Neumeier Poma Investment Counsel LLC Makes New $18.32 Billion Investment in SOLV Energy Inc. $MWH

Key Points

• Neumeier Poma Investment Counsel acquired 538,040 SOLV Energy shares in the second quarter, representing about 0.43% of the company; Bank of New York Mellon also increased its position by 697.6%.
• SOLV Energy reported quarterly EPS of $0.30, beating estimates of $0.26, while revenue rose 77.4% year over year to $951.24 million.
• Analyst sentiment is moderately bullish, with a consensus “Moderate Buy” rating and a $39.64 price target, despite the stock opening at $28.34 and trading well below its 52-week high of $48.40.

Neumeier Poma Investment Counsel LLC acquired a new position in shares of SOLV Energy Inc. (NASDAQ:MWH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 538,040 shares of the company's stock, valued at approximately $18,320,262,000. Neumeier Poma Investment Counsel LLC owned about 0.43% of SOLV Energy at the end of the most recent reporting period.

Separately, Bank of New York Mellon Corp boosted its holdings in shares of 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 last quarter.

SOLV Energy Stock Performance

Shares of SOLV Energy stock opened at $28.34 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The stock's 50-day simple moving average is $30.35. SOLV Energy Inc. has a 1-year low of $23.83 and a 1-year high of $48.40. The firm has a market cap of $5.74 billion and a P/E ratio of 94.47.

SOLV Energy (NASDAQ:MWH - Get Free Report) last announced 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 for the quarter. The business's revenue for the quarter was up 77.4% on a year-over-year basis. Equities research analysts forecast that SOLV Energy Inc. will post 1.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MWH. KeyCorp upped their target price on shares of SOLV Energy from $36.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Zacks Research upgraded SOLV Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $42.00 price objective on shares of SOLV Energy in a research report on Friday, August 14th. Robert W. Baird lowered their price target on SOLV Energy from $50.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, August 14th. Finally, Weiss Ratings raised shares of SOLV Energy from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.64.

SOLV Energy 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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