Solaris Energy Infrastructure, Inc. $SEI Shares Sold by Ballast Asset Management LP

Key Points

• Ballast Asset Management cut its Solaris Energy Infrastructure stake by 37.8% in the fourth quarter, though the fund still held 113,026 shares valued at about $5.2 million.
• Several other institutional investors added to SEI positions, while hedge funds and institutions still own a substantial 67.44% of the company’s shares.
• Solaris Energy Infrastructure beat earnings expectations with Q1 EPS of $0.44 versus $0.26 expected, and analysts remain broadly positive with a Moderate Buy rating and an average price target of $79.10.

Ballast Asset Management LP lessened its holdings in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 37.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,026 shares of the company's stock after selling 68,748 shares during the quarter. Solaris Energy Infrastructure accounts for about 2.5% of Ballast Asset Management LP's holdings, making the stock its 14th biggest position. Ballast Asset Management LP owned approximately 0.17% of Solaris Energy Infrastructure worth $5,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Solaris Energy Infrastructure by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 2,913,632 shares of the company's stock worth $133,940,000 after acquiring an additional 248,762 shares during the period. Principal Financial Group Inc. lifted its holdings in Solaris Energy Infrastructure by 2,120.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company's stock valued at $67,408,000 after acquiring an additional 1,400,311 shares during the period. Van ECK Associates Corp lifted its holdings in Solaris Energy Infrastructure by 623.5% in the third quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company's stock valued at $51,797,000 after acquiring an additional 1,116,794 shares during the period. GW&K Investment Management LLC boosted its position in shares of Solaris Energy Infrastructure by 12.5% during the 3rd quarter. GW&K Investment Management LLC now owns 1,177,830 shares of the company's stock worth $47,078,000 after purchasing an additional 130,975 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Solaris Energy Infrastructure by 88.9% during the 3rd quarter. Two Sigma Investments LP now owns 1,007,320 shares of the company's stock worth $40,263,000 after purchasing an additional 474,087 shares in the last quarter. Institutional investors and hedge funds own 67.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SEI. Northland Securities set a $86.00 price target on shares of Solaris Energy Infrastructure in a report on Thursday, April 30th. Citigroup boosted their price objective on shares of Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Barclays upped their target price 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. UBS Group set a $65.00 target price on shares of Solaris Energy Infrastructure in a report on Tuesday, January 27th. Finally, Stifel Nicolaus lifted their price target on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.10.

Solaris Energy Infrastructure Trading Up 0.2%

Shares of SEI opened at $74.41 on Tuesday. The stock has a fifty day moving average of $66.35 and a two-hundred day moving average of $55.96. Solaris Energy Infrastructure, Inc. has a fifty-two week low of $24.50 and a fifty-two week high of $81.24. The company has a market capitalization of $5.09 billion, a PE ratio of 83.61 and a beta of 1.25. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.07 and a current ratio of 1.11.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.18. The firm had revenue of $196.24 million for the quarter. Solaris Energy Infrastructure had a return on equity of 13.33% and a net margin of 6.69%. As a group, analysts forecast that Solaris Energy Infrastructure, Inc. will post 1.3 EPS for the current year.

Insider Activity

In other Solaris Energy Infrastructure news, Director W Howard Keenan, Jr. sold 2,000,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $74.50, for a total transaction of $149,000,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Laurie H. Argo sold 5,200 shares of the stock in a transaction on 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 transaction, the director directly owned 44,839 shares in the company, valued at $3,267,866.32. This trade represents a 10.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,099,593 shares of company stock valued at $297,782,099 in the last ninety days. 20.23% of the stock is owned by company insiders.

Solaris Energy Infrastructure Company 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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