Renaissance Technologies LLC Grows Position in Aris Water Solutions, Inc. (NYSE:ARIS)

Renaissance Technologies LLC raised its position in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 333,900 shares of the company's stock after purchasing an additional 93,000 shares during the quarter. Renaissance Technologies LLC owned 0.57% of Aris Water Solutions worth $7,997,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ARIS. Larson Financial Group LLC acquired a new position in shares of Aris Water Solutions in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Aris Water Solutions during the 4th quarter worth approximately $33,000. Bridge City Capital LLC increased its holdings in shares of Aris Water Solutions by 0.8% during the 4th quarter. Bridge City Capital LLC now owns 201,740 shares of the company's stock valued at $4,832,000 after purchasing an additional 1,556 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Aris Water Solutions by 38.1% in the 4th quarter. Legal & General Group Plc now owns 5,779 shares of the company's stock valued at $138,000 after purchasing an additional 1,594 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in Aris Water Solutions by 74.5% during the fourth quarter. Meeder Asset Management Inc. now owns 4,042 shares of the company's stock worth $97,000 after buying an additional 1,726 shares in the last quarter. 39.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Aris Water Solutions

In related news, COO Brunt David Dylan Van sold 32,305 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $30.15, for a total value of $973,995.75. Following the completion of the sale, the chief operating officer now owns 85,656 shares of the company's stock, valued at approximately $2,582,528.40. This represents a 27.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholas A. Patterson sold 8,299 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $30.60, for a total transaction of $253,949.40. Following the completion of the transaction, the insider now owns 58,228 shares in the company, valued at $1,781,776.80. The trade was a 12.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,070,604 shares of company stock valued at $29,817,145. Corporate insiders own 23.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup reissued a "neutral" rating and set a $26.00 target price (up from $18.00) on shares of Aris Water Solutions in a research note on Wednesday, January 8th. StockNews.com raised Aris Water Solutions from a "sell" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company upped their target price on 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, Evercore ISI lowered shares of Aris Water Solutions from an "outperform" rating to an "in-line" rating and boosted their price target for the stock from $25.00 to $27.00 in a report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating and two have assigned 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

ARIS stock traded up $0.41 during midday trading on Wednesday, reaching $25.00. The stock had a trading volume of 120,509 shares, compared to its average volume of 567,393. Aris Water Solutions, Inc. has a 52-week low of $13.34 and a 52-week high of $33.95. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 31.25 and a beta of 1.81. The company's fifty day simple moving average is $28.36 and its 200 day simple moving average is $25.37. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.62.

Aris Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Aris Water Solutions's previous quarterly dividend of $0.11. This represents a $0.56 dividend on an annualized basis and a yield of 2.24%. Aris Water Solutions's payout ratio is presently 70.00%.

Aris Water Solutions 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.