Channing Capital Management LLC Cuts Stock Position in Solaris Energy Infrastructure, Inc. $SEI

Channing Capital Management LLC decreased its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 24.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,831 shares of the company’s stock after selling 85,461 shares during the period. Channing Capital Management LLC owned about 0.40% of Solaris Energy Infrastructure worth $10,705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Solaris Energy Infrastructure by 9.2% during the third quarter. Vanguard Group Inc. now owns 2,664,870 shares of the company’s stock worth $106,515,000 after purchasing an additional 224,021 shares during the period. Westwood Holdings Group Inc. increased its stake in Solaris Energy Infrastructure by 11.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,504,738 shares of the company’s stock worth $42,569,000 after buying an additional 158,338 shares during the period. Geode Capital Management LLC increased its stake in Solaris Energy Infrastructure by 10.8% during the 2nd quarter. Geode Capital Management LLC now owns 863,553 shares of the company’s stock worth $24,433,000 after buying an additional 83,914 shares during the period. Goodlander Investment Management LLC acquired a new stake in Solaris Energy Infrastructure during the 2nd quarter worth approximately $19,803,000. Finally, Honeycomb Asset Management LP purchased a new position in Solaris Energy Infrastructure in the 2nd quarter valued at approximately $19,011,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SEI shares. Piper Sandler upped their price objective on Solaris Energy Infrastructure from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Barclays upped their price target on Solaris Energy Infrastructure from $44.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Zacks Research cut Solaris Energy Infrastructure from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Raymond James Financial reissued an “outperform” rating on shares of Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Finally, Northland Securities set a $70.00 target price on shares of Solaris Energy Infrastructure in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.10.

Insiders Place Their Bets

In related news, Director Aj Teague acquired 2,310 shares of Solaris Energy Infrastructure stock in a transaction dated Wednesday, December 17th. The stock was acquired at an average price of $43.13 per share, for a total transaction of $99,630.30. Following the transaction, the director owned 106,465 shares of the company’s stock, valued at $4,591,835.45. This represents a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanda M. Brock bought 3,669 shares of the stock in a transaction dated Wednesday, December 17th. The stock was bought at an average price of $40.89 per share, with a total value of $150,025.41. Following the acquisition, the chief executive officer owned 141,080 shares in the company, valued at approximately $5,768,761.20. This represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. 21.20% of the stock is owned by insiders.

Solaris Energy Infrastructure Stock Down 1.5%

Shares of NYSE SEI opened at $49.24 on Friday. The business has a 50-day moving average of $50.78 and a two-hundred day moving average of $44.81. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 52.38 and a beta of 1.14. Solaris Energy Infrastructure, Inc. has a 1 year low of $14.27 and a 1 year high of $61.36. 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 Company Profile

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.