State Street Corp Boosts Holdings in Aris Water Solutions, Inc. (NYSE:ARIS)

State Street Corp increased its position in Aris Water Solutions, Inc. (NYSE:ARIS) by 13.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 662,324 shares of the company’s stock after buying an additional 80,490 shares during the quarter. State Street Corp’s holdings in Aris Water Solutions were worth $11,173,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in Aris Water Solutions by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 44,083 shares of the company’s stock valued at $691,000 after buying an additional 758 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aris Water Solutions in the second quarter worth about $27,000. Kings Path Partners LLC boosted its holdings in Aris Water Solutions by 2.6% in the third quarter. Kings Path Partners LLC now owns 67,234 shares of the company’s stock valued at $1,134,000 after purchasing an additional 1,735 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Aris Water Solutions during the 3rd quarter valued at approximately $39,000. Finally, New York State Teachers Retirement System grew its stake in 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 in the last quarter. 39.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Aris Water Solutions

In other news, Director Debra Coy sold 1,500 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.39, for a total value of $38,085.00. Following the completion of the sale, the director now directly owns 42,082 shares of the company’s stock, valued at approximately $1,068,461.98. This represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder S Corp Gable sold 38,739 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $25.03, for a total transaction of $969,637.17. Following the completion of the sale, the insider now owns 3,111,738 shares in the company, valued at $77,886,802.14. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,970 shares of company stock worth $2,482,749 over the last 90 days. Insiders own 23.06% of the company’s stock.

Aris Water Solutions Stock Performance

Shares of ARIS stock opened at $25.24 on Thursday. Aris Water Solutions, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $27.94. The stock’s 50-day moving average is $22.84 and its two-hundred day moving average is $18.43. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market cap of $1.47 billion, a P/E ratio of 31.55 and a beta of 1.91.

Aris Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given 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 yield of 1.66%. Aris Water Solutions’s payout ratio is currently 52.50%.

Analyst Upgrades and Downgrades

ARIS has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Aris Water Solutions from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. US Capital Advisors downgraded Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on Aris Water Solutions from $21.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group increased their target price on Aris Water Solutions from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. downgraded Aris Water Solutions from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $19.00 to $22.00 in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.