30,000 Shares in SOLV Energy Inc. $MWH Acquired by Readystate Asset Management LP

Readystate Asset Management LP bought a new stake in SOLV Energy Inc. (NASDAQ:MWH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $1,022,000.

Several other hedge funds have also recently added to or reduced their stakes in MWH. Continuum Advisory LLC acquired a new position in shares of SOLV Energy in the 2nd quarter worth approximately $142,000. Public Employees Retirement System of Ohio acquired a new stake in shares of SOLV Energy during the second quarter worth $375,000. Bank of New York Mellon Corp raised 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 last quarter. Wellington Management Group LLP bought a new position in SOLV Energy during the second quarter worth $4,852,000. Finally, Neumeier Poma Investment Counsel LLC acquired a new position in SOLV Energy in the second quarter valued at $18,320,262.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Zacks Research raised shares of SOLV Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Guggenheim boosted their price objective on SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings upgraded SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. KeyCorp raised their target price on SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, UBS Group reiterated a “neutral” rating and issued a $50.00 target price (up from $42.00) on shares of SOLV Energy in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.91.

SOLV Energy Stock Performance

Shares of NASDAQ MWH opened at $25.27 on Tuesday. The firm has a market capitalization of $5.11 billion and a price-to-earnings ratio of 84.23. The firm’s 50-day moving average is $28.53. 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 Inc. has a 1-year low of $23.83 and a 1-year high of $48.40.

SOLV Energy (NASDAQ:MWH) last issued its 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 firm had revenue of $951.24 million during the quarter. SOLV Energy’s quarterly revenue was up 77.4% compared to the same quarter last year. Equities research analysts forecast that SOLV Energy Inc. will post 1.28 EPS for the current year.

SOLV Energy 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.