Zacks Research Upgrades SOLV Energy (NASDAQ:MWH) to Strong-Buy

SOLV Energy (NASDAQ:MWH) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other analysts have also recently commented on MWH. Canadian Imperial Bank of Commerce boosted their price target on SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a research report on Monday, April 20th. Robert W. Baird raised their price objective on SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Weiss Ratings started coverage on SOLV Energy in a research note on Wednesday, June 3rd. They set a “sell (d)” rating for the company. Guggenheim boosted their target price on SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, UBS Group reissued a “neutral” rating and issued a $50.00 target price (up from $42.00) on shares of SOLV Energy in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.00.

SOLV Energy Stock Performance

Shares of MWH opened at $30.28 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.06 and a current ratio of 1.06. SOLV Energy has a fifty-two week low of $23.83 and a fifty-two week high of $48.40. The business has a 50-day simple moving average of $30.73.

Hedge Funds Weigh In On SOLV Energy

A hedge fund recently raised its position in SOLV Energy stock. Bank of New York Mellon Corp boosted its holdings in SOLV Energy Inc. (NASDAQ:MWH) by 697.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,660 shares of the company’s stock after acquiring an additional 86,290 shares during the quarter. Bank of New York Mellon Corp owned 0.08% of SOLV Energy worth $3,359,000 at the end of the most recent quarter.

About SOLV Energy

SOLV Energy (NASDAQ: MWH) is a renewable energy company that develops, constructs and operates solar and energy storage projects. The firm provides solutions aimed at reducing customers’ reliance on traditional grid power by pairing photovoltaic systems with battery storage where appropriate. SOLV’s activities are centered on delivering commercial-scale and distributed generation projects for business, institutional and public sector clients.

The company’s services encompass multiple phases of project delivery, including site assessment, system design, procurement, engineering and construction, and ongoing operations and maintenance.