SOLV Energy (NASDAQ:MWH) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of SOLV Energy (NASDAQ:MWH) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks reports.

Several other brokerages also recently commented on MWH. TD Cowen upped their target price on shares of SOLV Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. UBS Group reaffirmed a “neutral” rating and set a $50.00 price objective (up from $42.00) on shares of SOLV Energy in a research note on Thursday, May 14th. Weiss Ratings raised shares of SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 14th. 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, KeyCorp increased their price target on SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SOLV Energy presently has a consensus rating of “Moderate Buy” and an average price target of $39.91.

SOLV Energy Stock Performance

NASDAQ:MWH opened at $25.09 on Tuesday. The firm has a market capitalization of $5.08 billion and a PE ratio of 83.63. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. SOLV Energy has a 12-month low of $23.83 and a 12-month high of $48.40. The firm has a 50-day moving average price of $28.24 and a 200 day moving average price of $31.93.

SOLV Energy (NASDAQ:MWH) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $951.24 million for the quarter. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. Research analysts anticipate that SOLV Energy will post 1.28 earnings per share for the current fiscal year.

Institutional Trading of SOLV Energy

A number of institutional investors have recently bought and sold shares of MWH. Bank of New York Mellon Corp lifted its stake in shares of SOLV Energy by 697.6% in the 2nd 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 period. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of SOLV Energy during the second quarter worth $18,320,262. Public Employees Retirement System of Ohio bought a new stake in SOLV Energy in the second quarter valued at about $375,000. Wellington Management Group LLP bought a new stake in SOLV Energy in the second quarter valued at about $4,852,000. Finally, Continuum Advisory LLC acquired a new position in SOLV Energy in the second quarter valued at about $142,000.

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.