Driehaus Capital Management LLC purchased a new stake in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,025,417 shares of the company's stock, valued at approximately $44,073,000. Driehaus Capital Management LLC owned about 3.02% of Solaris Energy Infrastructure as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in SEI. California State Teachers Retirement System bought a new stake in Solaris Energy Infrastructure during the fourth quarter valued at approximately $52,000. GAMMA Investing LLC bought a new stake in Solaris Energy Infrastructure during the first quarter valued at about $435,000. Rhumbline Advisers purchased a new position in shares of Solaris Energy Infrastructure in the first quarter valued at about $962,000. Retirement Planning Group LLC bought a new position in shares of Solaris Energy Infrastructure in the first quarter worth about $802,000. Finally, Riverview Trust Co bought a new stake in Solaris Energy Infrastructure during the 1st quarter valued at approximately $47,000. 67.44% of the stock is owned by hedge funds and other institutional investors.
Solaris Energy Infrastructure Stock Down 5.5%
NYSE SEI traded down $1.74 during trading hours on Tuesday, hitting $29.85. 1,491,416 shares of the company were exchanged, compared to its average volume of 1,527,039. 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 $30.19 and a two-hundred day moving average of $26.32. 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 $2.02 billion, a price-to-earnings ratio of 50.59 and a beta of 1.15.
Solaris Energy Infrastructure Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. Solaris Energy Infrastructure's dividend payout ratio (DPR) is presently 81.36%.
Insider Activity
In other news, insider Christopher M. Powell sold 12,750 shares of the stock in a transaction that occurred on 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 directly owned 130,615 shares of the company's stock, valued at approximately $3,918,450. This represents a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edgar R. Jr. Giesinger sold 10,000 shares of Solaris Energy Infrastructure stock in a transaction on 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 transaction, the director directly owned 90,956 shares in the company, valued at $2,624,990.16. The trade was a 9.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.20% of the company's stock.
Wall Street Analyst Weigh In
SEI has been the subject of a number of recent research reports. Northland Securities set a $50.00 price objective on shares of Solaris Energy Infrastructure in a research note on Monday, August 4th. Barclays increased their price target on shares of Solaris Energy Infrastructure from $39.00 to $44.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Raymond James Financial restated an "outperform" rating and set a $38.00 price target (down previously from $39.00) on shares of Solaris Energy Infrastructure in a research note on Wednesday, July 23rd. Piper Sandler decreased their price objective on shares of Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Vertical Research started coverage on Solaris Energy Infrastructure in a research report on Wednesday, May 14th. They issued a "buy" rating and a $36.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $43.67.
View Our Latest Analysis on Solaris Energy Infrastructure
Solaris Energy Infrastructure Company Profile
(
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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