Jennison Associates LLC Acquires New Shares in Solaris Energy Infrastructure, Inc. $SEI

Jennison Associates LLC acquired a new stake in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) during the second quarter, according to its most recent filing with the SEC. The fund acquired 12,593 shares of the company’s stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in Solaris Energy Infrastructure by 17.8% during the second quarter. Nisa Investment Advisors LLC now owns 2,199 shares of the company’s stock worth $62,000 after buying an additional 333 shares in the last quarter. Ballentine Partners LLC grew its position in Solaris Energy Infrastructure by 6.0% during the second quarter. Ballentine Partners LLC now owns 10,210 shares of the company’s stock worth $289,000 after buying an additional 575 shares in the last quarter. Congress Asset Management Co. grew its position in Solaris Energy Infrastructure by 0.4% during the second quarter. Congress Asset Management Co. now owns 202,041 shares of the company’s stock worth $5,716,000 after buying an additional 786 shares in the last quarter. Strs Ohio purchased a new position in Solaris Energy Infrastructure during the first quarter worth about $28,000. Finally, Wayfinding Financial LLC purchased a new position in Solaris Energy Infrastructure during the first quarter worth about $29,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Kyle S. Ramachandran bought 2,000 shares of the stock in a transaction dated Tuesday, September 9th. The stock was bought at an average price of $25.00 per share, with a total value of $50,000.00. Following the purchase, the chief financial officer owned 370,338 shares in the company, valued at approximately $9,258,450. The trade was a 0.54% increase in their position. The acquisition 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 stock in a transaction dated Tuesday, September 9th. The stock was bought at an average cost of $24.83 per share, with a total value of $248,300.00. Following the purchase, the chief executive officer owned 1,049,227 shares in the company, valued at $26,052,306.41. The trade was a 0.96% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 21.20% of the company’s stock.

Solaris Energy Infrastructure Price Performance

SEI opened at $53.24 on Monday. The stock has a 50-day moving average price of $40.26 and a 200-day moving average price of $31.79. Solaris Energy Infrastructure, Inc. has a 12-month low of $12.78 and a 12-month high of $56.14. The company has a current ratio of 3.11, a quick ratio of 2.98 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $3.60 billion, a P/E ratio of 90.24 and a beta of 1.12.

Solaris Energy Infrastructure (NYSE:SEI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.08 earnings per share (EPS) for the quarter. Solaris Energy Infrastructure had a return on equity of 7.66% and a net margin of 4.99%.The firm had revenue of $75.02 million during the quarter. Equities analysts predict that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SEI has been the subject of several recent analyst reports. 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 research report on Friday, July 25th. Raymond James Financial restated an “outperform” rating and set a $38.00 target price (down from $39.00) on shares of Solaris Energy Infrastructure in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Solaris Energy Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Solaris Energy Infrastructure in a research report on Wednesday, October 8th. Finally, Barclays boosted 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. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $47.56.

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.