Solaris Energy Infrastructure, Inc. $SEI Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 61.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,877 shares of the company’s stock after selling 18,804 shares during the period. Intech Investment Management LLC’s holdings in Solaris Energy Infrastructure were worth $475,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SEI. Assetmark Inc. increased its stake in Solaris Energy Infrastructure by 29.1% in the third quarter. Assetmark Inc. now owns 1,130 shares of the company’s stock valued at $45,000 after purchasing an additional 255 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Solaris Energy Infrastructure by 2.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,917 shares of the company’s stock valued at $436,000 after buying an additional 295 shares during the period. Cerity Partners LLC increased its stake in shares of Solaris Energy Infrastructure by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 12,551 shares of the company’s stock valued at $355,000 after acquiring an additional 397 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Solaris Energy Infrastructure by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 32,282 shares of the company’s stock worth $913,000 after acquiring an additional 454 shares during the period. Finally, Ritholtz Wealth Management boosted its position in shares of Solaris Energy Infrastructure by 0.4% in the third quarter. Ritholtz Wealth Management now owns 133,717 shares of the company’s stock worth $5,345,000 after acquiring an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SEI shares. Barclays upped their price target on shares of Solaris Energy Infrastructure from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Piper Sandler increased their target price on Solaris Energy Infrastructure from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley assumed coverage on Solaris Energy Infrastructure in a research report on Tuesday, December 2nd. They set an “overweight” rating and a $68.00 price target for the company. Citigroup cut their price objective on Solaris Energy Infrastructure from $62.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, UBS Group set a $65.00 target price on Solaris Energy Infrastructure in a report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.10.

Solaris Energy Infrastructure Stock Performance

NYSE:SEI opened at $55.43 on Thursday. The firm’s fifty day simple moving average is $52.54 and its 200 day simple moving average is $46.84. The company has a current ratio of 2.96, a quick ratio of 2.87 and a debt-to-equity ratio of 1.37. Solaris Energy Infrastructure, Inc. has a twelve month low of $14.27 and a twelve month high of $61.36. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 78.07 and a beta of 1.13.

Solaris Energy Infrastructure (NYSE:SEI) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The firm had revenue of $179.70 million during the quarter. Solaris Energy Infrastructure had a return on equity of 11.83% and a net margin of 4.81%. As a group, equities research analysts expect that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Cynthia M. Durrett sold 47,011 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $44.62, for a total value of $2,097,630.82. Following the completion of the sale, the insider owned 131,152 shares in the company, valued at approximately $5,852,002.24. This trade represents a 26.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laurie H. Argo sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $44.25, for a total value of $101,775.00. Following the transaction, the director directly owned 50,039 shares in the company, valued at $2,214,225.75. This trade represents a 4.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 21.20% of the stock is currently owned by corporate insiders.

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.