357,665 Shares in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI) Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. purchased a new position in shares of Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 357,665 shares of the company's stock, valued at approximately $7,783,000. Pinnacle Associates Ltd. owned 0.53% of Solaris Energy Infrastructure as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Emerald Advisers LLC bought a new stake in shares of Solaris Energy Infrastructure during the 1st quarter valued at approximately $15,188,000. GW&K Investment Management LLC acquired a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at $9,437,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at $7,439,000. Stephens Investment Management Group LLC acquired a new position in Solaris Energy Infrastructure during the first quarter worth $5,782,000. Finally, Bank of New York Mellon Corp purchased a new stake in Solaris Energy Infrastructure in the 1st quarter valued at $5,137,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Solaris Energy Infrastructure Stock Down 3.9%

SEI traded down $1.31 during midday trading on Friday, reaching $32.54. The company's stock had a trading volume of 2,065,900 shares, compared to its average volume of 1,481,160. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 73.94 and a beta of 1.09. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77. Solaris Energy Infrastructure, Inc. has a 1 year low of $10.96 and a 1 year high of $39.03. The stock's 50-day moving average is $28.68 and its 200-day moving average is $26.14.

Solaris Energy Infrastructure Dividend Announcement

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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.48%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio (DPR) is 97.96%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a report on Wednesday, June 25th. Northland Capmk upgraded shares of Solaris Energy Infrastructure to a "strong-buy" rating in a research report on Tuesday, April 22nd. Citigroup assumed coverage on shares of Solaris Energy Infrastructure in a research report on Thursday, May 22nd. They issued a "buy" rating for the company. Vertical Research initiated coverage on Solaris Energy Infrastructure in a report on Wednesday, May 14th. They set a "buy" rating and a $36.00 price objective for the company. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $45.00 target price (up from $41.00) on shares of Solaris Energy Infrastructure in a research report on Friday. One equities 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $41.78.

Insider Activity

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