SOLV Energy Inc. (NASDAQ:MWH) Stock Has Consensus Price Target of $39.91 According to Brokerages

Shares of SOLV Energy Inc. (NASDAQ:MWH) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $39.91.

Several brokerages have issued reports on MWH. Robert W. Baird dropped their target price on SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 14th. Zacks Research lowered shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. TD Cowen upped 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. Weiss Ratings downgraded shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $42.00 price target on shares of SOLV Energy in a report on Friday, August 14th.

SOLV Energy Trading Up 2.5%

NASDAQ:MWH opened at $24.63 on Friday. The firm has a market capitalization of $4.98 billion and a P/E ratio of 82.10. The company has a fifty day moving average of $27.02 and a 200 day moving average of $31.43. 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 has a 52 week low of $23.36 and a 52 week high of $48.40.

SOLV Energy (NASDAQ:MWH) last issued its quarterly earnings data 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 during the quarter. SOLV Energy’s revenue for the quarter was up 77.4% compared to the same quarter last year. On average, research analysts predict that SOLV Energy will post 1.28 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Securities LLC purchased a new stake in SOLV Energy during the second quarter valued at approximately $2,823,440,000. Neumeier Poma Investment Counsel LLC purchased a new stake in SOLV Energy during the 2nd quarter valued at $18,320,262. Wellington Management Group LLP bought a new stake in SOLV Energy in the second quarter worth $4,852,000. Squarepoint Ops LLC bought a new stake in SOLV Energy in the second quarter worth $4,037,000. Finally, Bank of New York Mellon Corp boosted its stake 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 worth $3,359,000 after buying an additional 86,290 shares during the period.

About SOLV Energy

SOLV Energy is a renewable-energy services company focused on the development, construction, operation and maintenance of utility-scale solar power and energy-storage projects. The company provides engineering, procurement and construction services, helping project owners design and build large photovoltaic generation facilities and battery-storage systems.

In addition to project construction, SOLV Energy offers operations and maintenance, asset management, monitoring and technical services intended to support the long-term performance and reliability of renewable-energy assets.