Tidal Investments LLC Invests $1.68 Million in SOLV Energy Inc. $MWH

Key Points

• Tidal Investments acquired 49,206 shares of SOLV Energy, valued at approximately $1.68 million, as several other institutional investors also initiated positions during the second quarter.
• SOLV Energy reported quarterly EPS of $0.30, exceeding estimates of $0.26, while revenue rose 77.4% year over year to $951.24 million.
• The stock opened at $25.72, well below its 12-month high of $48.40. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $39.91, despite some recent target reductions and a downgrade to “Hold.”

Tidal Investments LLC bought a new stake in shares of SOLV Energy Inc. (NASDAQ:MWH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 49,206 shares of the company's stock, valued at approximately $1,675,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Maven Securities LTD purchased a new stake in shares of SOLV Energy in the 2nd quarter valued at approximately $535,000. Squarepoint Ops LLC purchased a new position in SOLV Energy during the 2nd quarter worth approximately $4,037,000. Arizona State Retirement System purchased a new position in SOLV Energy during the 2nd quarter worth approximately $222,000. American Securities LLC acquired a new stake in SOLV Energy during the 2nd quarter valued at $2,823,440,000. Finally, Readystate Asset Management LP acquired a new stake in SOLV Energy during the 2nd quarter valued at $1,022,000.

SOLV Energy Stock Down 1.0%

MWH stock opened at $25.72 on Friday. The company has a 50 day moving average of $27.73 and a two-hundred day moving average of $31.69. The company has a market cap of $5.21 billion and a price-to-earnings ratio of 85.73. SOLV Energy Inc. has a 12-month low of $23.83 and a 12-month 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.

SOLV Energy (NASDAQ:MWH - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $951.24 million for the quarter. The business's revenue was up 77.4% compared to the same quarter last year. On average, equities analysts anticipate that SOLV Energy Inc. will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented 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 research report on Friday, August 14th. Weiss Ratings raised SOLV Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. TD Cowen increased their price objective on SOLV Energy from $32.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Robert W. Baird decreased their price objective on SOLV Energy from $50.00 to $42.00 and set an "outperform" rating for the company in a research report on Friday, August 14th. Finally, Zacks Research downgraded SOLV Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.91.

SOLV Energy Company Profile

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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