Principal Financial Group Inc. Has $2.64 Million Holdings in Solaris Energy Infrastructure, Inc. $SEI

Principal Financial Group Inc. trimmed its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 25.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,032 shares of the company’s stock after selling 22,115 shares during the quarter. Principal Financial Group Inc. owned 0.10% of Solaris Energy Infrastructure worth $2,639,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada bought a new stake in Solaris Energy Infrastructure during the 1st quarter valued at $477,000. AQR Capital Management LLC acquired a new position in shares of Solaris Energy Infrastructure during the first quarter valued at about $2,475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Solaris Energy Infrastructure during the first quarter worth about $396,000. Goldman Sachs Group Inc. acquired a new stake in shares of Solaris Energy Infrastructure in the 1st quarter worth about $13,714,000. Finally, Strs Ohio acquired a new stake in shares of Solaris Energy Infrastructure in the 1st quarter worth about $28,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Solaris Energy Infrastructure Stock Up 10.4%

Shares of NYSE:SEI opened at $56.80 on Tuesday. The company has a market capitalization of $3.89 billion, a PE ratio of 60.43 and a beta of 1.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.39 and a quick ratio of 2.28. The business has a fifty day moving average price of $50.90 and a two-hundred day moving average price of $44.34. Solaris Energy Infrastructure, Inc. has a 1 year low of $14.27 and a 1 year high of $61.36.

Insider Activity at Solaris Energy Infrastructure

In related news, Director Aj Teague bought 2,310 shares of Solaris Energy Infrastructure stock in a transaction dated Wednesday, December 17th. The stock was purchased at an average cost of $43.13 per share, with a total value of $99,630.30. Following the transaction, the director directly owned 106,465 shares of the company’s stock, valued at approximately $4,591,835.45. The trade was a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laurie H. Argo sold 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $44.25, for a total transaction of $101,775.00. Following the sale, the director owned 50,039 shares of the company’s stock, valued at approximately $2,214,225.75. The trade was a 4.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 21.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Zacks Research lowered Solaris Energy Infrastructure from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Raymond James Financial reaffirmed an “outperform” rating on shares of Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a research report on Monday, December 29th. Morgan Stanley assumed coverage on shares of Solaris Energy Infrastructure in a report on Tuesday, December 2nd. They set an “overweight” rating and a $68.00 price objective on the stock. Finally, Piper Sandler upped 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 note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.10.

About Solaris Energy Infrastructure

Solaris Energy Infrastructure Fund Inc (NYSE: SEI) is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues its objective by investing primarily in equity securities of energy infrastructure companies, including master limited partnerships (MLPs) and other midstream entities. SEI is externally managed by Solaris Asset Management LP, a firm specializing in energy infrastructure investments.

The fund’s portfolio targets businesses involved in the gathering, processing, transportation, storage and terminalling of oil, natural gas and refined products.