Zacks Research Downgrades SOLV Energy (NASDAQ:MWH) to Hold

SOLV Energy (NASDAQ:MWH) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

MWH has been the topic of several other reports. UBS Group reiterated a “neutral” rating and issued a $50.00 price objective (up from $42.00) on shares of SOLV Energy in a research report on Thursday, May 14th. TD Cowen boosted their target price on SOLV Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Guggenheim boosted their price objective on SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. KeyCorp upped their price objective on SOLV Energy from $36.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings raised SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.91.

SOLV Energy Price Performance

Shares of NASDAQ MWH opened at $25.09 on Tuesday. 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. The firm has a market cap of $5.08 billion and a PE ratio of 83.63. The business has a 50 day moving average price of $28.24 and a two-hundred day moving average price of $31.93.

SOLV Energy (NASDAQ:MWH) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $951.24 million for the quarter. The company’s revenue was up 77.4% on a year-over-year basis. Sell-side analysts expect that SOLV Energy will post 1.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. American Securities LLC bought a new stake in shares of SOLV Energy during the 2nd quarter worth $2,823,440,000. California State Teachers Retirement System acquired a new stake in shares of SOLV Energy during the second quarter worth $30,983,000. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of SOLV Energy during the second quarter worth $18,320,262. Wellington Management Group LLP purchased a new stake in shares of SOLV Energy during the second quarter valued at $4,852,000. Finally, Squarepoint Ops LLC acquired a new position in shares of SOLV Energy in the 2nd quarter valued at $4,037,000.

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.