SOLV Energy Inc. $MWH Stock: Ninety One North America Inc. Grows Stake

Key Points

• Ninety One North America increased its SOLV Energy stake by 317.4% in the third quarter, holding 283,807 shares worth approximately $6.8 million. Several other institutional investors also initiated or expanded positions.
• SOLV Energy reported quarterly EPS of $0.30, exceeding estimates of $0.26, while revenue reached $951.24 million—up 77.4% year over year.
• The stock recently traded near $24.16, close to its 52-week low, while analysts maintain a “Moderate Buy” consensus with an average price target of $38.55 despite several target-price reductions.

Ninety One North America Inc. raised its holdings in shares of SOLV Energy Inc. (NASDAQ:MWH - Free Report) by 317.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,807 shares of the company's stock after purchasing an additional 215,812 shares during the quarter. Ninety One North America Inc. owned 0.14% of SOLV Energy worth $6,817,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sax Wealth Advisors LLC bought a new position in shares of SOLV Energy during the 3rd quarter worth approximately $354,000. GAMMA Investing LLC boosted its position in SOLV Energy by 4,255.2% in the third quarter. GAMMA Investing LLC now owns 1,263 shares of the company's stock worth $30,000 after purchasing an additional 1,234 shares during the last quarter. Green Alpha Advisors LLC bought a new position in SOLV Energy in the 3rd quarter valued at $1,092,000. Tidal Investments LLC bought a new position in SOLV Energy in the 2nd quarter valued at $1,675,000. Finally, Maven Securities LTD purchased a new stake in shares of SOLV Energy during the 2nd quarter valued at $535,000.

SOLV Energy Stock Performance

SOLV Energy stock traded down $0.14 during trading on Thursday, hitting $24.16. The stock had a trading volume of 463,921 shares, compared to its average volume of 1,521,244. SOLV Energy Inc. has a 1 year low of $23.12 and a 1 year high of $48.40. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock's 50 day moving average is $26.69 and its two-hundred day moving average is $31.22. The stock has a market cap of $4.89 billion and a price-to-earnings ratio of 80.63.

SOLV Energy (NASDAQ:MWH - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.04. The firm had revenue of $951.24 million during the quarter. SOLV Energy's quarterly revenue was up 77.4% compared to the same quarter last year. As a group, analysts predict that SOLV Energy Inc. will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

MWH has been the topic of a number of recent analyst reports. KeyCorp lowered their target price on SOLV Energy from $43.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday. Weiss Ratings lowered shares of SOLV Energy from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 25th. Robert W. Baird reduced their price target on shares of SOLV Energy from $50.00 to $42.00 and set an "outperform" rating for the company in a research report on Friday, August 14th. Zacks Research downgraded shares of SOLV Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and issued a $42.00 price objective on shares of SOLV Energy in a research report on Friday, August 14th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, SOLV Energy presently has an average rating of "Moderate Buy" and an average price target of $38.55.

SOLV Energy Profile

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.

Want to see what other hedge funds are holding MWH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SOLV Energy Inc. (NASDAQ:MWH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.