SOLV Energy Inc. (NASDAQ:MWH) Receives $39.91 Average PT from Analysts

Shares of SOLV Energy Inc. (NASDAQ:MWH) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $39.9091.

Several brokerages recently commented on MWH. UBS Group reiterated a “neutral” rating and issued a $50.00 price objective (up from $42.00) on shares of SOLV Energy in a research note on Thursday, May 14th. TD Cowen upped their target price on shares of SOLV Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Zacks Research raised shares of SOLV Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. KeyCorp lifted their price target on shares of SOLV Energy from $36.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Finally, Robert W. Baird decreased their price target on SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 14th.

Institutional Trading of SOLV Energy

A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in SOLV Energy by 697.6% in 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 during the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in shares of SOLV Energy during the 2nd quarter worth $18,320,262. Public Employees Retirement System of Ohio acquired a new position in shares of SOLV Energy during the 2nd quarter worth $375,000. Wellington Management Group LLP purchased a new stake in shares of SOLV Energy in the 2nd quarter worth about $4,852,000. Finally, Continuum Advisory LLC purchased a new stake in shares of SOLV Energy in the 2nd quarter worth about $142,000.

SOLV Energy Stock Performance

NASDAQ:MWH opened at $25.27 on Monday. SOLV Energy has a 1 year low of $23.83 and a 1 year high of $48.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The business has a fifty day simple moving average of $28.73. The stock has a market capitalization of $5.11 billion and a PE ratio of 84.23.

SOLV Energy (NASDAQ:MWH) last issued its earnings results on Thursday, August 13th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $951.24 million for the quarter. The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. On average, analysts predict that SOLV Energy will post 1.28 EPS for the current year.

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.