Principal Financial Group Inc. Invests $514,000 in Aris Water Solutions, Inc. (NYSE:ARIS)

Principal Financial Group Inc. bought a new stake in Aris Water Solutions, Inc. (NYSE:ARIS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,456 shares of the company’s stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARIS. Sequoia Financial Advisors LLC acquired a new stake in shares of Aris Water Solutions in the 2nd quarter worth about $554,000. American Century Companies Inc. raised its position in shares of Aris Water Solutions by 140.3% during the 2nd quarter. American Century Companies Inc. now owns 487,840 shares of the company’s stock valued at $7,644,000 after buying an additional 284,788 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Aris Water Solutions during the 3rd quarter valued at about $2,080,000. Exchange Traded Concepts LLC boosted its stake in shares of Aris Water Solutions by 988.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 137,951 shares of the company’s stock valued at $2,327,000 after purchasing an additional 125,281 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in Aris Water Solutions during the 2nd quarter worth approximately $765,000. Institutional investors and hedge funds own 39.71% of the company’s stock.

Aris Water Solutions Trading Down 1.6 %

ARIS stock opened at $26.99 on Monday. Aris Water Solutions, Inc. has a 12 month low of $7.22 and a 12 month high of $27.58. The company has a market capitalization of $1.57 billion, a PE ratio of 33.74 and a beta of 1.62. The firm’s 50-day moving average is $18.83 and its 200 day moving average is $16.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72.

Aris Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 5th. Aris Water Solutions’s dividend payout ratio (DPR) is presently 52.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Evercore ISI boosted 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 report on Wednesday, November 6th. US Capital Advisors raised Aris Water Solutions from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. The Goldman Sachs Group increased their target price on Aris Water Solutions from $18.50 to $21.00 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 raised their target price for the stock from $19.00 to $22.00 in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus raised their price target on Aris Water Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Aris Water Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Insider Activity

In related news, Director Debra Coy sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the director now owns 42,082 shares in the company, valued at $1,068,461.98. This trade represents a 3.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 23.06% of the company’s stock.

Aris Water Solutions Company 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.