Select Water Solutions, Inc. (NYSE:WTTR) has been making waves in the energy industry with its innovative water management and chemical solutions. As a result, Inspire Investing LLC, a prominent hedge fund, recently decreased its stake in the company by 16.7%, according to its latest filing with the Securities & Exchange Commission. Despite this reduction, Inspire Investing LLC still holds a significant stock position of $463,000 in Select Water Solutions.
Other institutional investors have also taken notice of Select Water Solutions’ potential. Principal Financial Group Inc. acquired a new position in the company in the third quarter, while Geode Capital Management LLC and Foundry Partners LLC increased their holdings by 7.9% and 29.8%, respectively. Barclays PLC also joined in, boosting its position by 319.3%, and Harbor Capital Advisors Inc. increased its holdings by an impressive 148.1%.
Select Water Solutions’ success has also been reflected in its stock performance. The company’s shares on the NYSE (WTTR) opened at $13.91 on Friday, with a market capitalization of $1.66 billion. Its current ratio of 1.78 and quick ratio of 1.62 indicate a strong financial position for the company. Additionally, Select Water Solutions’ beta of 1.76 suggests that the stock is 76% more volatile than the market as a whole, making it an attractive option for investors seeking potential high returns.
In November 2019, Select Water Solutions reported its quarterly earnings, exceeding analysts’ expectations with earnings per share of $0.15. The company’s revenue for the quarter was also strong at $371.35 million, beating the consensus estimate of $352.98 million. With a return on equity of 6.65% and a net margin of 4.05%, Select Water Solutions continues to prove its efficiency and profitability in the energy industry.
Investors can also look forward to a quarterly dividend from Select Water Solutions, with a payout ratio of 47.46%. The ex-dividend date for this dividend is February 4th, and stockholders of record on February 14th will receive a dividend of $0.07 per share. This represents an annualized dividend of $0.28 and a dividend yield of 2.01%.
Analysts have also recognized the potential of Select Water Solutions, with Citigroup raising their price target from $14.00 to $18.00 and giving the stock a “buy” rating in a recent research report. With a strong financial performance, innovative solutions, and recognition from analysts, Select Water Solutions is poised for future growth and success in the energy industry.
For more information on Select Water Solutions and its stock performance, visit the company’s profile on HoldingsChannel.com. Stay updated on the latest news and ratings for Select Water Solutions by subscribing to MarketBeat.com’s free daily email newsletter.