Victory Capital Management Inc. Acquires New Shares 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 position in shares of Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 8,953 shares of the company's stock, valued at approximately $195,000.

A number of other hedge funds have also made changes to their positions in SEI. Wayfinding Financial LLC acquired a new position in shares of Solaris Energy Infrastructure during the first quarter worth about $29,000. Nisa Investment Advisors LLC purchased a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth approximately $41,000. Riverview Trust Co purchased a new position in shares of Solaris Energy Infrastructure in the 1st quarter valued at $47,000. California State Teachers Retirement System purchased a new stake in Solaris Energy Infrastructure in the fourth quarter valued at $52,000. Finally, New York State Common Retirement Fund purchased a new stake in Solaris Energy Infrastructure in the first quarter valued at approximately $209,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Insider Transactions at Solaris Energy Infrastructure

In other news, CEO William A. Zartler purchased 10,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average cost of $21.78 per share, with a total value of $217,800.00. Following the acquisition, the chief executive officer directly owned 1,039,227 shares of the company's stock, valued at $22,634,364.06. This represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aj Teague purchased 1,000 shares of the business's stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $26.77 per share, with a total value of $26,770.00. Following the purchase, the director directly owned 98,459 shares in the company, valued at $2,635,747.43. This represents a 1.03% increase in their position. The disclosure for this purchase can be found here. Insiders own 21.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wall Street Zen downgraded Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a research report on Wednesday, June 25th. Stifel Nicolaus reiterated 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. Piper Sandler increased their price target on Solaris Energy Infrastructure from $50.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Northland Securities set a $50.00 price objective on Solaris Energy Infrastructure in a report on Monday. Finally, Barclays increased their target price on Solaris Energy Infrastructure from $39.00 to $44.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. One analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $43.78.

Solaris Energy Infrastructure Stock Performance

Solaris Energy Infrastructure stock traded down $0.72 during trading on Friday, hitting $29.90. The stock had a trading volume of 1,360,553 shares, compared to its average volume of 1,516,164. Solaris Energy Infrastructure, Inc. has a 1 year low of $10.96 and a 1 year high of $39.03. The stock's 50 day moving average is $29.81 and its two-hundred day moving average is $26.24. The company has a quick ratio of 3.40, a current ratio of 3.61 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 67.98 and a beta of 1.14.

Solaris Energy Infrastructure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. Solaris Energy Infrastructure's payout ratio is presently 81.36%.

Solaris Energy Infrastructure 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.