Allspring Global Investments Holdings LLC Cuts Stock Position in Aris Water Solutions, Inc. (NYSE:ARIS)

Allspring Global Investments Holdings LLC reduced its holdings in Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 76.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,560 shares of the company's stock after selling 126,493 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.07% of Aris Water Solutions worth $1,268,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Aris Water Solutions by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,246 shares of the company's stock valued at $365,000 after acquiring an additional 557 shares in the last quarter. Quarry LP bought a new stake in shares of Aris Water Solutions during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC bought a new stake in shares of Aris Water Solutions during the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Aris Water Solutions during the fourth quarter valued at approximately $33,000. Finally, Centiva Capital LP increased its holdings in shares of Aris Water Solutions by 11.1% during the fourth quarter. Centiva Capital LP now owns 13,647 shares of the company's stock valued at $327,000 after acquiring an additional 1,368 shares in the last quarter. 39.71% of the stock is currently owned by institutional investors.

Aris Water Solutions Stock Up 0.3%

Shares of NYSE:ARIS traded up $0.08 during mid-day trading on Friday, hitting $23.03. 691,100 shares of the company traded hands, compared to its average volume of 646,860. The stock has a market cap of $1.36 billion, a P/E ratio of 28.09 and a beta of 1.69. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.63. Aris Water Solutions, Inc. has a 12-month low of $13.34 and a 12-month high of $33.95. The stock has a 50-day moving average price of $23.85 and a two-hundred day moving average price of $26.21.

Aris Water Solutions (NYSE:ARIS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Aris Water Solutions had a return on equity of 3.77% and a net margin of 6.15%. The business had revenue of $120.49 million for the quarter, compared to analysts' expectations of $115.72 million. On average, equities research analysts forecast that Aris Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Aris Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a $0.14 dividend. The ex-dividend date was Thursday, June 5th. This represents a $0.56 annualized dividend and a yield of 2.43%. Aris Water Solutions's dividend payout ratio is currently 68.29%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARIS. Wall Street Zen downgraded Aris Water Solutions from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on Aris Water Solutions from $29.00 to $23.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Citigroup reaffirmed a "neutral" rating on shares of Aris Water Solutions in a research report on Monday, May 12th. Finally, The Goldman Sachs Group cut their target price on Aris Water Solutions from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Aris Water Solutions has a consensus rating of "Hold" and a consensus target price of $26.00.

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.