Bessemer Group Inc. Sells 59,756 Shares of Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Bessemer Group Inc. reduced its Solaris Energy Infrastructure stake by 21.3% in the first quarter, selling 59,756 shares and ending with 220,826 shares valued at about $12.5 million.
• Solaris reported Q1 earnings of $0.44 per share, topping consensus estimates by $0.18, on revenue of $196.24 million; analysts still expect the company to post 1.09 EPS for the year.
• Wall Street remains broadly positive on SEI, with nine Buy ratings and an average price target of $86.25, while several firms recently raised targets as high as $120.

Bessemer Group Inc. lowered its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 21.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 220,826 shares of the company's stock after selling 59,756 shares during the quarter. Bessemer Group Inc. owned 0.32% of Solaris Energy Infrastructure worth $12,478,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Solaris Energy Infrastructure by 2,120.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company's stock worth $67,408,000 after purchasing an additional 1,400,311 shares during the last quarter. Value Aligned Research Advisors LLC acquired a new stake in Solaris Energy Infrastructure in the 4th quarter valued at $44,864,000. Valiant Capital Management L.P. acquired a new stake in Solaris Energy Infrastructure in the 4th quarter valued at $33,765,000. Situational Awareness LP increased its stake in Solaris Energy Infrastructure by 62.3% in the 4th quarter. Situational Awareness LP now owns 1,866,500 shares of the company's stock valued at $85,803,000 after buying an additional 716,200 shares during the last quarter. Finally, Goodlander Investment Management LLC bought a new stake in Solaris Energy Infrastructure during the 2nd quarter worth about $19,803,000. 67.44% of the stock is owned by institutional investors.

Solaris Energy Infrastructure Stock Performance

NYSE SEI opened at $60.25 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 1.23. The firm's fifty day moving average price is $72.91 and its two-hundred day moving average price is $62.76. Solaris Energy Infrastructure, Inc. has a 1 year low of $24.57 and a 1 year high of $86.19. The firm has a market capitalization of $4.43 billion, a P/E ratio of 67.70 and a beta of 1.17.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.18. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The firm had revenue of $196.24 million during the quarter. As a group, research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.09 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on SEI. Piper Sandler increased their price objective on shares of Solaris Energy Infrastructure from $65.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Northland Securities set a $104.00 target price on Solaris Energy Infrastructure in a research report on Friday, June 12th. Citigroup upped their target price on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Wolfe Research initiated coverage on Solaris Energy Infrastructure in a research report on Monday, July 6th. They set an "outperform" rating and a $120.00 price target for the company. Finally, Stifel Nicolaus raised their price target on Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Solaris Energy Infrastructure currently has an average rating of "Moderate Buy" and an average price target of $86.25.

Insider Buying and Selling

In other Solaris Energy Infrastructure news, Director Laurie H. Argo sold 5,200 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $72.88, for a total transaction of $378,976.00. Following the transaction, the director owned 44,839 shares of the company's stock, valued at $3,267,866.32. The trade was a 10.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aj Teague acquired 2,750 shares of the company's stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $72.98 per share, for a total transaction of $200,695.00. Following the purchase, the director directly owned 11,060 shares of the company's stock, valued at approximately $807,158.80. This trade represents a 33.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 4,099,593 shares of company stock worth $297,782,099 in the last 90 days. 20.23% of the stock is owned by corporate insiders.

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.

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