Simcoe Capital LLC bought a new position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI – Free Report) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 107,259 shares of the company’s stock, valued at approximately $4,931,000. Solaris Energy Infrastructure comprises 4.6% of Simcoe Capital LLC’s holdings, making the stock its 3rd biggest holding.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Solaris Energy Infrastructure by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 2,913,632 shares of the company’s stock worth $133,940,000 after acquiring an additional 248,762 shares during the period. Principal Financial Group Inc. increased its position in shares of Solaris Energy Infrastructure by 2,120.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company’s stock worth $67,408,000 after acquiring an additional 1,400,311 shares during the period. Van ECK Associates Corp increased its position in shares of Solaris Energy Infrastructure by 623.5% during the third quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company’s stock worth $51,797,000 after acquiring an additional 1,116,794 shares during the period. GW&K Investment Management LLC increased its position in shares of Solaris Energy Infrastructure by 12.5% during the third quarter. GW&K Investment Management LLC now owns 1,177,830 shares of the company’s stock worth $47,078,000 after acquiring an additional 130,975 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Solaris Energy Infrastructure by 88.9% during the third quarter. Two Sigma Investments LP now owns 1,007,320 shares of the company’s stock worth $40,263,000 after acquiring an additional 474,087 shares during the period. 67.44% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Piper Sandler raised their target price on shares of Solaris Energy Infrastructure from $65.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. UBS Group set a $65.00 price objective on shares of Solaris Energy Infrastructure in a report on Tuesday, January 27th. Zacks Research raised shares of Solaris Energy Infrastructure from a “strong sell” rating to a “hold” rating in a report on Thursday, March 12th. Glj Research assumed coverage on shares of Solaris Energy Infrastructure in a report on Thursday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Citigroup lifted their price objective on shares of Solaris Energy Infrastructure from $61.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.18.
Insider Buying and Selling
In other Solaris Energy Infrastructure news, major shareholder Ktr Management Company, Llc sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $70.75, for a total value of $141,500,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Howard Keenan, Jr. sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $74.50, for a total transaction of $149,000,000.00. The SEC filing for this sale provides additional information. Insiders sold 4,093,693 shares of company stock valued at $297,349,069 over the last quarter. Insiders own 20.23% of the company’s stock.
Solaris Energy Infrastructure Stock Performance
Shares of SEI stock opened at $76.43 on Wednesday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 85.88 and a beta of 1.25. The company’s 50 day moving average is $62.09 and its 200 day moving average is $54.50. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 1.23. Solaris Energy Infrastructure, Inc. has a 52-week low of $21.22 and a 52-week high of $81.24.
Solaris Energy Infrastructure (NYSE:SEI – Get Free Report) last announced its earnings results on Monday, April 27th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.18. The company had revenue of $196.24 million during the quarter. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. On average, sell-side analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.3 EPS for the current fiscal year.
Solaris Energy Infrastructure Profile
Solaris Energy Infrastructure Fund Inc (NYSE: SEI) is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues its objective by investing primarily in equity securities of energy infrastructure companies, including master limited partnerships (MLPs) and other midstream entities. SEI is externally managed by Solaris Asset Management LP, a firm specializing in energy infrastructure investments.
The fund’s portfolio targets businesses involved in the gathering, processing, transportation, storage and terminalling of oil, natural gas and refined products.
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