SOLV Energy Inc. $MWH Stock Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its SOLV Energy stake by 31.5% in the third quarter, adding 47,706 shares to own 199,122 shares valued at approximately $4.8 million.
• Other institutions also expanded their positions, including Ninety One UK, which boosted its holdings by 422.7%, while several investment firms initiated new stakes.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $38.55, despite the stock opening at $23.27 and trading near its 12-month low. SOLV Energy recently beat quarterly EPS estimates and reported 77.4% year-over-year revenue growth.

Asset Management One Co. Ltd. boosted its stake in SOLV Energy Inc. (NASDAQ:MWH - Free Report) by 31.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,122 shares of the company's stock after buying an additional 47,706 shares during the period. Asset Management One Co. Ltd. owned 0.10% of SOLV Energy worth $4,783,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MWH. American Securities LLC acquired a new stake in SOLV Energy during the second quarter valued at $2,823,440,000. Ninety One UK Ltd grew its position in shares of SOLV Energy by 422.7% during the 3rd quarter. Ninety One UK Ltd now owns 1,532,243 shares of the company's stock worth $36,804,000 after buying an additional 1,239,122 shares during the period. Neumeier Poma Investment Counsel LLC acquired a new position in SOLV Energy in the 2nd quarter worth $18,320,262. Ninety One North America Inc. boosted its holdings in shares of SOLV Energy by 317.4% in the 3rd quarter. Ninety One North America Inc. now owns 283,807 shares of the company's stock valued at $6,817,000 after buying an additional 215,812 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in SOLV Energy in the 2nd quarter valued at about $4,852,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and issued a $42.00 target price on shares of SOLV Energy in a report on Friday, August 14th. KeyCorp dropped their price objective on shares of SOLV Energy from $43.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, October 15th. TD Cowen boosted their price objective on SOLV Energy from $32.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Zacks Research cut shares of SOLV Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. Finally, Robert W. Baird decreased their target price on shares of SOLV Energy from $50.00 to $42.00 and set an "outperform" rating on the stock in a research report on Friday, August 14th. 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.55.

SOLV Energy Price Performance

Shares of NASDAQ MWH opened at $23.27 on Monday. The stock has a market cap of $4.71 billion and a PE ratio of 77.57. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. SOLV Energy Inc. has a 12-month low of $20.30 and a 12-month high of $48.40. The company has a 50-day moving average of $25.09 and a 200 day moving average of $30.38.

SOLV Energy (NASDAQ:MWH - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. The business had revenue of $951.24 million during the quarter. The company's quarterly revenue was up 77.4% on a year-over-year basis. As a group, sell-side analysts predict that SOLV Energy Inc. will post 1.22 EPS for the current fiscal year.

SOLV Energy Company Profile

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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