Russell Investments Group Ltd. Purchases New Shares in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Russell Investments Group Ltd. has acquired 77,879 shares of Solaris Energy Infrastructure, valued at approximately $1.7 million, indicating growing interest from institutional investors in the company.
• Multiple research firms have issued various price targets for Solaris Energy Infrastructure, with a consensus rating of "Buy" and a target of approximately $43.67.
• Solaris Energy Infrastructure announced a quarterly dividend of $0.12 per share, which will be paid on September 26th, reflecting a current yield of 1.6%.

Russell Investments Group Ltd. purchased a new position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,879 shares of the company's stock, valued at approximately $1,695,000. Russell Investments Group Ltd. owned 0.12% of Solaris Energy Infrastructure at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SEI. Wayfinding Financial LLC acquired a new position in Solaris Energy Infrastructure in the 1st quarter valued at about $29,000. US Bancorp DE purchased a new position in Solaris Energy Infrastructure in the 1st quarter worth approximately $38,000. Nisa Investment Advisors LLC bought a new stake in shares of Solaris Energy Infrastructure in the first quarter worth $41,000. Riverview Trust Co bought a new stake in Solaris Energy Infrastructure during the first quarter valued at $47,000. Finally, California State Teachers Retirement System bought a new stake in Solaris Energy Infrastructure in the 4th quarter valued at about $52,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Vertical Research began coverage on shares of 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. Piper Sandler cut their price objective on Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Raymond James Financial reaffirmed an "outperform" rating and issued a $38.00 target price (down previously from $39.00) on shares of Solaris Energy Infrastructure in a research note on Wednesday, July 23rd. Northland Securities set a $50.00 price objective on shares of Solaris Energy Infrastructure in a research report on Monday, August 4th. Finally, Stifel Nicolaus reissued a "buy" rating and set a $45.00 price target (up previously from $41.00) on shares of Solaris Energy Infrastructure in a research report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. Based on data from MarketBeat.com, Solaris Energy Infrastructure presently has an average rating of "Buy" and a consensus target price of $43.67.

Solaris Energy Infrastructure Stock Performance

SEI traded up $0.03 during midday trading on Monday, reaching $31.75. The company had a trading volume of 1,657,656 shares, compared to its average volume of 1,669,526. Solaris Energy Infrastructure, Inc. has a 12-month low of $10.96 and a 12-month high of $39.03. The stock has a market cap of $2.15 billion, a PE ratio of 53.81 and a beta of 1.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.98 and a current ratio of 3.11. The business has a 50-day moving average price of $30.11 and a two-hundred day moving average price of $26.29.

Solaris Energy Infrastructure Announces Dividend

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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio (DPR) is currently 81.36%.

Insider Activity at Solaris Energy Infrastructure

In related news, insider Christopher M. Powell sold 12,750 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $30.00, for a total transaction of $382,500.00. Following the completion of the transaction, the insider owned 130,615 shares of the company's stock, valued at $3,918,450. This trade represents a 8.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edgar R. Jr. Giesinger sold 10,000 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $28.86, for a total value of $288,600.00. Following the transaction, the director directly owned 90,956 shares in the company, valued at approximately $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. Insiders own 21.20% of the company's stock.

About Solaris Energy Infrastructure

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.