SOLV Energy (NASDAQ:MWH) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

SOLV Energy (NASDAQ:MWH) had its target price lowered by JPMorgan Chase & Co. from $43.00 to $34.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on MWH. TD Cowen boosted their target price on shares of SOLV Energy from $32.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Robert W. Baird cut their price target on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 14th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $42.00 price target on shares of SOLV Energy in a research note on Friday, August 14th. Zacks Research lowered shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Weiss Ratings cut shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Ten equities research 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. According to data from MarketBeat, SOLV Energy has a consensus rating of “Moderate Buy” and an average target price of $38.55.

SOLV Energy Stock Performance

MWH opened at $23.25 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50-day moving average of $26.14 and a two-hundred day moving average of $31.02. SOLV Energy has a 12 month low of $22.53 and a 12 month high of $48.40.

SOLV Energy (NASDAQ:MWH) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.30 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 quarterly revenue was up 77.4% on a year-over-year basis. Sell-side analysts anticipate that SOLV Energy will post 1.22 EPS for the current fiscal year.

Institutional Trading of SOLV Energy

A number of institutional investors have recently modified their holdings of MWH. Ninety One UK Ltd increased its position in SOLV Energy by 422.7% during the 3rd quarter. Ninety One UK Ltd now owns 1,532,243 shares of the company’s stock worth $36,804,000 after purchasing an additional 1,239,122 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in SOLV Energy during the third quarter valued at approximately $154,000. Ninety One North America Inc. grew its stake in SOLV Energy by 317.4% during the third quarter. Ninety One North America Inc. now owns 283,807 shares of the company’s stock worth $6,817,000 after buying an additional 215,812 shares during the period. Sax Wealth Advisors LLC purchased a new stake in SOLV Energy during the third quarter worth approximately $354,000. Finally, GAMMA Investing LLC grew its stake in SOLV Energy by 4,255.2% during the third quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock worth $30,000 after buying an additional 1,234 shares during the period.

SOLV Energy Company Profile

SOLV Energy is a renewable energy company that provides engineering, procurement and construction (EPC) services for utility-scale solar power and battery energy storage projects. Its services span project design, construction management, commissioning and related infrastructure development.

The company also provides operations and maintenance, asset management and optimization services intended to support the long-term performance and reliability of renewable energy facilities. SOLV Energy serves utility, commercial and institutional customers, primarily across the United States.

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