SOLV Energy Inc. (NASDAQ:MWH – Get Free Report) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $23.80 and last traded at $23.86, with a volume of 302879 shares. The stock had previously closed at $25.20.
Analyst Ratings Changes
Several brokerages have commented on MWH. Weiss Ratings upgraded shares of SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 14th. TD Cowen boosted their price target on shares of SOLV Energy from $32.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Zacks Research downgraded shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of SOLV Energy in a research note on Friday, August 14th. Finally, Robert W. Baird cut their target price on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 14th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SOLV Energy currently has an average rating of “Moderate Buy” and an average target price of $39.91.
Check Out Our Latest Report on SOLV Energy
SOLV Energy Trading Down 5.5%
SOLV Energy (NASDAQ:MWH – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $951.24 million during the quarter. The firm’s revenue for the quarter was up 77.4% compared to the same quarter last year. Sell-side analysts forecast that SOLV Energy Inc. will post 1.28 EPS for the current year.
Institutional Investors Weigh In On SOLV Energy
Institutional investors have recently modified their holdings of the stock. American Securities LLC purchased a new position in shares of SOLV Energy during the 2nd quarter valued at $2,823,440,000. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of SOLV Energy during the second quarter worth $18,320,262. Wellington Management Group LLP purchased a new stake in shares of SOLV Energy during the second quarter worth $4,852,000. Squarepoint Ops LLC acquired a new stake in SOLV Energy during the second quarter valued at $4,037,000. Finally, Bank of New York Mellon Corp boosted its position in SOLV Energy by 697.6% during the second quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company’s stock valued at $3,359,000 after purchasing an additional 86,290 shares during the last quarter.
About SOLV Energy
SOLV Energy is a renewable-energy services company that specializes in the development, engineering, procurement and construction of utility-scale solar power projects. The company also provides operations and maintenance services intended to support the long-term performance, reliability and efficiency of solar facilities.
In addition to solar photovoltaic installations, SOLV Energy works on battery energy-storage projects and related electrical infrastructure. Its services span project planning and design, equipment procurement, construction management, commissioning, and ongoing technical and field support for renewable-energy assets.
The company was formerly known as Swinerton Renewable Energy and adopted the SOLV Energy name in 2021.
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