Principal Financial Group Inc. Acquires New Shares in Aris Water Solutions, Inc. (NYSE:ARIS)

Principal Financial Group Inc. bought a new stake in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 30,456 shares of the company's stock, valued at approximately $514,000. Principal Financial Group Inc. owned approximately 0.05% of Aris Water Solutions as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ARIS. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Aris Water Solutions in the 2nd quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new stake in Aris Water Solutions in the 3rd quarter valued at $39,000. New York State Teachers Retirement System grew its position in Aris Water Solutions by 2,346.0% in the third quarter. New York State Teachers Retirement System now owns 2,446 shares of the company's stock valued at $41,000 after acquiring an additional 2,346 shares during the period. Point72 Asset Management L.P. acquired a new position in Aris Water Solutions during the second quarter worth $82,000. Finally, Algert Global LLC bought a new position in shares of Aris Water Solutions during the second quarter valued at $199,000. Institutional investors own 39.71% of the company's stock.

Insider Buying and Selling

In other Aris Water Solutions news, Director Debra Coy sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.39, for a total value of $38,085.00. Following the transaction, the director now directly owns 42,082 shares of the company's stock, valued at approximately $1,068,461.98. This trade represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder S Corp Gable sold 57,731 shares of Aris Water Solutions stock in a transaction on Monday, December 16th. The stock was sold at an average price of $25.55, for a total transaction of $1,475,027.05. Following the sale, the insider now directly owns 3,165,939 shares of the company's stock, valued at $80,889,741.45. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 574,917 shares of company stock worth $14,523,915 over the last three months. 23.06% of the stock is currently owned by company insiders.

Aris Water Solutions Price Performance

Shares of ARIS traded up $0.31 during mid-day trading on Monday, hitting $25.00. 1,717,775 shares of the company traded hands, compared to its average volume of 919,658. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 31.25 and a beta of 1.94. The business has a 50-day moving average of $24.24 and a 200 day moving average of $19.01. Aris Water Solutions, Inc. has a one year low of $7.74 and a one year high of $27.94.

Aris Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Thursday, December 5th. Aris Water Solutions's dividend payout ratio (DPR) is presently 52.50%.

Analyst Ratings Changes

Several research firms have recently weighed in on ARIS. JPMorgan Chase & Co. lowered shares of Aris Water Solutions from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $19.00 to $22.00 in a report on Wednesday, November 6th. Stifel Nicolaus upped their price objective on shares of Aris Water Solutions from $26.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised their price objective on shares of Aris Water Solutions from $21.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on Aris Water Solutions from $21.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Evercore ISI raised their price target on Aris Water Solutions from $20.00 to $25.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.83.

About Aris Water Solutions

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.