Squarepoint Ops LLC Makes New $4.04 Million Investment in SOLV Energy Inc. $MWH

Squarepoint Ops LLC acquired a new stake in shares of SOLV Energy Inc. (NASDAQ:MWH) in the second quarter, Holdings Channel.com reports. The fund acquired 118,555 shares of the company’s stock, valued at approximately $4,037,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System purchased a new stake in shares of SOLV Energy during the second quarter valued at $222,000. American Securities LLC acquired a new stake in SOLV Energy during the 2nd quarter worth about $2,823,440,000. California State Teachers Retirement System purchased a new stake in SOLV Energy during the second quarter valued at about $30,983,000. Readystate Asset Management LP acquired a new position in shares of SOLV Energy in the second quarter worth about $1,022,000. Finally, Continuum Advisory LLC purchased a new position in shares of SOLV Energy in the second quarter worth approximately $142,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research lowered shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $42.00 target price on shares of SOLV Energy in a research report on Friday, August 14th. Robert W. Baird dropped their price target on SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 14th. TD Cowen lifted their target price on SOLV Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Finally, Weiss Ratings raised shares of SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Ten research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.91.

SOLV Energy Stock Performance

Shares of MWH opened at $26.00 on Friday. The firm has a market cap of $5.26 billion and a price-to-earnings ratio of 86.67. The company’s fifty day moving average is $28.03 and its 200-day moving average is $31.83. 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 Inc. has a 12 month low of $23.83 and a 12 month high of $48.40.

SOLV Energy (NASDAQ:MWH) last released its quarterly earnings data 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 revenue for the quarter was up 77.4% on a year-over-year basis. Equities analysts expect that SOLV Energy Inc. will post 1.28 EPS for the current fiscal year.

SOLV Energy Profile

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.