Bank of New York Mellon Corp Buys 9,877 Shares of Solaris Energy Infrastructure, Inc. $SEI

Bank of New York Mellon Corp increased its stake in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 245,957 shares of the company’s stock after purchasing an additional 9,877 shares during the quarter. Bank of New York Mellon Corp owned 0.36% of Solaris Energy Infrastructure worth $6,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. purchased a new position in Solaris Energy Infrastructure during the second quarter worth $25,000. Strs Ohio purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth about $28,000. US Bancorp DE bought a new position in Solaris Energy Infrastructure during the 1st quarter valued at about $38,000. Nisa Investment Advisors LLC raised its position in Solaris Energy Infrastructure by 17.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,199 shares of the company’s stock worth $62,000 after purchasing an additional 333 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Solaris Energy Infrastructure in the first quarter worth about $135,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Wall Street Analysts Forecast Growth

SEI has been the topic of a number of analyst reports. Barclays upped their target price on Solaris Energy Infrastructure from $44.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Stifel Nicolaus reaffirmed 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. Wall Street Zen upgraded Solaris Energy Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Piper Sandler boosted their target price on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Citigroup upped their price target on shares of Solaris Energy Infrastructure from $38.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $51.11.

Insider Buying and Selling

In related news, major shareholder Ktr Management Company, Llc sold 2,114,783 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $50.15, for a total transaction of $106,056,367.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kyle S. Ramachandran acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the transaction, the chief financial officer owned 370,338 shares of the company’s stock, valued at $9,258,450. This represents a 0.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 2,137,533 shares of company stock valued at $106,727,467 over the last ninety days. Company insiders own 21.20% of the company’s stock.

Solaris Energy Infrastructure Stock Up 4.0%

NYSE:SEI opened at $42.89 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.39 and a quick ratio of 2.28. Solaris Energy Infrastructure, Inc. has a 1-year low of $14.27 and a 1-year high of $57.17. The company has a 50-day moving average of $46.00 and a 200 day moving average of $34.51. The firm has a market cap of $2.94 billion, a PE ratio of 45.63 and a beta of 1.12.

Solaris Energy Infrastructure (NYSE:SEI) last posted its earnings results on Monday, November 3rd. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. Solaris Energy Infrastructure had a net margin of 7.02% and a return on equity of 9.38%. The business had revenue of $166.84 million for the quarter, compared to the consensus estimate of $142.82 million. As a group, research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 0.36 EPS for the current fiscal year.

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.