Principal Financial Group Inc. Acquires Shares of 30,456 Aris Water Solutions, Inc. (NYSE:ARIS)

Principal Financial Group Inc. acquired a new stake in shares of Aris Water Solutions, Inc. (NYSE:ARIS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,456 shares of the company’s stock, valued at approximately $514,000. Principal Financial Group Inc. owned 0.05% of Aris Water Solutions at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Eagle Asset Management Inc. purchased a new position in Aris Water Solutions in the third quarter worth about $10,828,000. American Century Companies Inc. increased its position in shares of Aris Water Solutions by 140.3% during the second quarter. American Century Companies Inc. now owns 487,840 shares of the company’s stock valued at $7,644,000 after acquiring an additional 284,788 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Aris Water Solutions by 32.8% during the second quarter. Dimensional Fund Advisors LP now owns 563,976 shares of the company’s stock valued at $8,836,000 after purchasing an additional 139,259 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Aris Water Solutions by 988.8% in the third quarter. Exchange Traded Concepts LLC now owns 137,951 shares of the company’s stock worth $2,327,000 after acquiring an additional 125,281 shares during the period. Finally, Nicholas Investment Partners LP purchased a new stake in Aris Water Solutions during the 2nd quarter valued at $1,703,000. Hedge funds and other institutional investors own 39.71% of the company’s stock.

Aris Water Solutions Trading Up 1.0 %

Shares of Aris Water Solutions stock opened at $24.69 on Monday. 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 firm’s 50 day simple moving average is $24.04 and its two-hundred day simple moving average is $18.94. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 30.86 and a beta of 1.91. Aris Water Solutions, Inc. has a 12-month low of $7.74 and a 12-month high of $27.94.

Aris Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.105 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.70%. Aris Water Solutions’s payout ratio is currently 52.50%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ARIS shares. JPMorgan Chase & Co. downgraded shares of Aris Water Solutions from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $19.00 to $22.00 in a research report on Wednesday, November 6th. US Capital Advisors cut Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, November 26th. 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. Wells Fargo & Company boosted 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 note on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their price objective on Aris Water Solutions from $21.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Aris Water Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.83.

Insider Buying and Selling

In other news, Director Debra Coy sold 1,500 shares of the business’s 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder S Corp Gable sold 316,408 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $25.28, for a total value of $7,998,794.24. Following the sale, the insider now owns 2,634,791 shares of the company’s stock, valued at $66,607,516.48. The trade was a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 574,917 shares of company stock valued at $14,523,915. Corporate insiders own 23.06% of the company’s stock.

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.