Channing Capital Management LLC Purchases 68,382 Shares of Solaris Energy Infrastructure, Inc. $SEI

by · The Markets Daily

Channing Capital Management LLC grew its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI – Free Report) by 24.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 353,292 shares of the company’s stock after buying an additional 68,382 shares during the period. Channing Capital Management LLC owned 0.52% of Solaris Energy Infrastructure worth $9,995,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SEI. Assetmark Inc. bought a new stake in Solaris Energy Infrastructure in the 2nd quarter valued at about $25,000. Strs Ohio bought a new stake in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $28,000. US Bancorp DE purchased a new stake in shares of Solaris Energy Infrastructure during the 1st quarter valued at approximately $38,000. Nisa Investment Advisors LLC boosted its holdings in Solaris Energy Infrastructure by 17.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,199 shares of the company’s stock worth $62,000 after buying an additional 333 shares during the period. Finally, Ameritas Investment Partners Inc. grew its stake in Solaris Energy Infrastructure by 20.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,724 shares of the company’s stock valued at $105,000 after buying an additional 623 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Solaris Energy Infrastructure Stock Performance

NYSE:SEI opened at $53.23 on Thursday. The stock has a market cap of $3.64 billion, a P/E ratio of 56.63 and a beta of 1.14. The company has a quick ratio of 2.28, a current ratio of 2.39 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $47.97 and its two-hundred day moving average price is $36.04. Solaris Energy Infrastructure, Inc. has a twelve month low of $14.27 and a twelve month high of $57.17.

Solaris Energy Infrastructure (NYSE:SEI – Get Free Report) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.24 by $0.08. The company had revenue of $166.84 million during the quarter, compared to analyst estimates of $142.82 million. Solaris Energy Infrastructure had a return on equity of 9.38% and a net margin of 7.02%. As a group, equities analysts predict that Solaris Energy Infrastructure, Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SEI has been the topic of several recent research reports. 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. Northland Securities set a $61.00 target price on Solaris Energy Infrastructure in a research note on Thursday, October 9th. Barclays lifted their target price on Solaris Energy Infrastructure from $44.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a report on Monday. Finally, Citigroup boosted their price objective on shares of Solaris Energy Infrastructure from $38.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $52.80.

Read Our Latest Report on SEI

Insider Transactions at Solaris Energy Infrastructure

In related news, CFO Kyle S. Ramachandran acquired 2,000 shares of the stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the transaction, the chief financial officer owned 370,338 shares in the company, valued at $9,258,450. This represents a 0.54% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ktr Management Company, Llc sold 2,114,783 shares of Solaris Energy Infrastructure stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $50.15, for a total transaction of $106,056,367.45. The disclosure for this sale is available in the SEC filing. Insiders own 21.20% of the company’s stock.

About Solaris Energy Infrastructure

(Free Report)

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.

Further Reading

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