Solaris Energy Infrastructure, Inc. $SEI Shares Sold by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. cut its Solaris Energy Infrastructure position by 40% in the fourth quarter, selling 141,906 shares and leaving it with 213,282 shares worth about $9.8 million.
• Insider selling has been heavy, including a 56,841-share sale by Director Ray N. Walker, Jr. and a 700-share sale by CAO Christopher P. Wirtz; insiders have sold 4.1 million shares worth about $297.8 million over the last three months.
• Solaris Energy Infrastructure beat earnings expectations in its latest quarter, reporting $0.44 EPS versus the $0.26 estimate, while analysts maintain a Moderate Buy consensus with an average target price of $79.10.

Pinnacle Associates Ltd. lowered its holdings in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 213,282 shares of the company's stock after selling 141,906 shares during the period. Pinnacle Associates Ltd. owned about 0.31% of Solaris Energy Infrastructure worth $9,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Signaturefd LLC grew its position in shares of Solaris Energy Infrastructure by 344.9% during the fourth quarter. Signaturefd LLC now owns 614 shares of the company's stock worth $28,000 after acquiring an additional 476 shares during the last quarter. Strs Ohio acquired a new position in Solaris Energy Infrastructure during the 1st quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new position in Solaris Energy Infrastructure in the 3rd quarter worth about $31,000. Larson Financial Group LLC grew its position in Solaris Energy Infrastructure by 363.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,014 shares of the company's stock worth $41,000 after purchasing an additional 795 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of Solaris Energy Infrastructure by 29.1% in the third quarter. Assetmark Inc. now owns 1,130 shares of the company's stock valued at $45,000 after purchasing an additional 255 shares during the period. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Solaris Energy Infrastructure

In related news, CAO Christopher P. Wirtz sold 700 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $77.22, for a total value of $54,054.00. Following the completion of the transaction, the chief accounting officer owned 36,085 shares in the company, valued at $2,786,483.70. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ray N. Walker, Jr. sold 56,841 shares of Solaris Energy Infrastructure stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $72.11, for a total value of $4,098,804.51. Following the completion of the transaction, the director directly owned 5,760 shares in the company, valued at $415,353.60. This represents a 90.80% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,099,593 shares of company stock worth $297,782,099. 20.23% of the stock is owned by corporate insiders.

Solaris Energy Infrastructure Stock Performance

NYSE:SEI opened at $77.99 on Friday. The company has a 50-day moving average of $63.26 and a 200-day moving average of $54.90. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 87.63 and a beta of 1.25. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 1.23. Solaris Energy Infrastructure, Inc. has a twelve month low of $21.22 and a twelve month high of $81.24.

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

Analyst Upgrades and Downgrades

SEI has been the subject of several analyst reports. UBS Group set a $65.00 price objective on Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Raymond James Financial restated an "outperform" rating and issued a $82.00 target price on shares of Solaris Energy Infrastructure in a research report on Wednesday, April 29th. Stifel Nicolaus lifted their target price on Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Piper Sandler increased their price target on Solaris Energy Infrastructure from $65.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen lowered Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $79.10.

About Solaris Energy Infrastructure

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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