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

Raymond James Financial Inc. acquired a new stake in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,238,518 shares of the company's stock, valued at approximately $29,663,000. Raymond James Financial Inc. owned approximately 2.13% of Aris Water Solutions at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of Aris Water Solutions in the fourth quarter valued at $33,000. Meeder Asset Management Inc. purchased a new position in shares of Aris Water Solutions in the third quarter valued at $39,000. SG Americas Securities LLC grew its holdings in shares of Aris Water Solutions by 48.1% in the fourth quarter. SG Americas Securities LLC now owns 10,941 shares of the company's stock valued at $262,000 after purchasing an additional 3,554 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Aris Water Solutions in the fourth quarter valued at $279,000. Finally, Bailard Inc. purchased a new position in shares of Aris Water Solutions in the fourth quarter valued at $280,000. 39.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Aris Water Solutions

In other news, insider Nicholas A. Patterson sold 8,299 shares of Aris Water Solutions stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $30.60, for a total transaction of $253,949.40. Following the completion of the sale, the insider now directly owns 58,228 shares in the company, valued at approximately $1,781,776.80. This trade represents a 12.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephan E. Tompsett sold 20,000 shares of Aris Water Solutions stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the sale, the chief financial officer now owns 140,509 shares of the company's stock, valued at approximately $4,215,270. This trade represents a 12.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 948,881 shares of company stock worth $24,246,969. 23.06% of the stock is currently owned by insiders.

Remove Ads

Analyst Ratings Changes

A number of research analysts recently weighed in on ARIS shares. Citigroup reissued a "neutral" rating and issued a $26.00 target price (up from $18.00) on shares of Aris Water Solutions in a report on Wednesday, January 8th. US Capital Advisors lowered shares of Aris Water Solutions from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Stifel Nicolaus raised their target price on shares of Aris Water Solutions from $26.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, December 17th. The Goldman Sachs Group raised their price target on Aris Water Solutions from $21.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Evercore ISI downgraded Aris Water Solutions from an "outperform" rating to an "in-line" rating and raised their price target for the stock from $25.00 to $27.00 in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.00.

Aris Water Solutions Trading Up 1.5 %

ARIS traded up $0.45 during trading on Tuesday, reaching $29.44. The company had a trading volume of 1,188,422 shares, compared to its average volume of 496,050. The stock has a market cap of $1.72 billion, a P/E ratio of 36.80 and a beta of 1.88. The business has a 50 day simple moving average of $27.75 and a 200-day simple moving average of $23.18. Aris Water Solutions, Inc. has a 52 week low of $12.44 and a 52 week high of $32.56. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62.

Aris Water Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.90%. This is an increase from Aris Water Solutions's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, March 13th. Aris Water Solutions's dividend payout ratio (DPR) is 70.00%.

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.