SOLV Energy Inc. (NASDAQ:MWH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of SOLV Energy Inc. (NASDAQ:MWH) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $39.91.

A number of brokerages recently weighed in on MWH. Weiss Ratings upgraded SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 14th. TD Cowen raised their price objective on SOLV Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Zacks Research lowered SOLV Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $42.00 target price on shares of SOLV Energy in a report on Friday, August 14th. Finally, Robert W. Baird cut their price target on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 14th.

Hedge Funds Weigh In On SOLV Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC purchased a new stake in SOLV Energy during the 2nd quarter worth $1,675,000. Maven Securities LTD purchased a new position in SOLV Energy in the second quarter valued at about $535,000. Squarepoint Ops LLC acquired a new position in shares of SOLV Energy during the second quarter worth about $4,037,000. Arizona State Retirement System acquired a new position in shares of SOLV Energy during the second quarter worth about $222,000. Finally, American Securities LLC purchased a new stake in shares of SOLV Energy in the second quarter worth about $2,823,440,000.

SOLV Energy Stock Performance

NASDAQ:MWH opened at $25.05 on Friday. The company has a market cap of $5.07 billion and a P/E ratio of 83.50. The firm’s 50 day moving average is $27.46 and its two-hundred day moving average is $31.57. SOLV Energy has a fifty-two week low of $23.83 and a fifty-two week high of $48.40. 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 (NASDAQ:MWH) last announced 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 company had revenue of $951.24 million for the quarter. SOLV Energy’s revenue was up 77.4% compared to the same quarter last year. Analysts expect that SOLV Energy will post 1.28 EPS for the current year.

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.