SOLV Energy Inc. (NASDAQ:MWH) Stock Has Consensus Target Price of $38.55

Shares of SOLV Energy Inc. (NASDAQ:MWH) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $38.55.

Several equities analysts have recently weighed in on the stock. Robert W. Baird decreased 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. Zacks Research cut shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. TD Cowen raised their price target on SOLV Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. dropped their price objective on shares of SOLV Energy from $43.00 to $34.00 and set an “overweight” rating for the company in a report on Monday. Finally, Weiss Ratings lowered shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th.

Hedge Funds Weigh In On SOLV Energy

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of SOLV Energy by 4,255.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock worth $30,000 after purchasing an additional 1,234 shares during the last quarter. Continuum Advisory LLC bought a new stake in shares of SOLV Energy in the 2nd quarter worth about $142,000. State of Alaska Department of Revenue acquired a new position in shares of SOLV Energy in the 3rd quarter worth approximately $154,000. Arizona State Retirement System acquired a new stake in shares of SOLV Energy during the second quarter worth $222,000. Finally, Public Employees Retirement System of Ohio acquired a new position in SOLV Energy in the second quarter valued at approximately $375,000.

SOLV Energy Price Performance

Shares of NASDAQ MWH opened at $23.85 on Tuesday. The firm has a market cap of $4.83 billion and a PE ratio of 79.50. The firm has a fifty day moving average of $26.42 and a 200 day moving average of $31.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. SOLV Energy has a one year low of $23.12 and a one year high of $48.40.

SOLV Energy (NASDAQ:MWH) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate 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. As a group, research analysts predict that SOLV Energy will post 1.22 EPS for the current fiscal year.

About SOLV Energy

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.