Arizona State Retirement System Takes $213,000 Position in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)

Arizona State Retirement System purchased a new position in shares of Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,800 shares of the company's stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. California State Teachers Retirement System purchased a new stake in Solaris Energy Infrastructure during the fourth quarter worth about $52,000. GAMMA Investing LLC acquired a new stake in shares of Solaris Energy Infrastructure in the first quarter worth $435,000. Rhumbline Advisers acquired a new stake in Solaris Energy Infrastructure during the 1st quarter valued at $962,000. Retirement Planning Group LLC acquired a new stake in Solaris Energy Infrastructure during the 1st quarter valued at $802,000. Finally, Riverview Trust Co bought a new position in Solaris Energy Infrastructure during the 1st quarter valued at $47,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Vertical Research assumed coverage on shares of Solaris Energy Infrastructure in a report on Wednesday, May 14th. They issued a "buy" rating and a $36.00 target price on the stock. Northland Capmk upgraded shares of Solaris Energy Infrastructure to a "strong-buy" rating in a report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a report on Wednesday, June 25th. Northland Securities assumed coverage on shares of Solaris Energy Infrastructure in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $37.00 target price on the stock. Finally, Stifel Nicolaus dropped their target price on shares of Solaris Energy Infrastructure from $45.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Solaris Energy Infrastructure has a consensus rating of "Buy" and a consensus target price of $41.44.

Solaris Energy Infrastructure Stock Performance

Shares of Solaris Energy Infrastructure stock opened at $28.43 on Wednesday. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $27.89 and a two-hundred day moving average price of $26.07. Solaris Energy Infrastructure, Inc. has a 1-year low of $10.96 and a 1-year high of $39.03. The company has a market cap of $1.92 billion, a P/E ratio of 64.61 and a beta of 1.09.

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 $0.12 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.48 annualized dividend and a yield of 1.69%. Solaris Energy Infrastructure's payout ratio is 97.96%.

Insider Activity

In related news, CEO William A. Zartler purchased 10,000 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was bought at an average price of $21.78 per share, for a total transaction of $217,800.00. Following the purchase, the chief executive officer directly owned 1,039,227 shares in the company, valued at approximately $22,634,364.06. This trade represents a 0.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aj Teague bought 1,000 shares of the stock in a transaction on Friday, May 23rd. The shares were acquired at an average cost of $26.77 per share, for a total transaction of $26,770.00. Following the acquisition, the director directly owned 98,459 shares in the company, valued at approximately $2,635,747.43. This trade represents a 1.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 12,000 shares of company stock worth $267,150. 21.20% of the stock is owned by insiders.

Solaris Energy Infrastructure Company 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.

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