Raymond James Financial Inc. Boosts Stock Position in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Raymond James Financial Inc. raised its position in Solaris Energy Infrastructure, Inc. by 253.6% in the 1st quarter, purchasing an additional 158,160 shares, bringing their total shares to 220,516, valued at approximately $4.8 million.
• Insider trading activity saw Christopher M. Powell and Director Edgar R. Jr. Giesinger sell shares, leading to a decrease in their ownership stakes, with Powell's sale amounting to $382,500.
• Solaris Energy Infrastructure declared a quarterly dividend of $0.12 per share, scheduled to be paid on September 26th, contributing to an annualized dividend yield of 1.8%.

Raymond James Financial Inc. raised its position in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 253.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,516 shares of the company's stock after acquiring an additional 158,160 shares during the quarter. Raymond James Financial Inc. owned approximately 0.33% of Solaris Energy Infrastructure worth $4,799,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in Solaris Energy Infrastructure during the 1st quarter worth $29,000. US Bancorp DE purchased a new position in Solaris Energy Infrastructure in the first quarter worth approximately $38,000. California State Teachers Retirement System acquired a new position in Solaris Energy Infrastructure during the 4th quarter worth approximately $52,000. Nisa Investment Advisors LLC purchased a new stake in shares of Solaris Energy Infrastructure in the 1st quarter valued at approximately $41,000. Finally, Riverview Trust Co acquired a new stake in shares of Solaris Energy Infrastructure in the 1st quarter valued at $47,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Insider Buying and Selling at Solaris Energy Infrastructure

In other news, insider Christopher M. Powell sold 12,750 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kyle S. Ramachandran purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the chief financial officer owned 370,338 shares of the company's stock, valued at approximately $9,258,450. The trade was a 0.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.20% of the company's stock.

Analysts Set New Price Targets

SEI has been the topic of several recent analyst reports. Piper Sandler dropped their target price on Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Wall Street Zen raised Solaris Energy Infrastructure from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Stifel Nicolaus reissued a "buy" rating and set a $45.00 target price (up previously from $41.00) on shares of Solaris Energy Infrastructure in a research report on Friday, July 25th. Northland Securities set a $50.00 target price on Solaris Energy Infrastructure in a research note on Monday, August 4th. Finally, Citigroup started coverage on Solaris Energy Infrastructure in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Two research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, Solaris Energy Infrastructure has an average rating of "Buy" and a consensus target price of $43.67.

Solaris Energy Infrastructure Stock Performance

NYSE SEI traded up $4.44 on Wednesday, reaching $29.36. The stock had a trading volume of 3,179,645 shares, compared to its average volume of 1,669,215. The stock has a market cap of $1.98 billion, a P/E ratio of 49.76 and a beta of 1.15. Solaris Energy Infrastructure, Inc. has a 12-month low of $10.96 and a 12-month high of $39.03. The business's 50-day moving average price is $29.94 and its 200 day moving average price is $26.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.98 and a current ratio of 3.11.

Solaris Energy Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 1.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio (DPR) is presently 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.