SOLV Energy Inc. $MWH Stock: Robeco Schweiz AG Lowers Holdings

Key Points

• Robeco Schweiz AG reduced its SOLV Energy stake by 3.9% in the third quarter, selling 103,266 shares. It still held 2.54 million shares worth about $61 million, representing a 1.25% ownership stake.
• Analysts maintain a generally positive outlook, with 10 Buy ratings, two Holds and one Sell. The consensus rating is “Moderate Buy,” with an average price target of $38.55, despite several analysts lowering their targets.
• SOLV Energy shares opened at $21.38, near their one-year low of $20.30 and well below the $48.40 high. The company recently beat quarterly EPS estimates, reporting $0.30 per share, while revenue rose 77.4% year over year to $951.24 million.

Robeco Schweiz AG lessened its holdings in SOLV Energy Inc. (NASDAQ:MWH - Free Report) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,538,139 shares of the company's stock after selling 103,266 shares during the quarter. SOLV Energy accounts for approximately 1.1% of Robeco Schweiz AG's investment portfolio, making the stock its 27th biggest holding. Robeco Schweiz AG owned 1.25% of SOLV Energy worth $60,966,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew 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 valued at $30,000 after purchasing an additional 1,234 shares in the last quarter. Continuum Advisory LLC acquired a new stake in SOLV Energy in the 2nd quarter valued at $142,000. State of Alaska Department of Revenue acquired a new stake in SOLV Energy in the 3rd quarter valued at $154,000. Arizona State Retirement System bought a new stake in SOLV Energy during the 2nd quarter worth about $222,000. Finally, Public Employees Retirement System of Ohio bought a new stake in SOLV Energy during the 2nd quarter worth about $375,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp reduced their price objective on shares of SOLV Energy from $43.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, October 15th. Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $42.00 price objective on shares of SOLV Energy in a report on Friday, August 14th. Weiss Ratings downgraded SOLV Energy from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 25th. Robert W. Baird dropped their target price on SOLV Energy from $50.00 to $42.00 and set an "outperform" rating on the stock in a report on Friday, August 14th. Finally, TD Cowen increased their price target on SOLV Energy from $32.00 to $35.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.55.

SOLV Energy Stock Performance

NASDAQ MWH opened at $21.38 on Friday. The firm has a market capitalization of $4.33 billion and a P/E ratio of 71.27. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. The firm's fifty day moving average price is $25.70 and its two-hundred day moving average price is $30.90. SOLV Energy Inc. has a 1 year low of $20.30 and a 1 year high of $48.40.

SOLV Energy (NASDAQ:MWH - Get Free Report) last announced 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 firm had revenue of $951.24 million during the quarter. The firm's quarterly revenue was up 77.4% on a year-over-year basis. As a group, research analysts anticipate that SOLV Energy Inc. will post 1.22 EPS for the current year.

SOLV Energy 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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