Assenagon Asset Management S.A. Boosts Stock Position in Solaris Energy Infrastructure, Inc. $SEI

Assenagon Asset Management S.A. increased its stake in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 89.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 431,923 shares of the company’s stock after acquiring an additional 204,381 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Solaris Energy Infrastructure were worth $24,408,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Signaturefd LLC increased its holdings in shares of Solaris Energy Infrastructure by 344.9% in the 4th quarter. Signaturefd LLC now owns 614 shares of the company’s stock valued at $28,000 after acquiring an additional 476 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Solaris Energy Infrastructure during the 4th quarter worth approximately $28,000. Strs Ohio purchased a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Solaris Energy Infrastructure in the 3rd quarter valued at $31,000. Finally, Larson Financial Group LLC boosted its stake in Solaris Energy Infrastructure by 363.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,014 shares of the company’s stock worth $41,000 after purchasing an additional 795 shares during the period. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Solaris Energy Infrastructure

In other news, major shareholder Ktr Management Company, Llc sold 2,000,000 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $70.75, for a total transaction of $141,500,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director W Howard Keenan, Jr. sold 2,000,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was 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. In the last quarter, insiders sold 4,099,593 shares of company stock valued at $297,782,099. Insiders own 20.23% of the company’s stock.

Solaris Energy Infrastructure Stock Down 3.6%

Shares of NYSE SEI opened at $76.56 on Friday. The business has a fifty day moving average of $73.57 and a two-hundred day moving average of $60.36. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.07 and a current ratio of 1.11. The stock has a market cap of $5.63 billion, a PE ratio of 86.02 and a beta of 1.19. Solaris Energy Infrastructure, Inc. has a 52-week low of $24.57 and a 52-week high of $86.19.

Solaris Energy Infrastructure (NYSE:SEI) last issued its quarterly earnings results on Monday, April 27th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.26 by $0.18. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The company had revenue of $196.24 million during the quarter. As a group, equities research analysts expect that Solaris Energy Infrastructure, Inc. will post 1.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SEI shares. Weiss Ratings raised shares of Solaris Energy Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Morgan Stanley increased their target price on Solaris Energy Infrastructure from $81.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Barclays upped their price objective on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Stifel Nicolaus upped their target price on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Glj Research initiated coverage on shares of Solaris Energy Infrastructure in a research report on Thursday, March 5th. They issued a “buy” rating and a $60.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.80.

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.