Vanguard Group Inc. Invests $35.06 Million in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Vanguard Group Inc. acquired over 1.6 million shares of Solaris Energy Infrastructure, Inc. valued at approximately $35 million, representing 2.4% ownership as of the latest reporting period.
• Solaris Energy Infrastructure announced a quarterly dividend of $0.12, with a yield of 1.6%, set to be paid on September 26th to stockholders of record.
• Wall Street analysts have given an overall "Buy" rating to the company, with a consensus target price of around $43.67, amidst revised price targets from firms like Barclays and Piper Sandler.

Vanguard Group Inc. purchased a new position in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,611,230 shares of the company's stock, valued at approximately $35,060,000. Vanguard Group Inc. owned about 2.40% of Solaris Energy Infrastructure as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Westwood Holdings Group Inc. bought a new stake in Solaris Energy Infrastructure in the first quarter worth $29,298,000. Emerald Advisers LLC bought a new stake in Solaris Energy Infrastructure in the 1st quarter worth $15,188,000. Royce & Associates LP bought a new stake in Solaris Energy Infrastructure in the 1st quarter worth $11,190,000. GW&K Investment Management LLC bought a new stake in Solaris Energy Infrastructure in the 1st quarter worth $9,437,000. Finally, Pinnacle Associates Ltd. bought a new stake in Solaris Energy Infrastructure in the 1st quarter worth $7,783,000. 67.44% of the stock is owned by institutional investors.

Insider Transactions at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, insider Christopher M. Powell sold 12,750 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $30.00, for a total transaction of $382,500.00. Following the completion of the sale, the insider directly owned 130,615 shares in the company, valued at approximately $3,918,450. This trade represents a 8.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edgar R. Jr. Giesinger sold 10,000 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $28.86, for a total transaction of $288,600.00. Following the sale, the director owned 90,956 shares of the company's stock, valued at approximately $2,624,990.16. This represents a 9.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SEI shares. Citigroup started coverage on shares of Solaris Energy Infrastructure in a report on Thursday, May 22nd. They issued a "buy" rating on the stock. Piper Sandler cut their price target on shares of Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Raymond James Financial reissued an "outperform" rating and issued a $38.00 price target (down previously from $39.00) on shares of Solaris Energy Infrastructure in a report on Wednesday, July 23rd. Vertical Research started coverage on shares of Solaris Energy Infrastructure in a report on Wednesday, May 14th. They issued a "buy" rating and a $36.00 price target on the stock. Finally, Barclays raised their price target on shares of Solaris Energy Infrastructure from $39.00 to $44.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $43.67.

Solaris Energy Infrastructure Stock Up 0.1%

NYSE SEI traded up $0.03 during trading hours on Friday, reaching $31.75. 1,657,656 shares of the company's stock traded hands, compared to its average volume of 1,720,443. The firm has a market cap of $2.15 billion, a PE ratio of 53.81 and a beta of 1.14. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.11 and a quick ratio of 2.98. Solaris Energy Infrastructure, Inc. has a 52-week low of $10.96 and a 52-week high of $39.03. The firm has a 50-day simple moving average of $30.11 and a 200 day simple moving average of $26.30.

Solaris Energy Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio (DPR) is currently 81.36%.

About Solaris Energy Infrastructure

Solaris Energy Infrastructure, Inc is a holding company, which engages in the manufacture of patented mobile proppant management systems that unload, store, and deliver proppant to oil and natural gas well sites. Its products include Mobile Proppant and Mobile Chemical Management Systems, and Inventory Management Software.