Principal Financial Group Inc. Reduces Holdings in Solaris Energy Infrastructure, Inc. $SEI

Principal Financial Group Inc. lowered its position in Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 25.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 66,032 shares of the company’s stock after selling 22,115 shares during the period. Principal Financial Group Inc.’s holdings in Solaris Energy Infrastructure were worth $2,639,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Assetmark Inc. purchased a new position in shares of Solaris Energy Infrastructure in the second quarter worth about $25,000. Strs Ohio purchased a new position in Solaris Energy Infrastructure in the 1st quarter valued at approximately $28,000. Nisa Investment Advisors LLC raised its holdings in Solaris Energy Infrastructure by 17.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,199 shares of the company’s stock valued at $62,000 after acquiring an additional 333 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Solaris Energy Infrastructure by 2,227.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,746 shares of the company’s stock worth $78,000 after acquiring an additional 2,628 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Solaris Energy Infrastructure by 88.1% during the second quarter. BNP Paribas Financial Markets now owns 3,366 shares of the company’s stock worth $95,000 after acquiring an additional 1,577 shares in the last quarter. 67.44% of the stock is owned by hedge funds and other institutional investors.

Solaris Energy Infrastructure Stock Up 10.4%

Shares of NYSE:SEI opened at $56.80 on Tuesday. The firm has a market capitalization of $3.89 billion, a PE ratio of 60.43 and a beta of 1.14. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.28 and a current ratio of 2.39. Solaris Energy Infrastructure, Inc. has a 52-week low of $14.27 and a 52-week high of $61.36. The firm has a fifty day moving average of $50.90 and a 200 day moving average of $44.34.

Insider Transactions at Solaris Energy Infrastructure

In other news, Director Laurie H. Argo sold 2,300 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $44.25, for a total transaction of $101,775.00. Following the transaction, the director directly owned 50,039 shares in the company, valued at approximately $2,214,225.75. This represents a 4.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aj Teague acquired 2,310 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were purchased at an average cost of $43.13 per share, for a total transaction of $99,630.30. Following the completion of the acquisition, the director owned 106,465 shares in the company, valued at $4,591,835.45. This represents a 2.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 21.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SEI shares. Morgan Stanley initiated coverage on Solaris Energy Infrastructure in a research note on Tuesday, December 2nd. They set an “overweight” rating and a $68.00 price objective on the stock. Barclays upped their price target on Solaris Energy Infrastructure from $44.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Zacks Research lowered shares of Solaris Energy Infrastructure from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. UBS Group set a $65.00 target price on shares of Solaris Energy Infrastructure in a report on Tuesday, January 27th. Finally, Piper Sandler raised their price target on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.10.

Solaris Energy Infrastructure Company 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.