Corebridge Financial Inc. acquired a new stake in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,018 shares of the company's stock, valued at approximately $327,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC bought a new position in shares of Solaris Energy Infrastructure during the first quarter valued at $264,000. GW&K Investment Management LLC bought a new position in shares of Solaris Energy Infrastructure during the first quarter valued at $9,437,000. Informed Momentum Co LLC bought a new position in shares of Solaris Energy Infrastructure during the first quarter valued at $2,458,000. Acuitas Investments LLC bought a new position in shares of Solaris Energy Infrastructure during the first quarter valued at $3,728,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Solaris Energy Infrastructure during the first quarter valued at $1,695,000. 67.44% of the stock is owned by institutional investors.
Solaris Energy Infrastructure Trading Up 2.6%
SEI stock traded up $0.79 during midday trading on Friday, reaching $31.09. The stock had a trading volume of 2,259,983 shares, compared to its average volume of 1,750,440. The business has a fifty day simple moving average of $29.87 and a two-hundred day simple moving average of $26.18. 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 firm has a market cap of $2.10 billion, a price-to-earnings ratio of 52.70 and a beta of 1.15. Solaris Energy Infrastructure, Inc. has a twelve month low of $11.42 and a twelve month high of $39.03.
Solaris Energy Infrastructure Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio (DPR) is presently 81.36%.
Analyst Ratings Changes
A number of brokerages have issued reports on SEI. Stifel Nicolaus reissued a "buy" rating and set a $45.00 price objective (up from $41.00) on shares of Solaris Energy Infrastructure in a report on Friday, July 25th. Piper Sandler cut their price target on Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Raymond James Financial reaffirmed an "outperform" rating and issued a $38.00 price target (down from $39.00) on shares of Solaris Energy Infrastructure in a report on Wednesday, July 23rd. Wall Street Zen raised Solaris Energy Infrastructure from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Citigroup initiated coverage on Solaris Energy Infrastructure in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $43.67.
Read Our Latest Research Report on Solaris Energy Infrastructure
Insider Transactions at Solaris Energy Infrastructure
In other news, CEO William A. Zartler acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was purchased at an average cost of $24.83 per share, for a total transaction of $248,300.00. Following the completion of the transaction, the chief executive officer directly owned 1,049,227 shares in the company, valued at $26,052,306.41. This trade represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher M. Powell sold 12,750 shares of Solaris Energy Infrastructure stock in a transaction dated Tuesday, August 26th. The stock was 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 approximately $3,918,450. The trade was 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 company insiders.
About Solaris Energy Infrastructure
(
Free Report)
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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