Assenagon Asset Management S.A. Invests $772,000 in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)

Assenagon Asset Management S.A. purchased a new position in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,500 shares of the company’s stock, valued at approximately $772,000. Assenagon Asset Management S.A. owned 0.05% of Solaris Energy Infrastructure at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SEI. Riverview Trust Co bought a new stake in Solaris Energy Infrastructure during the first quarter valued at $47,000. California State Teachers Retirement System bought a new stake in Solaris Energy Infrastructure during the fourth quarter valued at $52,000. GAMMA Investing LLC bought a new stake in Solaris Energy Infrastructure during the first quarter valued at $435,000. Retirement Planning Group LLC bought a new stake in Solaris Energy Infrastructure during the first quarter valued at $802,000. Finally, Rhumbline Advisers bought a new stake in Solaris Energy Infrastructure during the first quarter valued at $962,000. 67.44% of the stock is owned by institutional investors.

Insider Transactions at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, CEO William A. Zartler purchased 10,000 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Wednesday, May 21st. The shares were bought at an average price of $21.78 per share, for a total transaction of $217,800.00. Following the acquisition, the chief executive officer now directly owns 1,039,227 shares in the company, valued at approximately $22,634,364.06. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Aj Teague purchased 1,000 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $26.77 per share, for a total transaction of $26,770.00. Following the acquisition, the director now owns 98,459 shares in the company, valued at $2,635,747.43. This trade represents a 1.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 12,000 shares of company stock worth $267,150. Company insiders own 21.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SEI. Stifel Nicolaus lifted their price objective on Solaris Energy Infrastructure from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Janney Montgomery Scott started coverage on Solaris Energy Infrastructure in a research note on Tuesday, February 25th. They set a “buy” rating and a $57.00 price target for the company. Raymond James Financial started coverage on Solaris Energy Infrastructure in a research note on Friday, June 13th. They set an “outperform” rating and a $39.00 price target for the company. Northland Capmk raised Solaris Energy Infrastructure to a “strong-buy” rating in a research note on Tuesday, April 22nd. Finally, Citigroup started coverage on Solaris Energy Infrastructure in a research note on Thursday, May 22nd. They set a “buy” rating for the company. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $42.56.

Solaris Energy Infrastructure Stock Down 0.3%

SEI opened at $29.17 on Thursday. The company has a market cap of $1.97 billion, a P/E ratio of 66.30 and a beta of 1.11. The business’s 50-day moving average price is $23.52 and its 200-day moving average price is $25.76. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77. Solaris Energy Infrastructure, Inc. has a 12 month low of $10.96 and a 12 month high of $39.03.

Solaris Energy Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.48 annualized dividend and a dividend yield of 1.65%. Solaris Energy Infrastructure’s dividend payout ratio is currently 97.96%.

About Solaris Energy Infrastructure

Solaris Energy Infrastructure, Inc is a holding company, which engages in the manufacture of patented mobile proppant management systems that unload, store, and deliver proppant to oil and natural gas well sites. Its products include Mobile Proppant and Mobile Chemical Management Systems, and Inventory Management Software.