Raymond James Financial Inc. Invests $29.66 Million in Aris Water Solutions, Inc. (NYSE:ARIS)

Raymond James Financial Inc. bought a new stake in shares of Aris Water Solutions, Inc. (NYSE:ARIS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,238,518 shares of the company’s stock, valued at approximately $29,663,000. Raymond James Financial Inc. owned 2.13% of Aris Water Solutions at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in shares of Aris Water Solutions by 1.0% during the fourth quarter. Wellington Management Group LLP now owns 965,008 shares of the company’s stock valued at $23,112,000 after purchasing an additional 9,395 shares during the period. State Street Corp boosted its position in Aris Water Solutions by 13.8% during the 3rd quarter. State Street Corp now owns 662,324 shares of the company’s stock valued at $11,173,000 after buying an additional 80,490 shares during the period. Geode Capital Management LLC grew its holdings in Aris Water Solutions by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 619,349 shares of the company’s stock worth $10,450,000 after acquiring an additional 18,304 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Aris Water Solutions by 116.3% in the third quarter. JPMorgan Chase & Co. now owns 402,093 shares of the company’s stock valued at $6,783,000 after acquiring an additional 216,158 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Aris Water Solutions by 76.9% during the fourth quarter. Invesco Ltd. now owns 365,685 shares of the company’s stock valued at $8,758,000 after acquiring an additional 159,024 shares during the last quarter. 39.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.70, for a total value of $27,700,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jeffrey K. Hunt sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $28.92, for a total transaction of $289,200.00. Following the sale, the chief accounting officer now directly owns 44,827 shares of the company’s stock, valued at $1,296,396.84. This trade represents a 18.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,070,604 shares of company stock valued at $29,817,145. 23.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ARIS shares. Evercore ISI lowered Aris Water Solutions from an “outperform” rating to an “in-line” rating and upped their price target for the company from $25.00 to $27.00 in a research report on Wednesday, January 15th. The Goldman Sachs Group boosted their price objective on shares of Aris Water Solutions from $21.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. StockNews.com lowered shares of Aris Water Solutions from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. Wells Fargo & Company increased their price target on shares of Aris Water Solutions from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, Citigroup reaffirmed a “neutral” rating and set a $26.00 price objective (up from $18.00) on shares of Aris Water Solutions in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.00.

Aris Water Solutions Price Performance

Shares of NYSE ARIS opened at $25.87 on Friday. The company has a 50 day simple moving average of $28.56 and a two-hundred day simple moving average of $25.16. Aris Water Solutions, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $33.95. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 32.34 and a beta of 1.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.72 and a current ratio of 1.72.

Aris Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.14 per share. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.56 dividend on an annualized basis and a yield of 2.16%. Aris Water Solutions’s payout ratio is presently 70.00%.

Aris Water Solutions Company Profile

Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.