Kingsview Wealth Management LLC Takes $2.04 Million Position in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)

Kingsview Wealth Management LLC acquired a new position in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 93,849 shares of the company's stock, valued at approximately $2,042,000. Kingsview Wealth Management LLC owned 0.14% of Solaris Energy Infrastructure as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in SEI. Wayfinding Financial LLC bought a new position in Solaris Energy Infrastructure during the first quarter valued at about $29,000. Nisa Investment Advisors LLC bought a new position in Solaris Energy Infrastructure during the first quarter valued at about $41,000. Riverview Trust Co bought a new position in Solaris Energy Infrastructure during the first quarter valued at about $47,000. California State Teachers Retirement System bought a new position in Solaris Energy Infrastructure during the fourth quarter valued at about $52,000. Finally, Victory Capital Management Inc. bought a new position in Solaris Energy Infrastructure during the first quarter valued at about $195,000. 67.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Aj Teague acquired 1,000 shares of Solaris Energy Infrastructure stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $26.77 per share, with a total value of $26,770.00. Following the acquisition, the director owned 98,459 shares in the company, valued at $2,635,747.43. This represents a 1.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William A. Zartler acquired 10,000 shares of Solaris Energy Infrastructure stock in a transaction on Wednesday, May 21st. The shares were purchased at an average cost of $21.78 per share, for a total transaction of $217,800.00. Following the acquisition, the chief executive officer owned 1,039,227 shares in the company, valued at approximately $22,634,364.06. This represents a 0.97% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 12,000 shares of company stock worth $267,150. 21.20% of the stock is owned by corporate insiders.

Solaris Energy Infrastructure Price Performance

NASDAQ SEI traded up $0.14 during trading hours on Friday, reaching $29.15. 1,030,379 shares of the company's stock were exchanged, compared to its average volume of 1,115,017. The stock has a market cap of $1.97 billion, a PE ratio of 66.25 and a beta of 1.09. Solaris Energy Infrastructure, Inc. has a one year low of $10.96 and a one year high of $39.03. The firm has a fifty day moving average of $27.89 and a 200-day moving average of $26.09. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77.

Solaris Energy Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 1.65%. Solaris Energy Infrastructure's dividend payout ratio (DPR) is presently 97.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James Financial assumed coverage on Solaris Energy Infrastructure in a report on Friday, June 13th. They set an "outperform" rating and a $39.00 price objective on the stock. Citigroup assumed coverage on Solaris Energy Infrastructure in a report on Thursday, May 22nd. They set a "buy" rating on the stock. Piper Sandler lifted their price objective on Solaris Energy Infrastructure from $50.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Stifel Nicolaus decreased their price objective on Solaris Energy Infrastructure from $45.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Wall Street Zen downgraded Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Solaris Energy Infrastructure presently has an average rating of "Buy" and an average price target of $41.78.

About Solaris Energy Infrastructure

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.