Rhumbline Advisers Makes New Investment in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Rhumbline Advisers purchased 44,209 shares of Solaris Energy Infrastructure, Inc. valued at approximately $962,000, representing a 0.07% stake in the company.
• Director Edgar R. Jr. Giesinger sold 10,000 shares of the company, while CFO Kyle S. Ramachandran bought 2,000 shares, indicating mixed insider trading activity.
• Solaris Energy Infrastructure announced a quarterly dividend of $0.12 per share, with an upcoming payment date of September 26th and a dividend yield of 1.3%.

Rhumbline Advisers acquired a new stake in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 44,209 shares of the company's stock, valued at approximately $962,000. Rhumbline Advisers owned 0.07% of Solaris Energy Infrastructure at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SEI. Encompass Capital Advisors LLC acquired a new position in shares of Solaris Energy Infrastructure during the first quarter valued at approximately $78,967,000. Driehaus Capital Management LLC bought a new stake in Solaris Energy Infrastructure during the first quarter worth approximately $44,073,000. Vanguard Group Inc. bought a new stake in Solaris Energy Infrastructure during the first quarter worth approximately $35,060,000. Westwood Holdings Group Inc. bought a new stake in Solaris Energy Infrastructure during the first quarter worth approximately $29,298,000. Finally, Millennium Management LLC bought a new stake in Solaris Energy Infrastructure during the first quarter worth approximately $24,335,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Wall Street Analysts Forecast Growth

SEI has been the subject of a number of research reports. Raymond James Financial restated an "outperform" rating and set a $38.00 target price (down from $39.00) on shares of Solaris Energy Infrastructure in a report on Wednesday, July 23rd. Piper Sandler reduced 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. Wall Street Zen upgraded shares of Solaris Energy Infrastructure from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Northland Securities set a $50.00 target price on shares of Solaris Energy Infrastructure in a report on Monday, August 4th. Finally, 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 note on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to data from MarketBeat.com, Solaris Energy Infrastructure has a consensus rating of "Buy" and a consensus target price of $43.67.

Insider Activity

In related news, Director Edgar R. Jr. Giesinger sold 10,000 shares of Solaris Energy Infrastructure stock in a transaction on Monday, August 25th. The shares were sold at an average price of $28.86, for a total value of $288,600.00. Following the transaction, the director owned 90,956 shares in the company, valued at $2,624,990.16. This trade represents a 9.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher M. Powell sold 12,750 shares of Solaris Energy Infrastructure stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $30.00, for a total transaction of $382,500.00. Following the completion of the transaction, the insider owned 130,615 shares in the company, valued at $3,918,450. This trade represents a 8.89% decrease in their position. The disclosure for this sale can be found here. 21.20% of the stock is currently owned by company insiders.

Solaris Energy Infrastructure Stock Down 0.6%

Shares of Solaris Energy Infrastructure stock traded down $0.23 during midday trading on Tuesday, reaching $39.71. 3,601,579 shares of the company's stock traded hands, compared to its average volume of 1,666,911. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 67.31 and a beta of 1.15. The company's 50 day simple moving average is $30.33 and its 200 day simple moving average is $26.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.98 and a current ratio of 3.11. Solaris Energy Infrastructure, Inc. has a 52 week low of $12.48 and a 52 week high of $43.46.

Solaris Energy Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio (DPR) is 81.36%.

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.