New York State Common Retirement Fund Buys Shares of 9,617 Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)

Key Points

• The New York State Common Retirement Fund acquired a new stake in Solaris Energy Infrastructure, purchasing 9,617 shares valued at approximately $209,000 during the 1st quarter.
• The firm declared a quarterly dividend of $0.12 per share, with a payout ratio of 81.36% and a dividend yield of 1.48%.
• The stock has a consensus rating of "Buy" from analysts, with a price target averaging $41.78.

New York State Common Retirement Fund purchased a new stake in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,617 shares of the company's stock, valued at approximately $209,000.

A number of other institutional investors also recently modified their holdings of the business. Acuitas Investments LLC acquired a new position in Solaris Energy Infrastructure during the 1st quarter worth approximately $3,728,000. U.S. Capital Wealth Advisors LLC acquired a new stake in Solaris Energy Infrastructure in the first quarter valued at approximately $267,000. Arizona State Retirement System bought a new stake in shares of Solaris Energy Infrastructure during the first quarter worth $213,000. GAMMA Investing LLC acquired a new position in shares of Solaris Energy Infrastructure during the first quarter worth $435,000. Finally, Congress Asset Management Co. acquired a new position in shares of Solaris Energy Infrastructure during the first quarter worth $4,379,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Solaris Energy Infrastructure Price Performance

Shares of NASDAQ:SEI opened at $32.54 on Friday. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2.20 billion, a PE ratio of 73.94 and a beta of 1.09. The stock's fifty day simple moving average is $28.68 and its two-hundred day simple moving average is $26.12. Solaris Energy Infrastructure, Inc. has a 1-year low of $10.96 and a 1-year high of $39.03.

Solaris Energy Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's payout ratio is 81.36%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SEI. Citigroup assumed coverage on shares of Solaris Energy Infrastructure in a report on Thursday, May 22nd. They set a "buy" rating on the stock. Northland Capmk raised shares of Solaris Energy Infrastructure to a "strong-buy" rating in a research note on Tuesday, April 22nd. Raymond James Financial restated an "outperform" rating and issued a $38.00 price objective (down from $39.00) on shares of Solaris Energy Infrastructure in a report on Wednesday. Wall Street Zen lowered Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a research report on Wednesday, June 25th. Finally, Vertical Research assumed coverage on Solaris Energy Infrastructure in a research report on Wednesday, May 14th. They issued a "buy" rating and a $36.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Solaris Energy Infrastructure has a consensus rating of "Buy" and a consensus price target of $41.78.

Insider Buying and Selling

In other Solaris Energy Infrastructure news, CEO William A. Zartler bought 10,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were bought at an average cost of $21.78 per share, for a total transaction of $217,800.00. Following the purchase, the chief executive officer directly owned 1,039,227 shares of the company's stock, valued at approximately $22,634,364.06. This trade represents a 0.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aj Teague acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average price of $26.77 per share, with a total value of $26,770.00. Following the acquisition, the director directly owned 98,459 shares of the company's stock, valued at $2,635,747.43. The trade was a 1.03% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 12,000 shares of company stock valued at $267,150 over the last ninety days. 21.20% of the stock is currently owned by company insiders.

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.

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