SOLV Energy Inc. $MWH Stock: CenterBook Partners LP Raises Position

CenterBook Partners LP raised its stake in SOLV Energy Inc. (NASDAQ:MWH) by 91.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,533 shares of the company’s stock after purchasing an additional 171,743 shares during the period. CenterBook Partners LP owned about 0.18% of SOLV Energy worth $8,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of 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 in the last quarter. WPG Advisers LLC acquired a new stake in SOLV Energy in the third quarter valued at approximately $32,000. Continuum Advisory LLC acquired a new stake in SOLV Energy in the second quarter valued at approximately $142,000. State of Alaska Department of Revenue purchased a new position in SOLV Energy in the third quarter worth approximately $154,000. Finally, Arizona State Retirement System purchased a new position in SOLV Energy in the second quarter worth approximately $222,000.

SOLV Energy Stock Up 7.6%

MWH stock traded up $1.82 during trading on Friday, hitting $25.64. 1,622,451 shares of the company’s stock were exchanged, compared to its average volume of 1,378,117. The business has a 50-day moving average price of $24.81 and a two-hundred day moving average price of $30.24. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $5.19 billion and a price-to-earnings ratio of 85.47. SOLV Energy Inc. has a 52-week low of $20.30 and a 52-week high of $48.40.

SOLV Energy (NASDAQ:MWH) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.30 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 business’s revenue for the quarter was up 77.4% compared to the same quarter last year. As a group, equities research analysts expect that SOLV Energy Inc. will post 1.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MWH. KeyCorp dropped their price objective on shares of SOLV Energy from $43.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $42.00 price objective on shares of SOLV Energy in a research report on Friday, August 14th. Robert W. Baird lowered their target price on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 14th. Weiss Ratings downgraded shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Finally, Zacks Research lowered SOLV Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.55.

SOLV Energy 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.