State Street Corp Increases Stake in Aris Water Solutions, Inc. (NYSE:ARIS)

State Street Corp lifted its holdings in shares of Aris Water Solutions, Inc. (NYSE:ARIS) by 13.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 662,324 shares of the company’s stock after buying an additional 80,490 shares during the period. State Street Corp owned approximately 1.14% of Aris Water Solutions worth $11,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aris Water Solutions in the second quarter worth $27,000. Meeder Asset Management Inc. purchased a new position in shares of Aris Water Solutions in the 3rd quarter worth $39,000. New York State Teachers Retirement System increased its position in shares of Aris Water Solutions by 2,346.0% during the 3rd quarter. New York State Teachers Retirement System now owns 2,446 shares of the company’s stock valued at $41,000 after purchasing an additional 2,346 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Aris Water Solutions in the 2nd quarter worth about $82,000. Finally, International Assets Investment Management LLC purchased a new stake in Aris Water Solutions in the third quarter worth $2,080,000. Institutional investors own 39.71% of the company’s stock.

Insider Transactions at Aris Water Solutions

In other news, Director Debra Coy sold 1,500 shares of the business’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 completion of the transaction, the director now owns 42,082 shares of the company’s stock, valued at $1,068,461.98. The trade was a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder S Corp Gable sold 38,739 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $25.03, for a total value of $969,637.17. Following the transaction, the insider now directly owns 3,111,738 shares in the company, valued at approximately $77,886,802.14. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,970 shares of company stock valued at $2,482,749 in the last 90 days. 23.06% of the stock is currently owned by insiders.

Aris Water Solutions Price Performance

Shares of NYSE ARIS opened at $25.24 on Thursday. 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, Inc. has a one year low of $7.74 and a one year high of $27.94. The firm has a market capitalization of $1.47 billion, a P/E ratio of 31.55 and a beta of 1.91. The company’s fifty day moving average is $22.84 and its two-hundred day moving average is $18.43.

Aris Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Thursday, December 5th. Aris Water Solutions’s dividend payout ratio is currently 52.50%.

Analyst Ratings Changes

Several brokerages have recently commented on ARIS. US Capital Advisors lowered Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lowered shares of Aris Water Solutions from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $19.00 to $22.00 in a report on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of Aris Water Solutions from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Evercore ISI lifted their price objective on Aris Water Solutions from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Aris Water Solutions from $21.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Aris Water Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $24.83.

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.