SOLV Energy (NASDAQ:MWH) Stock Price Down 5.8% - Time to Sell?

Key Points

• SOLV Energy shares fell 5.8% to $27.25 in Friday trading, with volume down 89% from the average. The stock’s market capitalization is approximately $3.44 billion, and its P/E ratio is 92.4.
• Despite the decline, analysts maintain a broadly positive outlook: SOLV Energy has a “Moderate Buy” consensus rating and an average price target of $39.64, implying substantial upside from the latest price.
• The company exceeded quarterly earnings expectations, reporting EPS of $0.30 versus the $0.26 consensus, while revenue rose 77.4% year over year to $951.24 million. Institutional investors also added to or initiated positions during the second quarter.

SOLV Energy Inc. (NASDAQ:MWH - Get Free Report) shares traded down 5.8% on Friday . The company traded as low as $27.25 and last traded at $27.25. Approximately 180,270 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,569,720 shares. The stock had previously closed at $28.92.

Analysts Set New Price Targets

MWH has been the subject of a number of research reports. Weiss Ratings raised shares of SOLV Energy from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 14th. UBS Group reissued a "neutral" rating and set a $50.00 price objective (up from $42.00) on shares of SOLV Energy in a report on Thursday, May 14th. Robert W. Baird reduced their target price on shares of SOLV Energy from $50.00 to $42.00 and set an "outperform" rating on the stock in a report on Friday, August 14th. Guggenheim lifted their price target on SOLV Energy from $37.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $42.00 price objective on shares of SOLV Energy in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SOLV Energy currently has an average rating of "Moderate Buy" and an average target price of $39.64.

SOLV Energy Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.06. The stock's 50-day moving average price is $30.41. The firm has a market capitalization of $3.44 billion and a P/E ratio of 92.40.

SOLV Energy (NASDAQ:MWH - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. The company had revenue of $951.24 million for the quarter. SOLV Energy's revenue was up 77.4% on a year-over-year basis. Analysts expect that SOLV Energy Inc. will post 1.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in SOLV Energy in the 2nd quarter worth about $375,000. Bank of New York Mellon Corp lifted its position in SOLV Energy by 697.6% during the second quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company's stock valued at $3,359,000 after purchasing an additional 86,290 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of SOLV Energy during the 2nd quarter valued at about $4,852,000. Finally, Neumeier Poma Investment Counsel LLC bought a new position in shares of SOLV Energy in the second quarter worth approximately $18,320,262,000.

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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