Corebridge Financial Inc. Acquires New Stake in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Corebridge Financial Inc. has acquired a new stake of 15,018 shares in Solaris Energy Infrastructure, valued at approximately $327,000 during the first quarter.
• Insider selling reports reveal that key executives, Christopher M. Powell and Edgar R. Jr. Giesinger, sold significant portions of their shares, indicating a decrease in their ownership positions.
• Solaris Energy Infrastructure announced a quarterly dividend of $0.12 per share, with the ex-dividend date set for September 16th, reflecting a 1.8% dividend yield.

Corebridge Financial Inc. purchased a new position in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,018 shares of the company's stock, valued at approximately $327,000.

Other large investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in Solaris Energy Infrastructure in the 1st quarter worth approximately $29,000. US Bancorp DE bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at approximately $38,000. Nisa Investment Advisors LLC bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at approximately $41,000. Riverview Trust Co bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at approximately $47,000. Finally, California State Teachers Retirement System bought a new position in shares of Solaris Energy Infrastructure during the 4th quarter valued at approximately $52,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Solaris Energy Infrastructure

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

Wall Street Analyst Weigh In

Several equities analysts have commented on SEI shares. Barclays upped their price objective on Solaris Energy Infrastructure from $39.00 to $44.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Northland Securities set a $50.00 price objective on Solaris Energy Infrastructure in a research report on Monday, August 4th. Stifel Nicolaus reissued a "buy" rating and set a $45.00 price target (up previously from $41.00) on shares of Solaris Energy Infrastructure in a research report on Friday, July 25th. Raymond James Financial reissued an "outperform" rating and set a $38.00 price target (down previously from $39.00) on shares of Solaris Energy Infrastructure in a research report on Wednesday, July 23rd. Finally, Piper Sandler dropped their price target on Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $43.67.

Solaris Energy Infrastructure Stock Performance

Shares of NYSE:SEI traded up $2.04 during trading on Thursday, hitting $31.41. The stock had a trading volume of 1,749,145 shares, compared to its average volume of 1,556,192. Solaris Energy Infrastructure, Inc. has a 12-month low of $10.96 and a 12-month high of $39.03. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 53.24 and a beta of 1.15. The company has a quick ratio of 2.98, a current ratio of 3.11 and a debt-to-equity ratio of 0.76. The stock has a 50-day simple moving average of $29.94 and a two-hundred day simple moving average of $26.21.

Solaris Energy Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio (DPR) is presently 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.