Raymond James Financial Inc. Cuts Stock Holdings in Aris Water Solutions, Inc. $ARIS

Key Points

• Raymond James Financial Inc. has reduced its stake in Aris Water Solutions by 6.9%, selling 85,071 shares and now holding 1,153,447 shares, valued at approximately $36.96 million.
• Aris Water Solutions reported $0.19 EPS for the last quarter, missing analysts' expectations, but had revenues of $124.09 million, exceeding estimates.
• The company announced a quarterly dividend of $0.14 per share, with an annualized yield of 2.3%, set to be paid on September 18th to investors of record on September 4th.

Raymond James Financial Inc. lessened its holdings in Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,153,447 shares of the company's stock after selling 85,071 shares during the quarter. Raymond James Financial Inc. owned approximately 1.97% of Aris Water Solutions worth $36,956,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Aris Water Solutions by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,246 shares of the company's stock valued at $365,000 after buying an additional 557 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Aris Water Solutions by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 79,589 shares of the company's stock valued at $2,550,000 after buying an additional 642 shares during the last quarter. Quarry LP purchased a new position in Aris Water Solutions in the fourth quarter valued at $27,000. Harbour Investments Inc. boosted its stake in Aris Water Solutions by 478.2% in the first quarter. Harbour Investments Inc. now owns 1,538 shares of the company's stock valued at $49,000 after acquiring an additional 1,272 shares in the last quarter. Finally, Centiva Capital LP boosted its stake in Aris Water Solutions by 11.1% in 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. Hedge funds and other institutional investors own 39.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI decreased their price objective on shares of Aris Water Solutions from $26.00 to $25.00 and set an "in-line" rating for the company in a research note on Monday, August 18th. US Capital Advisors downgraded shares of Aris Water Solutions from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Wells Fargo & Company set a $27.00 price objective on shares of Aris Water Solutions in a research note on Tuesday, August 19th. Citigroup restated a "neutral" rating on shares of Aris Water Solutions in a research note on Monday, May 12th. Finally, Capital One Financial downgraded shares of Aris Water Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Aris Water Solutions presently has an average rating of "Hold" and a consensus target price of $26.50.

Aris Water Solutions Stock Performance

Shares of ARIS traded up $0.26 during mid-day trading on Wednesday, hitting $23.96. 777,502 shares of the company's stock were exchanged, compared to its average volume of 925,939. Aris Water Solutions, Inc. has a fifty-two week low of $14.46 and a fifty-two week high of $33.95. The firm has a market capitalization of $1.42 billion, a P/E ratio of 28.87 and a beta of 1.67. The business's 50 day moving average is $22.97 and its two-hundred day moving average is $25.29. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.62.

Aris Water Solutions (NYSE:ARIS - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.05). Aris Water Solutions had a return on equity of 3.77% and a net margin of 6.00%.The business had revenue of $124.09 million for the quarter, compared to analyst estimates of $120.68 million. On average, equities analysts expect that Aris Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Aris Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.3%. Aris Water Solutions's dividend payout ratio is 67.47%.

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.