Principal Financial Group Inc. Sells 321,691 Shares of Solaris Energy Infrastructure, Inc. $SEI

Principal Financial Group Inc. cut its stake in Solaris Energy Infrastructure, Inc. (NYSE:SEI) by 21.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,144,652 shares of the company’s stock after selling 321,691 shares during the quarter. Principal Financial Group Inc.’s holdings in Solaris Energy Infrastructure were worth $64,684,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of Solaris Energy Infrastructure by 344.9% during the 4th quarter. Signaturefd LLC now owns 614 shares of the company’s stock worth $28,000 after purchasing an additional 476 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Solaris Energy Infrastructure in the fourth quarter valued at about $28,000. Strs Ohio bought a new position in Solaris Energy Infrastructure in the first quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new position in Solaris Energy Infrastructure in the third quarter worth about $31,000. Finally, Larson Financial Group LLC lifted its position in shares of Solaris Energy Infrastructure by 363.0% during the third quarter. Larson Financial Group LLC now owns 1,014 shares of the company’s stock valued at $41,000 after buying an additional 795 shares during the last quarter. 67.44% of the stock is owned by institutional investors.

Solaris Energy Infrastructure Stock Down 8.5%

NYSE:SEI opened at $61.39 on Friday. The company has a market cap of $4.51 billion, a PE ratio of 68.98 and a beta of 1.17. Solaris Energy Infrastructure, Inc. has a twelve month low of $24.57 and a twelve month high of $86.19. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average is $73.16 and its two-hundred day moving average is $62.65.

Solaris Energy Infrastructure (NYSE:SEI) last issued its quarterly earnings results on Monday, April 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.18. The business had revenue of $196.24 million for the quarter. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. Analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.09 EPS for the current year.

Insider Activity

In other news, Director Aj Teague bought 2,750 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average cost of $72.98 per share, with a total value of $200,695.00. Following the transaction, the director directly owned 11,060 shares in the company, valued at approximately $807,158.80. The trade was a 33.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laurie H. Argo sold 5,200 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $72.88, for a total value of $378,976.00. Following the completion of the transaction, the director owned 44,839 shares of the company’s stock, valued at $3,267,866.32. This trade represents a 10.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,099,593 shares of company stock valued at $297,782,099. 20.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SEI shares. Citigroup raised their price target 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. Zacks Research cut shares of Solaris Energy Infrastructure from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Wolfe Research began coverage on shares of Solaris Energy Infrastructure in a research note on Monday, July 6th. They issued an “outperform” rating and a $120.00 target price for the company. Barclays lifted their price target on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Northland Securities set a $104.00 price objective on Solaris Energy Infrastructure in a report on Friday, June 12th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.25.

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.