American Securities LLC Takes Position in SOLV Energy Inc. $MWH

Key Points

• American Securities LLC acquired 82.9 million shares of SOLV Energy in the second quarter, valued at approximately $2.82 billion. The holding represents 40.97% of the company and 75.2% of the fund’s portfolio.
• SOLV Energy reported quarterly earnings of $0.30 per share, beating estimates of $0.26, while revenue rose 77.4% year over year to $951.24 million.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $39.91, substantially above the stock’s reported price of $25.27.

American Securities LLC purchased a new stake in SOLV Energy Inc. (NASDAQ:MWH - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 82,920,401 shares of the company's stock, valued at approximately $2,823,440,000. SOLV Energy comprises about 75.2% of American Securities LLC's portfolio, making the stock its largest position. American Securities LLC owned 40.97% of SOLV Energy at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Continuum Advisory LLC acquired a new position in SOLV Energy in the second quarter valued at $142,000. Public Employees Retirement System of Ohio acquired a new stake in SOLV Energy in the 2nd quarter worth about $375,000. Readystate Asset Management LP acquired a new stake in SOLV Energy in the 2nd quarter worth about $1,022,000. Bank of New York Mellon Corp grew its holdings in SOLV Energy by 697.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company's stock valued at $3,359,000 after buying an additional 86,290 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of SOLV Energy during the 2nd quarter valued at about $4,852,000.

SOLV Energy Price Performance

Shares of MWH opened at $25.27 on Monday. The company has a market capitalization of $5.11 billion and a PE ratio of 84.23. The stock's fifty day moving average price is $28.73. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. SOLV Energy Inc. has a 12-month low of $23.83 and a 12-month high of $48.40.

SOLV Energy (NASDAQ:MWH - Get Free Report) last announced its quarterly 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 company had revenue of $951.24 million for the quarter. The business's revenue was up 77.4% compared to the same quarter last year. As a group, research analysts anticipate that SOLV Energy Inc. will post 1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MWH shares. TD Cowen upped 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. Weiss Ratings raised SOLV Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. KeyCorp upped their price target on SOLV Energy from $36.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Zacks Research upgraded SOLV Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Guggenheim boosted their target price on SOLV Energy from $37.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $39.91.

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.

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