Squarepoint Ops LLC Takes Position in SOLV Energy Inc. $MWH

Key Points

• Squarepoint Ops LLC acquired 118,555 shares of SOLV Energy during the second quarter, worth approximately $4.04 million and representing a 0.06% stake. Several other institutional investors also initiated positions.
• SOLV Energy reported quarterly EPS of $0.30, beating estimates by $0.04, while revenue rose 77.4% year over year to $951.24 million.
• The stock opened at $26.00, well below its 12-month high of $48.40. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $39.91.

Squarepoint Ops LLC acquired a new position in SOLV Energy Inc. (NASDAQ:MWH - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 118,555 shares of the company's stock, valued at approximately $4,037,000. Squarepoint Ops LLC owned 0.06% of SOLV Energy as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MWH. Arizona State Retirement System acquired a new position in SOLV Energy during the 2nd quarter valued at about $222,000. American Securities LLC acquired a new stake in shares of SOLV Energy in the second quarter valued at approximately $2,823,440,000. California State Teachers Retirement System bought a new stake in shares of SOLV Energy during the second quarter valued at approximately $30,983,000. Readystate Asset Management LP bought a new stake in shares of SOLV Energy during the second quarter valued at approximately $1,022,000. Finally, Continuum Advisory LLC acquired a new position in shares of SOLV Energy during the second quarter worth approximately $142,000.

SOLV Energy Price Performance

Shares of NASDAQ:MWH opened at $26.00 on Friday. The stock has a market cap of $5.26 billion and a price-to-earnings ratio of 86.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. SOLV Energy Inc. has a 12 month low of $23.83 and a 12 month high of $48.40. The stock's 50 day moving average price is $28.03 and its 200 day moving average price is $31.83.

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 the consensus estimate of $0.26 by $0.04. The firm had revenue of $951.24 million for the quarter. The business's revenue was up 77.4% compared to the same quarter last year. Equities research analysts anticipate that SOLV Energy Inc. will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings raised SOLV Energy from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 14th. TD Cowen lifted their target price on SOLV Energy from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday, August 25th. Guggenheim boosted their price target on SOLV Energy from $37.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Zacks Research cut SOLV Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 8th. Finally, Robert W. Baird lowered their price target on SOLV Energy from $50.00 to $42.00 and set an "outperform" rating on the stock in a 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, SOLV Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.91.

About SOLV Energy

SOLV Energy is a renewable-energy services company that specializes in the development, engineering, procurement and construction of utility-scale solar power projects. The company also provides operations and maintenance services intended to support the long-term performance, reliability and efficiency of solar facilities.

In addition to solar photovoltaic installations, SOLV Energy works on battery energy-storage projects and related electrical infrastructure. Its services span project planning and design, equipment procurement, construction management, commissioning, and ongoing technical and field support for renewable-energy assets.

The company was formerly known as Swinerton Renewable Energy and adopted the SOLV Energy name in 2021.

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