Van ECK Associates Corp Raises Stock Holdings in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• VanECK Associates Corp increased its stake in Solaris Energy Infrastructure by 623.5% in Q3 to 1,295,898 shares, representing about a 1.92% ownership and valued at roughly $51.8 million.
• Analysts are largely bullish—MarketBeat shows an average rating of "Moderate Buy" with an average price target of $57.10, while firms like Barclays, Raymond James and GLJ issued positive notes and Weiss cut its rating to Hold.
• Insider activity included CEO Amanda Brock buying 3,669 shares at $40.89 and a director selling 2,300 shares at $44.25; SEI recently beat quarterly EPS ($0.35 vs. $0.24) and trades near $54 with a 12‑month high of $61.36 and a P/E around 76.

Van ECK Associates Corp grew its position in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 623.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,295,898 shares of the company's stock after acquiring an additional 1,116,794 shares during the quarter. Van ECK Associates Corp owned about 1.92% of Solaris Energy Infrastructure worth $51,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SEI. Royal Bank of Canada purchased a new position in shares of Solaris Energy Infrastructure during the first quarter worth approximately $477,000. AQR Capital Management LLC purchased a new position in Solaris Energy Infrastructure during the 1st quarter worth $2,475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Solaris Energy Infrastructure during the 1st quarter worth $396,000. Goldman Sachs Group Inc. acquired a new position in Solaris Energy Infrastructure in the first quarter valued at $13,714,000. Finally, Strs Ohio purchased a new position in shares of Solaris Energy Infrastructure during the first quarter worth about $28,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SEI. Barclays increased their price objective on Solaris Energy Infrastructure from $61.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Raymond James Financial reaffirmed an "outperform" rating on shares of Solaris Energy Infrastructure in a report on Tuesday, January 27th. Glj Research started coverage on shares of Solaris Energy Infrastructure in a report on Thursday, March 5th. They set a "buy" rating and a $60.00 price target for the company. Citigroup lowered their price objective on Solaris Energy Infrastructure from $62.00 to $61.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Weiss Ratings cut Solaris Energy Infrastructure from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.10.

Insider Buying and Selling at Solaris Energy Infrastructure

In related news, CEO Amanda M. Brock bought 3,669 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Wednesday, December 17th. The shares were purchased at an average price of $40.89 per share, with a total value of $150,025.41. Following the purchase, the chief executive officer owned 141,080 shares in the company, valued at $5,768,761.20. This represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Laurie H. Argo sold 2,300 shares of the business's stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $44.25, for a total value of $101,775.00. Following the completion of the transaction, the director directly owned 50,039 shares of the company's stock, valued at approximately $2,214,225.75. This trade represents a 4.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 21.20% of the stock is owned by corporate insiders.

Solaris Energy Infrastructure Price Performance

SEI stock opened at $54.07 on Wednesday. The firm has a 50 day moving average of $52.35 and a 200-day moving average of $46.78. Solaris Energy Infrastructure, Inc. has a 12-month low of $14.27 and a 12-month high of $61.36. The company has a current ratio of 2.96, a quick ratio of 2.87 and a debt-to-equity ratio of 1.37. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 76.15 and a beta of 1.13.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The firm had revenue of $179.70 million during the quarter. Solaris Energy Infrastructure had a return on equity of 11.83% and a net margin of 4.81%. As a group, equities analysts expect that Solaris Energy Infrastructure, Inc. will post 0.36 EPS for the current fiscal year.

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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