Victory Capital Management Inc. Takes Position in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)

Key Points

• Victory Capital Management Inc. acquired a new stake in Solaris Energy Infrastructure, purchasing 8,953 shares valued at approximately $195,000 in the first quarter of the year.
• Solaris Energy Infrastructure's stock has experienced a decline of 7.7%, and the company's recent quarterly dividend announcement reflects an annualized yield of 1.6%.
• Analysts maintain a generally positive outlook with an average rating of "Buy" and a price target of $42.33, despite one firm recently downgrading its rating from "hold" to "sell."

Victory Capital Management Inc. acquired a new stake in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,953 shares of the company's stock, valued at approximately $195,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wayfinding Financial LLC bought a new position in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $29,000. California State Teachers Retirement System bought a new position in shares of Solaris Energy Infrastructure in the fourth quarter valued at approximately $52,000. Nisa Investment Advisors LLC bought a new position in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $41,000. Riverview Trust Co bought a new position in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $47,000. Finally, New York State Common Retirement Fund bought a new position in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $209,000. 67.44% of the stock is currently owned by institutional investors.

Insider Activity at Solaris Energy Infrastructure

In other news, Director Aj Teague purchased 1,000 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $26.77 per share, for a total transaction of $26,770.00. Following the transaction, the director owned 98,459 shares in the company, valued at $2,635,747.43. The trade was a 1.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William A. Zartler bought 10,000 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was bought at an average price of $21.78 per share, with a total value of $217,800.00. Following the transaction, the chief executive officer owned 1,039,227 shares in the company, valued at approximately $22,634,364.06. This represents a 0.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.20% of the stock is currently owned by corporate insiders.

Solaris Energy Infrastructure Stock Down 7.7%

Shares of NASDAQ:SEI opened at $30.16 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.40 and a current ratio of 3.61. The company has a market cap of $2.04 billion, a PE ratio of 68.54 and a beta of 1.09. 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 $29.56 and a 200 day simple moving average of $26.18.

Solaris Energy Infrastructure Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio is 81.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SEI. Wall Street Zen cut shares of Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a report on Wednesday, June 25th. Stifel Nicolaus restated a "buy" rating and set a $45.00 target price (up from $41.00) on shares of Solaris Energy Infrastructure in a report on Friday, July 25th. Barclays raised their target price 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. Citigroup assumed coverage on shares of Solaris Energy Infrastructure in a report on Thursday, May 22nd. They set a "buy" rating for the company. Finally, Piper Sandler raised their target price on shares of Solaris Energy Infrastructure from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Solaris Energy Infrastructure has an average rating of "Buy" and an average price target of $42.33.

Solaris Energy Infrastructure Company Profile

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.

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