Westwood Holdings Group Inc. Acquires New Position in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)

Key Points

• Westwood Holdings Group Inc. has acquired a new position in Solaris Energy Infrastructure, purchasing 1,346,400 shares valued at approximately $29.30 million, resulting in ownership of 2.01% of the company.
• Solaris Energy Infrastructure plans to pay a quarterly dividend of $0.12 on September 26th, representing an annualized dividend yield of 1.6%.
• A recent analysis showed multiple institutional investors increasing their stakes in Solaris Energy Infrastructure, with 67.44% of the stock currently owned by institutional investors.

Westwood Holdings Group Inc. purchased a new stake in shares of Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,346,400 shares of the company's stock, valued at approximately $29,298,000. Westwood Holdings Group Inc. owned about 2.01% of Solaris Energy Infrastructure as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in Solaris Energy Infrastructure in the 4th quarter worth approximately $52,000. GAMMA Investing LLC bought a new position in shares of Solaris Energy Infrastructure during the first quarter valued at approximately $435,000. Rhumbline Advisers purchased a new stake in Solaris Energy Infrastructure in the first quarter worth $962,000. Retirement Planning Group LLC purchased a new stake in Solaris Energy Infrastructure in the first quarter worth $802,000. Finally, Riverview Trust Co bought a new stake in Solaris Energy Infrastructure in the first quarter valued at $47,000. 67.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Solaris Energy Infrastructure Stock Performance

NASDAQ:SEI traded down $0.58 during trading hours on Friday, reaching $30.04. The company had a trading volume of 220,528 shares, compared to its average volume of 1,508,080. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 67.56 and a beta of 1.14. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77. The firm's 50 day moving average price is $29.81 and its 200-day moving average price is $26.24. Solaris Energy Infrastructure, Inc. has a 52 week low of $10.96 and a 52 week high of $39.03.

Solaris Energy Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a 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 analysts have commented on SEI shares. Stifel Nicolaus restated a "buy" rating and issued a $45.00 price objective (up from $41.00) on shares of Solaris Energy Infrastructure in a report on Friday, July 25th. Northland Capmk upgraded shares of Solaris Energy Infrastructure to a "strong-buy" rating in a report on Tuesday, April 22nd. Piper Sandler lifted their price objective on Solaris Energy Infrastructure from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Barclays upped their target price on Solaris Energy Infrastructure from $39.00 to $44.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Wall Street Zen cut Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a research note on Wednesday, June 25th. 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 stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $43.78.

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.