Ninety One UK Ltd Purchases 1,239,122 Shares of SOLV Energy Inc. $MWH

Key Points

• Ninety One UK Ltd increased its SOLV Energy stake by 422.7% in the third quarter, acquiring 1,239,122 additional shares to own 1,532,243 shares, or 0.76% of the company.
• SOLV Energy’s stock opened at $23.94, near its 12-month low of $23.12 and well below its 12-month high of $48.40. The shares are also below their 50-day and 200-day moving averages.
• The company beat quarterly EPS estimates, reporting $0.30 versus the $0.26 consensus, while revenue rose 77.4% year over year to $951.24 million. Analysts maintain a Moderate Buy consensus rating with an average price target of $38.55.

Ninety One UK Ltd boosted its position in shares of SOLV Energy Inc. (NASDAQ:MWH - Free Report) by 422.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,532,243 shares of the company's stock after acquiring an additional 1,239,122 shares during the period. Ninety One UK Ltd owned 0.76% of SOLV Energy worth $36,804,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in SOLV Energy by 4,255.2% in the third 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 SOLV Energy in the second quarter worth $142,000. State of Alaska Department of Revenue acquired a new position in shares of SOLV Energy during the third quarter worth $154,000. Arizona State Retirement System acquired a new position in shares of SOLV Energy during the second quarter worth $222,000. Finally, Sax Wealth Advisors LLC purchased a new stake in shares of SOLV Energy during the 3rd quarter valued at $354,000.

SOLV Energy Trading Down 1.5%

NASDAQ:MWH opened at $23.94 on Friday. SOLV Energy Inc. has a twelve month low of $23.12 and a twelve month 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 moving average is $26.62 and its two-hundred day moving average is $31.19.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MWH shares. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $42.00 price objective on shares of SOLV Energy in a research report on Friday, August 14th. Zacks Research downgraded SOLV Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 8th. KeyCorp reduced their target price on SOLV Energy from $43.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday. Robert W. Baird decreased their price target on SOLV Energy from $50.00 to $42.00 and set an "outperform" rating for the company in a research note on Friday, August 14th. Finally, TD Cowen raised their price target on SOLV Energy from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.55.

About SOLV Energy

SOLV Energy is a renewable-energy services company focused on the development, construction, operation and maintenance of utility-scale solar power and energy-storage projects. The company provides engineering, procurement and construction services, helping project owners design and build large photovoltaic generation facilities and battery-storage systems.

In addition to project construction, SOLV Energy offers operations and maintenance, asset management, monitoring and technical services intended to support the long-term performance and reliability of renewable-energy assets.

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