Congress Asset Management Co. Takes $4.38 Million Position in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)

Congress Asset Management Co. purchased a new position in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 201,255 shares of the company's stock, valued at approximately $4,379,000. Congress Asset Management Co. owned about 0.30% of Solaris Energy Infrastructure at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rhumbline Advisers acquired a new stake in shares of Solaris Energy Infrastructure in the 1st quarter valued at $962,000. Retirement Planning Group LLC bought a new position in Solaris Energy Infrastructure during the first quarter valued at about $802,000. GAMMA Investing LLC acquired a new stake in shares of Solaris Energy Infrastructure in the first quarter worth about $435,000. Riverview Trust Co bought a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth about $47,000. Finally, California State Teachers Retirement System bought a new stake in shares of Solaris Energy Infrastructure during the 4th quarter worth about $52,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Solaris Energy Infrastructure Stock Up 11.0%

Shares of SEI opened at $30.11 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.40 and a current ratio of 3.61. The company has a 50-day simple moving average of $22.00 and a 200-day simple moving average of $25.56. Solaris Energy Infrastructure, Inc. has a 52 week low of $10.96 and a 52 week high of $39.03. The firm has a market capitalization of $2.03 billion, a P/E ratio of 68.43 and a beta of 1.11.

Solaris Energy Infrastructure Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.48 annualized dividend and a yield of 1.59%. Solaris Energy Infrastructure's dividend payout ratio (DPR) is 97.96%.

Insiders Place Their Bets

In other Solaris Energy Infrastructure news, CEO William A. Zartler purchased 10,000 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was purchased at an average price of $21.78 per share, for a total transaction of $217,800.00. Following the completion of the purchase, the chief executive officer now directly owns 1,039,227 shares in the company, valued at approximately $22,634,364.06. This trade represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aj Teague acquired 1,000 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $26.77 per share, for a total transaction of $26,770.00. Following the completion of the acquisition, the director now directly owns 98,459 shares of the company's stock, valued at approximately $2,635,747.43. This represents a 1.03% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 16,000 shares of company stock worth $356,870. 21.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SEI. Stifel Nicolaus boosted their target price on Solaris Energy Infrastructure from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Northland Capmk raised shares of Solaris Energy Infrastructure to a "strong-buy" rating in a report on Tuesday, April 22nd. Janney Montgomery Scott assumed coverage on shares of Solaris Energy Infrastructure in a report on Tuesday, February 25th. They issued a "buy" rating and a $57.00 target price on the stock. Citigroup assumed coverage on shares of Solaris Energy Infrastructure in a report on Thursday, May 22nd. They set a "buy" rating for the company. Finally, Barclays assumed coverage on Solaris Energy Infrastructure in a research report on Friday. They issued an "overweight" rating and a $42.00 price target on the stock. Nine equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Solaris Energy Infrastructure presently has an average rating of "Buy" and an average target price of $43.00.

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.

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