Harbour Capital Advisors LLC bought a new stake in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,140 shares of the company's stock, valued at approximately $838,000.
A number of other hedge funds have also recently made changes to their positions in ARIS. Cambridge Investment Research Advisors Inc. bought a new position in Aris Water Solutions during the 1st quarter worth about $867,000. Mad River Investors purchased a new position in Aris Water Solutions in the 1st quarter worth $2,400,000. Inscription Capital LLC acquired a new position in Aris Water Solutions in the 1st quarter worth approximately $449,000. Janney Montgomery Scott LLC raised its holdings in shares of Aris Water Solutions by 233.8% during the first quarter. Janney Montgomery Scott LLC now owns 38,898 shares of the company's stock worth $1,246,000 after purchasing an additional 27,246 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Aris Water Solutions by 3,062.6% during the first quarter. Farther Finance Advisors LLC now owns 3,637 shares of the company's stock valued at $119,000 after purchasing an additional 3,522 shares during the period. 39.71% of the stock is currently owned by institutional investors.
Aris Water Solutions Price Performance
Shares of NYSE:ARIS traded down $1.11 during midday trading on Wednesday, reaching $23.44. 839,408 shares of the company's stock traded hands, compared to its average volume of 621,801. The company has a market cap of $1.39 billion, a P/E ratio of 28.58 and a beta of 1.70. The company has a fifty day simple moving average of $24.29 and a two-hundred day simple moving average of $26.32. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.87 and a current ratio of 1.87. Aris Water Solutions, Inc. has a 1 year low of $13.34 and a 1 year high of $33.95.
Aris Water Solutions (NYSE:ARIS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The business had revenue of $120.49 million for the quarter, compared to analyst estimates of $115.72 million. Aris Water Solutions had a net margin of 6.15% and a return on equity of 3.77%. Equities analysts predict that Aris Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.
Aris Water Solutions Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.39%. Aris Water Solutions's dividend payout ratio (DPR) is presently 68.29%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on ARIS shares. The Goldman Sachs Group decreased their price objective on Aris Water Solutions from $34.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wells Fargo & Company decreased their price target 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 restated a "neutral" rating on shares of Aris Water Solutions in a research report on Monday, May 12th. Finally, Wall Street Zen lowered shares of Aris Water Solutions from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.00.
Get Our Latest Research Report on ARIS
About Aris Water Solutions
(
Free Report)
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.
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