SOLV Energy Inc. (NASDAQ:MWH) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• SOLV Energy holds a “Moderate Buy” consensus rating from 13 analysts, with 10 buys, two holds and one sell. The average 12-month price target is $38.55.
• Recent analyst views were mixed: KeyCorp and JPMorgan lowered their targets to $35 and $34, respectively, while TD Cowen raised its target to $35 and CIBC maintained a $42 target.
• The stock opened at $23.85, near its 52-week low of $23.12. In its latest quarter, SOLV Energy reported $0.30 in EPS versus $0.26 expected, while revenue rose 77.4% year over year to $951.24 million.

SOLV Energy Inc. (NASDAQ:MWH - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirteen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $38.55.

MWH has been the subject of several recent analyst reports. KeyCorp dropped their target price on shares of SOLV Energy from $43.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday. Zacks Research lowered shares of SOLV Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 8th. TD Cowen increased their price target on SOLV Energy from $32.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. dropped their target price on SOLV Energy from $43.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and issued a $42.00 price target on shares of SOLV Energy in a research note on Friday, August 14th.

Institutional Investors Weigh In On SOLV Energy

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in SOLV Energy by 4,255.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company's stock valued at $30,000 after acquiring an additional 1,234 shares in the last quarter. Continuum Advisory LLC purchased a new position in shares of SOLV Energy in the 2nd quarter valued at approximately $142,000. State of Alaska Department of Revenue acquired a new stake in shares of SOLV Energy during the third quarter worth $154,000. Arizona State Retirement System acquired a new stake in SOLV Energy during the 2nd quarter worth about $222,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of SOLV Energy during the second quarter worth about $375,000.

SOLV Energy Trading Down 0.5%

NASDAQ:MWH opened at $23.85 on Tuesday. SOLV Energy has a one year low of $23.12 and a one year high of $48.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The company's 50-day simple moving average is $26.42 and its 200 day simple moving average is $31.11. The firm has a market capitalization of $4.83 billion and a P/E ratio of 79.50.

SOLV Energy (NASDAQ:MWH - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, topping 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. As a group, analysts forecast that SOLV Energy will post 1.22 EPS for the current fiscal year.

About SOLV Energy

SOLV Energy is a renewable energy company that provides engineering, procurement and construction (EPC) services for utility-scale solar power and battery energy storage projects. Its services span project design, construction management, commissioning and related infrastructure development.

The company also provides operations and maintenance, asset management and optimization services intended to support the long-term performance and reliability of renewable energy facilities. SOLV Energy serves utility, commercial and institutional customers, primarily across the United States.

The company was previously known as Swinerton Renewable Energy and adopted the SOLV Energy name in 2021.

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