Ranger Investment Management L.P. Has $43.16 Million Stake in Aris Water Solutions, Inc. (NYSE:ARIS)

Ranger Investment Management L.P. reduced its stake in Aris Water Solutions, Inc. (NYSE:ARIS) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,801,957 shares of the company’s stock after selling 257,149 shares during the period. Aris Water Solutions makes up 2.7% of Ranger Investment Management L.P.’s portfolio, making the stock its 8th largest holding. Ranger Investment Management L.P. owned approximately 3.09% of Aris Water Solutions worth $43,157,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Aris Water Solutions during the fourth quarter valued at approximately $29,663,000. Wellington Management Group LLP increased its stake in Aris Water Solutions by 1.0% in the fourth quarter. Wellington Management Group LLP now owns 965,008 shares of the company’s stock worth $23,112,000 after purchasing an additional 9,395 shares during the period. State Street Corp increased its stake in Aris Water Solutions by 13.8% in the 3rd quarter. State Street Corp now owns 662,324 shares of the company’s stock worth $11,173,000 after buying an additional 80,490 shares during the period. Geode Capital Management LLC boosted its position in Aris Water Solutions by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 619,349 shares of the company’s stock valued at $10,450,000 after buying an additional 18,304 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Aris Water Solutions by 116.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 402,093 shares of the company’s stock worth $6,783,000 after acquiring an additional 216,158 shares in the last quarter. Hedge funds and other institutional investors own 39.71% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.70, for a total value of $27,700,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas A. Patterson sold 8,299 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $30.60, for a total value of $253,949.40. Following the transaction, the insider now owns 58,228 shares of the company’s stock, valued at approximately $1,781,776.80. The trade was a 12.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,070,604 shares of company stock worth $29,817,145. 23.06% of the stock is owned by corporate insiders.

Aris Water Solutions Stock Performance

NYSE ARIS opened at $24.38 on Wednesday. Aris Water Solutions, Inc. has a 12-month low of $12.44 and a 12-month high of $33.95. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $28.76 and its two-hundred day moving average is $24.81. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 30.48 and a beta of 1.81.

Aris Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.14 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.56 dividend on an annualized basis and a yield of 2.30%. This is a positive change from Aris Water Solutions’s previous quarterly dividend of $0.11. Aris Water Solutions’s dividend payout ratio is presently 70.00%.

Analysts Set New Price Targets

ARIS has been the subject of a number of analyst reports. Evercore ISI cut Aris Water Solutions from an “outperform” rating to an “in-line” rating and upped their price objective for the stock from $25.00 to $27.00 in a research note on Wednesday, January 15th. The Goldman Sachs Group boosted their price target on Aris Water Solutions from $21.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup reiterated a “neutral” rating and issued a $26.00 price objective (up previously from $18.00) on shares of Aris Water Solutions in a research note on Wednesday, January 8th. Stifel Nicolaus upped their price target on shares of Aris Water Solutions from $26.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company increased their target price on shares of Aris Water Solutions from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.00.

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.