SOLV Energy (NASDAQ:MWH) Given New $42.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird lowered SOLV Energy’s price target from $50 to $42 while maintaining an “outperform” rating, implying about 28% upside from the prior close.
• Analyst sentiment remains broadly positive, with an overall “Moderate Buy” consensus and an average price target of $39.27, despite ratings ranging from strong buy to sell.
• 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; its shares opened at $32.73 after rising 8.8%.

SOLV Energy (NASDAQ:MWH - Get Free Report) had its target price decreased by investment analysts at Robert W. Baird from $50.00 to $42.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price suggests a potential upside of 28.32% from the stock's previous close.

Several other analysts have also weighed in on MWH. Canadian Imperial Bank of Commerce upped their price objective on SOLV Energy from $37.00 to $38.00 and gave the company an "outperformer" rating in a report on Monday, April 20th. KeyCorp upped their price target on shares of SOLV Energy from $36.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. UBS Group restated a "neutral" rating and set a $50.00 price objective (up from $42.00) on shares of SOLV Energy in a research report on Thursday, May 14th. Weiss Ratings initiated coverage on shares of SOLV Energy in a report on Wednesday, June 3rd. They issued a "sell (d)" rating on the stock. Finally, Zacks Research raised shares of SOLV Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, SOLV Energy has an average rating of "Moderate Buy" and an average price target of $39.27.

SOLV Energy Trading Up 8.8%

Shares of MWH opened at $32.73 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50-day moving average of $30.57. SOLV Energy has a 52-week low of $23.83 and a 52-week high of $48.40.

SOLV Energy (NASDAQ:MWH - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $951.24 million during the quarter. The firm's revenue was up 77.4% compared to the same quarter last year. As a group, sell-side analysts predict that SOLV Energy will post 1.49 EPS for the current year.

Institutional Trading of SOLV Energy

An institutional investor recently raised its stake in SOLV Energy stock. Bank of New York Mellon Corp grew its position in SOLV Energy Inc. (NASDAQ:MWH - Free Report) by 697.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,660 shares of the company's stock after buying an additional 86,290 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.08% of SOLV Energy worth $3,359,000 at the end of the most recent quarter.

SOLV Energy Company Profile

SOLV Energy NASDAQ: MWH is a renewable energy company that develops, constructs and operates solar and energy storage projects. The firm provides solutions aimed at reducing customers’ reliance on traditional grid power by pairing photovoltaic systems with battery storage where appropriate. SOLV’s activities are centered on delivering commercial-scale and distributed generation projects for business, institutional and public sector clients.

The company’s services encompass multiple phases of project delivery, including site assessment, system design, procurement, engineering and construction, and ongoing operations and maintenance.

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