Shares of SOLV Energy Inc. (NASDAQ:MWH – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $38.55.
Several equities analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $42.00 target price on shares of SOLV Energy in a research note on Friday, August 14th. Weiss Ratings downgraded shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Zacks Research downgraded shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. KeyCorp cut their target price on shares of SOLV Energy from $43.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. Finally, TD Cowen lifted their price target on shares of SOLV Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th.
Read Our Latest Research Report on SOLV Energy
SOLV Energy Trading Up 3.0%
Shares of MWH opened at $22.03 on Tuesday. The business’s fifty day moving average is $25.83 and its 200-day moving average is $30.60. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. SOLV Energy has a 52-week low of $20.30 and a 52-week high of $48.40.
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, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $951.24 million during the quarter. SOLV Energy’s quarterly revenue was up 77.4% on a year-over-year basis. As a group, analysts forecast that SOLV Energy will post 1.22 earnings per share for the current year.
Hedge Funds Weigh In On SOLV Energy
A number of institutional investors have recently made changes to their positions in MWH. Ninety One UK Ltd raised its stake in shares of SOLV Energy by 422.7% in the 3rd quarter. Ninety One UK Ltd now owns 1,532,243 shares of the company’s stock worth $36,804,000 after buying an additional 1,239,122 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in SOLV Energy during the third quarter valued at approximately $154,000. Ninety One North America Inc. grew its stake in SOLV Energy by 317.4% during the third quarter. Ninety One North America Inc. now owns 283,807 shares of the company’s stock worth $6,817,000 after buying an additional 215,812 shares during the last quarter. Sax Wealth Advisors LLC bought a new stake in shares of SOLV Energy during the third quarter valued at approximately $354,000. Finally, GAMMA Investing LLC grew its holdings in SOLV Energy by 4,255.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock worth $30,000 after acquiring an additional 1,234 shares during the period.
SOLV Energy Company Profile
SOLV Energy is a renewable energy company that provides engineering, procurement and construction (EPC) services for utility-scale solar power and battery energy storage projects. Its services span project design, construction management, commissioning and related infrastructure development.
The company also provides operations and maintenance, asset management and optimization services intended to support the long-term performance and reliability of renewable energy facilities. SOLV Energy serves utility, commercial and institutional customers, primarily across the United States.
The company was previously known as Swinerton Renewable Energy and adopted the SOLV Energy name in 2021.
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