Russell Investments Group Ltd. bought a new position in shares of Solaris Energy Infrastructure, Inc. (NASDAQ:SEI – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 77,879 shares of the company’s stock, valued at approximately $1,695,000. Russell Investments Group Ltd. owned about 0.12% of Solaris Energy Infrastructure at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new position in Solaris Energy Infrastructure during the first quarter worth about $264,000. GW&K Investment Management LLC acquired a new position in Solaris Energy Infrastructure during the first quarter worth about $9,437,000. Informed Momentum Co LLC acquired a new position in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $2,458,000. Acuitas Investments LLC acquired a new position in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $3,728,000. Finally, Emerald Advisers LLC acquired a new position in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $15,188,000. Institutional investors and hedge funds own 67.44% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on SEI. Stifel Nicolaus reissued a “buy” rating and issued a $45.00 price objective (up previously from $41.00) on shares of Solaris Energy Infrastructure in a research report on Friday, July 25th. Northland Securities set a $50.00 price objective on shares of Solaris Energy Infrastructure in a research report on Monday, August 4th. Raymond James Financial reissued an “outperform” rating and issued a $38.00 price objective (down previously from $39.00) on shares of Solaris Energy Infrastructure in a research report on Wednesday, July 23rd. Vertical Research initiated coverage on shares of Solaris Energy Infrastructure in a research report on Wednesday, May 14th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Piper Sandler lowered their target price on shares of Solaris Energy Infrastructure from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $43.67.
Solaris Energy Infrastructure Price Performance
Solaris Energy Infrastructure stock opened at $29.89 on Wednesday. Solaris Energy Infrastructure, Inc. has a 1 year low of $10.96 and a 1 year high of $39.03. The firm has a 50 day moving average price of $29.99 and a 200 day moving average price of $26.23. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 67.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.40 and a current ratio of 3.61.
Solaris Energy Infrastructure Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure’s payout ratio is currently 81.36%.
Insider Transactions at Solaris Energy Infrastructure
In other Solaris Energy Infrastructure news, Director Edgar R. Jr. Giesinger sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $28.86, for a total transaction of $288,600.00. Following the completion of the sale, the director directly owned 90,956 shares in the company, valued at $2,624,990.16. The trade was a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.20% of the stock is currently owned by corporate insiders.
Solaris Energy Infrastructure Company Profile
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.
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