an additional 3,412 shares during the period. Principal Financial Group Inc.’s holdings in Select Water Solutions were worth $619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Creative Planning purchased a new position in Select Water Solutions in the third quarter worth $112,000. New York State Teachers Retirement System lifted its stake in Select Water Solutions by 13.8% during the third quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock worth $93,000 after purchasing an additional 1,010 shares during the last quarter. Verity Asset Management Inc. purchased a new position in shares of Select Water Solutions in the 3rd quarter worth about $228,000. Entropy Technologies LP bought a new position in shares of Select Water Solutions during the 3rd quarter valued at about $140,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Select Water Solutions during the 3rd quarter valued at about $220,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup upped their target price on Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, January 10th.

Select Water Solutions Price Performance

Shares of NYSE:WTTR opened at $10.16 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.65 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.21 billion, a PE ratio of 33.85 and a beta of 1.77. The company’s fifty day moving average is $13.05 and its 200 day moving average is $12.48. Select Water Solutions, Inc. has a 52 week low of $8.38 and a 52 week high of $15.14.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The company had revenue of $349.05 million for the quarter, compared to the consensus estimate of $333.62 million. Research analysts anticipate that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were paid a $0.07 dividend. 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 2.76%. Select Water Solutions’s dividend payout ratio (DPR) is currently 93.33%.

Insider Buying and Selling at Select Water Solutions

In related news, CEO John Schmitz sold 26,550 shares of Select Water Solutions stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $13.16, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.10% of the company’s stock.

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.