Perigon Wealth Management LLC increased its holdings in Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 98.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,527 shares of the company's stock after acquiring an additional 13,167 shares during the quarter. Perigon Wealth Management LLC's holdings in Aris Water Solutions were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Aris Water Solutions in the fourth quarter worth $27,000. Larson Financial Group LLC purchased a new stake in Aris Water Solutions in the fourth quarter worth $28,000. SBI Securities Co. Ltd. purchased a new stake in Aris Water Solutions in the fourth quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Aris Water Solutions in the fourth quarter worth $52,000. Finally, Farther Finance Advisors LLC grew its stake in Aris Water Solutions by 3,062.6% in the first quarter. Farther Finance Advisors LLC now owns 3,637 shares of the company's stock worth $119,000 after purchasing an additional 3,522 shares during the period. Hedge funds and other institutional investors own 39.71% of the company's stock.
Wall Street Analyst Weigh In
ARIS has been the topic of several recent research reports. Citigroup reaffirmed a "neutral" rating on shares of Aris Water Solutions in a research note on Monday, May 12th. Wells Fargo & Company reduced their price target on Aris Water Solutions from $29.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. The Goldman Sachs Group reduced their price target on Aris Water Solutions from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Wall Street Zen cut Aris Water Solutions from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.00.
View Our Latest Stock Report on ARIS
Aris Water Solutions Trading Down 1.7%
NYSE ARIS opened at $23.49 on Friday. Aris Water Solutions, Inc. has a 12 month low of $13.34 and a 12 month high of $33.95. The stock has a market cap of $1.39 billion, a P/E ratio of 28.65 and a beta of 1.70. The stock's fifty day moving average price is $24.15 and its 200-day moving average price is $26.28. 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 (NYSE:ARIS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. The firm had revenue of $120.49 million for the quarter, compared to the consensus estimate of $115.72 million. Aris Water Solutions had a return on equity of 3.77% and a net margin of 6.15%. As a group, equities analysts forecast that Aris Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.
Aris Water Solutions Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Thursday, June 5th. Aris Water Solutions's payout ratio is currently 68.29%.
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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