Franklin Resources Inc. Purchases 19,532 Shares of Solaris Energy Infrastructure, Inc. $SEI

Franklin Resources Inc. boosted its position in Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 68.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,153 shares of the company’s stock after buying an additional 19,532 shares during the quarter. Franklin Resources Inc. owned approximately 0.07% of Solaris Energy Infrastructure worth $1,362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in shares of Solaris Energy Infrastructure by 17.8% in the second quarter. Nisa Investment Advisors LLC now owns 2,199 shares of the company’s stock valued at $62,000 after purchasing an additional 333 shares during the last quarter. Ballentine Partners LLC boosted its stake in Solaris Energy Infrastructure by 6.0% during the 2nd quarter. Ballentine Partners LLC now owns 10,210 shares of the company’s stock valued at $289,000 after purchasing an additional 575 shares during the period. Congress Asset Management Co. grew its holdings in Solaris Energy Infrastructure by 0.4% in the 2nd quarter. Congress Asset Management Co. now owns 202,041 shares of the company’s stock valued at $5,716,000 after buying an additional 786 shares during the last quarter. Assetmark Inc. bought a new position in Solaris Energy Infrastructure in the 2nd quarter worth approximately $25,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Solaris Energy Infrastructure by 14.9% during the second quarter. PNC Financial Services Group Inc. now owns 8,986 shares of the company’s stock worth $254,000 after buying an additional 1,167 shares during the last quarter. Institutional investors and hedge funds own 67.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley began coverage on shares of Solaris Energy Infrastructure in a report on Tuesday. They set an “overweight” rating and a $68.00 price objective on the stock. Barclays increased their target price on shares of Solaris Energy Infrastructure from $44.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a research note on Monday. Finally, Citigroup raised their price objective on Solaris Energy Infrastructure from $38.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $52.80.

Insider Activity at Solaris Energy Infrastructure

In related news, CEO William A. Zartler purchased 10,000 shares of the stock in a transaction on Tuesday, September 9th. The shares were purchased at an average cost of $24.83 per share, for a total transaction of $248,300.00. Following the completion of the transaction, the chief executive officer directly owned 1,049,227 shares of the company’s stock, valued at approximately $26,052,306.41. The trade was a 0.96% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kyle S. Ramachandran bought 2,000 shares of Solaris Energy Infrastructure stock in a transaction dated Tuesday, September 9th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the purchase, the chief financial officer directly owned 370,338 shares in the company, valued at $9,258,450. This represents a 0.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 21.20% of the stock is owned by insiders.

Solaris Energy Infrastructure Stock Performance

NYSE SEI opened at $55.30 on Friday. Solaris Energy Infrastructure, Inc. has a twelve month low of $14.27 and a twelve month high of $57.17. The company has a quick ratio of 2.28, a current ratio of 2.39 and a debt-to-equity ratio of 0.69. The stock has a market cap of $3.79 billion, a P/E ratio of 58.83 and a beta of 1.14. The company’s 50-day simple moving average is $48.62 and its 200 day simple moving average is $36.41.

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

Solaris Energy Infrastructure 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.