Solaris Energy Infrastructure, Inc. $SEI Shares Acquired by Principal Financial Group Inc.

Key Points

• Principal Financial Group boosted its Q4 stake in Solaris Energy Infrastructure by 2,120.7%, adding 1,400,311 shares to hold 1,466,343 shares (about 2.14% of the company), valued at roughly $67.4 million.
• Major insiders sold large blocks recently — Director W. Howard Keenan Jr. sold 2,000,000 shares for ~$149 million and Ktr Management sold 2,000,000 shares for ~$141.5 million — though insiders still own about 20.23% of the stock.
• SEI trades near $72.96 with a $5.0 billion market cap; analysts have become more positive (consensus "Moderate Buy," average target ~$75.18) and several firms raised price targets into the mid-$80s to low-$90s.

Principal Financial Group Inc. boosted its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 2,120.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,466,343 shares of the company's stock after purchasing an additional 1,400,311 shares during the period. Principal Financial Group Inc. owned approximately 2.14% of Solaris Energy Infrastructure worth $67,408,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CenterBook Partners LP boosted its holdings in Solaris Energy Infrastructure by 513.1% in the third quarter. CenterBook Partners LP now owns 415,453 shares of the company's stock valued at $16,606,000 after purchasing an additional 347,693 shares during the last quarter. Advent International L.P. purchased a new stake in Solaris Energy Infrastructure during the 3rd quarter worth approximately $40,246,000. Hiddenite Capital Partners LP acquired a new position in shares of Solaris Energy Infrastructure in the 3rd quarter valued at approximately $13,990,000. AGF Management Ltd. acquired a new position in shares of Solaris Energy Infrastructure in the 3rd quarter valued at approximately $6,613,000. Finally, Ranger Investment Management L.P. purchased a new position in shares of Solaris Energy Infrastructure during the 3rd quarter valued at approximately $17,033,000. Hedge funds and other institutional investors own 67.44% of the company's stock.

Solaris Energy Infrastructure Stock Performance

SEI stock opened at $72.96 on Friday. The stock's 50 day simple moving average is $60.72 and its 200 day simple moving average is $53.96. Solaris Energy Infrastructure, Inc. has a 12-month low of $21.22 and a 12-month high of $81.24. The firm has a market cap of $5.00 billion, a P/E ratio of 81.98 and a beta of 1.25. The company has a current ratio of 1.11, a quick ratio of 2.87 and a debt-to-equity ratio of 1.23.

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 for the quarter, topping 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 company had revenue of $196.24 million for the quarter. As a group, equities research analysts predict that Solaris Energy Infrastructure, Inc. will post 1.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SEI. Wells Fargo & Company lifted their price target on shares of Solaris Energy Infrastructure from $71.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 29th. Stifel Nicolaus increased their price objective on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Solaris Energy Infrastructure from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Zacks Research upgraded shares of Solaris Energy Infrastructure from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 12th. Finally, Barclays increased their price target on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $75.18.

Insider Activity

In other Solaris Energy Infrastructure news, Director W Howard Keenan, Jr. sold 2,000,000 shares of the firm's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $74.50, for a total value of $149,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ktr Management Company, Llc sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $70.75, for a total value of $141,500,000.00. The disclosure for this sale is available in the SEC filing. 20.23% of the stock is owned by corporate insiders.

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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