30,456 Shares in Aris Water Solutions, Inc. (NYSE:ARIS) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in shares of Aris Water Solutions, Inc. (NYSE:ARIS) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 30,456 shares of the company’s stock, valued at approximately $514,000. Principal Financial Group Inc. owned about 0.05% of Aris Water Solutions at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Aris Water Solutions in the second quarter worth $27,000. New York State Teachers Retirement System increased its holdings in shares of 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 buying an additional 2,346 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Aris Water Solutions during the 2nd quarter worth about $46,000. Point72 Asset Management L.P. purchased a new stake in shares of Aris Water Solutions in the 2nd quarter valued at approximately $82,000. Finally, Quadrature Capital Ltd purchased a new stake in Aris Water Solutions in the 1st quarter worth about $166,000. 39.71% of the stock is owned by institutional investors and hedge funds.

Aris Water Solutions Stock Down 1.6 %

ARIS stock opened at $26.99 on Monday. The business’s 50 day simple moving average is $18.83 and its 200 day simple moving average is $16.81. Aris Water Solutions, Inc. has a 1-year low of $7.22 and a 1-year high of $27.58. The firm has a market capitalization of $1.57 billion, a PE ratio of 33.74 and a beta of 1.62. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.105 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.42 annualized dividend and a yield of 1.56%. Aris Water Solutions’s payout ratio is currently 52.50%.

Insiders Place Their Bets

In other Aris Water Solutions news, Director Debra Coy sold 1,500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.39, for a total transaction of $38,085.00. Following the sale, the director now directly owns 42,082 shares in the company, valued at $1,068,461.98. This represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 23.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. US Capital Advisors raised shares of Aris Water Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. The Goldman Sachs Group boosted their target price on Aris Water Solutions from $18.50 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus raised their price target on shares of Aris Water Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. cut shares of Aris Water Solutions from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $19.00 to $22.00 in a research report on Wednesday, November 6th. Finally, Evercore ISI increased their target price on shares of Aris Water Solutions from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.50.

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.