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

CenterBook Partners LP boosted its holdings in SOLV Energy Inc. (NASDAQ:MWH) by 91.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360,533 shares of the company’s stock after purchasing an additional 171,743 shares during the quarter. CenterBook Partners LP’s holdings in SOLV Energy were worth $8,660,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in 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 period. WPG Advisers LLC purchased a new position in SOLV Energy during the 3rd quarter worth $32,000. Continuum Advisory LLC acquired a new position in SOLV Energy in the second quarter valued at $142,000. State of Alaska Department of Revenue acquired a new position in SOLV Energy in the third quarter valued at $154,000. Finally, Arizona State Retirement System purchased a new stake in shares of SOLV Energy in the second quarter valued at about $222,000.

SOLV Energy Stock Performance

NASDAQ:MWH traded up $1.82 during midday trading on Friday, reaching $25.64. The stock had a trading volume of 1,622,451 shares, compared to its average volume of 1,378,117. The firm has a fifty day simple moving average of $24.81 and a two-hundred day simple moving average of $30.24. SOLV Energy Inc. has a 12-month low of $20.30 and a 12-month high of $48.40. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.19 billion and a P/E ratio of 85.47.

SOLV Energy (NASDAQ:MWH) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $951.24 million for the quarter. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. On average, equities analysts expect that SOLV Energy Inc. will post 1.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MWH shares. JPMorgan Chase & Co. decreased their target price on shares of SOLV Energy from $43.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. KeyCorp dropped their price target on 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 restated an “outperform” rating and issued a $42.00 price target on shares of SOLV Energy in a research report on Friday, August 14th. Zacks Research downgraded SOLV Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Finally, Weiss Ratings cut SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.55.

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.