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

Shares of SOLV Energy Inc. (NASDAQ:MWH) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $39.9091.

Several equities research analysts recently issued reports on MWH shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $42.00 price objective on shares of SOLV Energy in a research note on Friday, August 14th. Robert W. Baird dropped their target price on SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 14th. UBS Group reissued a “neutral” rating and issued a $50.00 price target (up from $42.00) on shares of SOLV Energy in a research report on Thursday, May 14th. Zacks Research upgraded shares of SOLV Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Guggenheim boosted their price objective on shares of SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th.

Institutional Investors Weigh In On SOLV Energy

A number of institutional investors have recently modified their holdings of MWH. Continuum Advisory LLC purchased a new position in shares of SOLV Energy during the 2nd quarter valued at $142,000. Public Employees Retirement System of Ohio purchased a new stake in shares of SOLV Energy during the second quarter worth $375,000. Readystate Asset Management LP purchased a new stake in shares of SOLV Energy during the second quarter worth $1,022,000. Bank of New York Mellon Corp boosted its position in SOLV Energy by 697.6% during the second 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 last quarter. Finally, Wellington Management Group LLP acquired a new stake in SOLV Energy during the second quarter valued at $4,852,000.

SOLV Energy Stock Performance

NASDAQ MWH opened at $26.29 on Monday. The business’s 50 day moving average price is $29.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. SOLV Energy has a twelve month low of $23.83 and a twelve month high of $48.40. The stock has a market cap of $5.32 billion and a PE ratio of 87.63.

SOLV Energy (NASDAQ:MWH) last released its earnings results on Thursday, August 13th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $951.24 million during the quarter. The firm’s revenue for the quarter was up 77.4% on a year-over-year basis. On average, research analysts forecast that SOLV Energy will post 1.28 EPS for the current fiscal year.

SOLV Energy Company Profile

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.