Ritholtz Wealth Management Reduces Holdings in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Ritholtz Wealth Management cut its stake in Solaris Energy Infrastructure by 14.9% in the first quarter, selling 15,282 shares and leaving it with 87,369 shares valued at about $4.94 million.
• Wall Street sentiment remains positive, with eight analysts rating SEI a Buy and two a Hold; the average price target is $81.80, while some firms have recently raised targets as high as $104.
• Solaris Energy Infrastructure beat earnings expectations last quarter, reporting EPS of $0.44 versus the $0.26 consensus, while shares recently traded around $79.15 near their 52-week high of $86.19.

Ritholtz Wealth Management reduced its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 14.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,369 shares of the company's stock after selling 15,282 shares during the period. Ritholtz Wealth Management owned about 0.13% of Solaris Energy Infrastructure worth $4,937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Solaris Energy Infrastructure by 2,120.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company's stock valued at $67,408,000 after purchasing an additional 1,400,311 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Solaris Energy Infrastructure by 623.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company's stock worth $51,797,000 after buying an additional 1,116,794 shares in the last quarter. Advent International L.P. purchased a new position in Solaris Energy Infrastructure in the 3rd quarter valued at about $40,246,000. Value Aligned Research Advisors LLC purchased a new position in Solaris Energy Infrastructure in the 4th quarter valued at about $44,864,000. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Solaris Energy Infrastructure during the third quarter valued at about $35,050,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SEI. Citigroup lifted their target price on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Zacks Research raised Solaris Energy Infrastructure from a "strong sell" rating to a "hold" rating in a report on Thursday, March 12th. Morgan Stanley raised their price objective on Solaris Energy Infrastructure from $81.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Glj Research started coverage on Solaris Energy Infrastructure in a report on Thursday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Northland Securities set a $104.00 target price on Solaris Energy Infrastructure in a research report on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $81.80.

Solaris Energy Infrastructure Price Performance

Shares of SEI stock opened at $79.15 on Friday. The firm has a fifty day moving average of $73.36 and a two-hundred day moving average of $60.25. The firm has a market cap of $5.82 billion, a P/E ratio of 88.93 and a beta of 1.19. Solaris Energy Infrastructure, Inc. has a 1-year low of $24.57 and a 1-year high of $86.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.11 and a quick ratio of 1.07.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last issued its earnings results on Monday, April 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.18. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The business had revenue of $196.24 million for the quarter. As a group, research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Transactions at Solaris Energy Infrastructure

In related news, Director Laurie H. Argo sold 5,200 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $72.88, for a total value of $378,976.00. Following the completion of the sale, the director directly owned 44,839 shares of the company's stock, valued at $3,267,866.32. The trade was a 10.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Aj Teague bought 2,750 shares of Solaris Energy Infrastructure stock in a transaction on Friday, May 8th. The shares were purchased at an average cost of $72.98 per share, for a total transaction of $200,695.00. Following the acquisition, the director owned 11,060 shares in the company, valued at $807,158.80. The trade was a 33.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 4,099,593 shares of company stock valued at $297,782,099 over the last 90 days. Corporate insiders own 20.23% of the company's stock.

Solaris Energy Infrastructure Profile

Solaris Energy Infrastructure Fund Inc NYSE: SEI is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues its objective by investing primarily in equity securities of energy infrastructure companies, including master limited partnerships (MLPs) and other midstream entities. SEI is externally managed by Solaris Asset Management LP, a firm specializing in energy infrastructure investments.

The fund’s portfolio targets businesses involved in the gathering, processing, transportation, storage and terminalling of oil, natural gas and refined products.

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