Cubist Systematic Strategies LLC Purchases Shares of 98,592 Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Cubist Systematic Strategies LLC invested approximately $2.15 million in Solaris Energy Infrastructure, acquiring over 98,000 shares, which constitutes about 0.15% ownership in the company.
• Several institutional investors increased their positions in Solaris Energy Infrastructure during the first quarter, with hedge funds collectively owning 67.44% of the company's stock.
• The company announced a quarterly dividend of $0.12 per share, reflecting an annualized dividend of $0.48 and a yield of 1.8%.

Cubist Systematic Strategies LLC acquired a new position in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 98,592 shares of the company's stock, valued at approximately $2,145,000. Cubist Systematic Strategies LLC owned 0.15% of Solaris Energy Infrastructure at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new stake in Solaris Energy Infrastructure in the 1st quarter worth approximately $477,000. Clough Capital Partners L P purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at $1,312,000. Driehaus Capital Management LLC purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at $44,073,000. Keeley Teton Advisors LLC purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at $1,398,000. Finally, Corebridge Financial Inc. purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at $327,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William A. Zartler bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was acquired at an average price of $24.83 per share, for a total transaction of $248,300.00. Following the transaction, the chief executive officer directly owned 1,049,227 shares of the company's stock, valued at $26,052,306.41. This trade represents a 0.96% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edgar R. Jr. Giesinger sold 10,000 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $28.86, for a total transaction of $288,600.00. Following the completion of the sale, the director owned 90,956 shares of the company's stock, valued at $2,624,990.16. The trade was a 9.91% decrease in their position. The disclosure for this sale can be found here. 21.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SEI. Wall Street Zen upgraded shares of Solaris Energy Infrastructure from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Northland Securities set a $50.00 target price on shares of Solaris Energy Infrastructure in a research note on Monday, August 4th. Piper Sandler dropped their price objective on shares of Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Vertical Research began coverage on shares of Solaris Energy Infrastructure in a research note on Wednesday, May 14th. They set a "buy" rating and a $36.00 price objective on the stock. Finally, Raymond James Financial restated an "outperform" rating and issued a $38.00 target price (down from $39.00) on shares of Solaris Energy Infrastructure in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat.com, Solaris Energy Infrastructure has an average rating of "Buy" and a consensus price target of $43.67.

Solaris Energy Infrastructure Stock Performance

Solaris Energy Infrastructure stock traded up $1.89 during mid-day trading on Thursday, reaching $31.26. The company had a trading volume of 1,867,225 shares, compared to its average volume of 1,556,458. The company has a quick ratio of 2.98, a current ratio of 3.11 and a debt-to-equity ratio of 0.76. Solaris Energy Infrastructure, Inc. has a 52 week low of $10.96 and a 52 week high of $39.03. The company has a 50 day moving average of $29.94 and a 200-day moving average of $26.21. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 52.98 and a beta of 1.15.

Solaris Energy Infrastructure Announces Dividend

The firm 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. The ex-dividend date is Tuesday, September 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. Solaris Energy Infrastructure's dividend payout ratio is currently 81.36%.

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.