SOLV Energy Inc. (NASDAQ:MWH) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give SOLV Energy a “Moderate Buy” consensus: Ten of 13 analysts rate the stock a buy, one a strong buy, one a hold and one a sell. The average 12-month price target is $39.91.
• SOLV Energy beat quarterly earnings expectations, reporting $0.30 in EPS versus a $0.26 consensus, while revenue rose 77.4% year over year to $951.24 million.
• The stock opened at $26.29, well below its 12-month high of $48.40, while several institutional investors—including Wellington Management and Bank of New York Mellon—recently established or increased positions.

Shares of SOLV Energy Inc. (NASDAQ:MWH - Get Free Report) have been assigned an average rating of "Moderate Buy" from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $39.9091.

Several research firms have recently issued reports on MWH. Guggenheim increased their price target on SOLV Energy from $37.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. UBS Group reaffirmed a "neutral" rating and issued a $50.00 price objective (up from $42.00) on shares of SOLV Energy in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce reiterated 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 lowered their target price on shares of SOLV Energy from $50.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, August 14th. Finally, Zacks Research upgraded shares of SOLV Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th.

SOLV Energy Stock Performance

Shares of NASDAQ MWH opened at $26.29 on Monday. SOLV Energy has a 12-month low of $23.83 and a 12-month high of $48.40. The firm has a market capitalization of $5.32 billion and a P/E ratio of 87.63. The business's 50 day simple moving average 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 (NASDAQ:MWH - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.30 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. The business's revenue was up 77.4% compared to the same quarter last year. Sell-side analysts forecast that SOLV Energy will post 1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SOLV Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Continuum Advisory LLC bought a new position in SOLV Energy during the 2nd quarter valued at $142,000. Public Employees Retirement System of Ohio bought a new position in SOLV Energy during the second quarter valued at about $375,000. Readystate Asset Management LP acquired a new position in SOLV Energy during the second quarter worth about $1,022,000. Bank of New York Mellon Corp raised its position in SOLV Energy by 697.6% in the second quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company's stock worth $3,359,000 after acquiring an additional 86,290 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in SOLV Energy in the second quarter worth about $4,852,000.

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.

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