Solaris Energy Infrastructure, Inc. $SEI Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc. cut its stake in Solaris Energy Infrastructure by 79.8% in the fourth quarter, selling 26,100 shares and leaving it with 6,600 shares valued at about $303,000.
• Institutional ownership remains high, with hedge funds and other investors controlling 67.44% of the stock. Several large holders, including Vanguard and Principal Financial Group, increased their positions significantly.
• The company posted stronger-than-expected results, reporting quarterly EPS of $0.44 versus analyst estimates of $0.26, while analysts maintain a Moderate Buy consensus with an average price target of $80.00.

Vestcor Inc decreased its holdings in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 79.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,600 shares of the company's stock after selling 26,100 shares during the quarter. Vestcor Inc's holdings in Solaris Energy Infrastructure were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Solaris Energy Infrastructure by 9.3% during the 4th quarter. Vanguard Group Inc. now owns 2,913,632 shares of the company's stock worth $133,940,000 after buying an additional 248,762 shares during the period. Situational Awareness LP increased its stake in Solaris Energy Infrastructure by 62.3% during the 4th quarter. Situational Awareness LP now owns 1,866,500 shares of the company's stock worth $85,803,000 after buying an additional 716,200 shares during the period. Principal Financial Group Inc. increased its stake 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 worth $67,408,000 after buying an additional 1,400,311 shares during the period. Van ECK Associates Corp increased its stake in Solaris Energy Infrastructure by 623.5% during 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 during the period. Finally, GW&K Investment Management LLC increased its stake in 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 buying an additional 130,975 shares during the period. Institutional investors and hedge funds own 67.44% of the company's stock.

Solaris Energy Infrastructure Price Performance

Shares of NYSE:SEI opened at $68.70 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 1.23. Solaris Energy Infrastructure, Inc. has a fifty-two week low of $24.57 and a fifty-two week high of $81.24. The firm has a 50-day simple moving average of $68.63 and a 200 day simple moving average of $57.76. The company has a market cap of $5.05 billion, a PE ratio of 77.19 and a beta of 1.19.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The company reported $0.44 earnings per share 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 during the quarter. On average, sell-side analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.26 EPS for the current year.

Insider Buying and Selling 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 shares were sold at an average price of $72.88, for a total transaction of $378,976.00. Following the completion of the sale, the director owned 44,839 shares of the company's stock, valued at $3,267,866.32. This represents a 10.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aj Teague acquired 2,750 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average cost of $72.98 per share, with a total value of $200,695.00. Following the transaction, the director owned 11,060 shares in the company, valued at approximately $807,158.80. The trade was a 33.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 4,099,593 shares of company stock worth $297,782,099. 20.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SEI shares. Morgan Stanley lifted their price target on shares of Solaris Energy Infrastructure from $81.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Glj Research began coverage on shares of Solaris Energy Infrastructure in a research report on Thursday, March 5th. They issued a "buy" rating and a $60.00 target price for the company. Piper Sandler boosted their target price on shares of Solaris Energy Infrastructure from $65.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Weiss Ratings raised shares of Solaris Energy Infrastructure from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Finally, Wells Fargo & Company boosted their target price on shares of Solaris Energy Infrastructure from $71.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Solaris Energy Infrastructure currently has a consensus rating of "Moderate Buy" and an average target price of $80.00.

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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