SOLV Energy Inc. $MWH Stock: Ninety One UK Ltd Boosts Position

Ninety One UK Ltd grew its position in SOLV Energy Inc. (NASDAQ:MWH) by 422.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,532,243 shares of the company’s stock after purchasing an additional 1,239,122 shares during the period. Ninety One UK Ltd’s holdings in SOLV Energy were worth $36,804,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of SOLV Energy during the third quarter worth about $154,000. Ninety One North America Inc. boosted its position in SOLV Energy by 317.4% in the third quarter. Ninety One North America Inc. now owns 283,807 shares of the company’s stock valued at $6,817,000 after buying an additional 215,812 shares during the last quarter. Sax Wealth Advisors LLC purchased a new stake in SOLV Energy in the third quarter valued at approximately $354,000. GAMMA Investing LLC increased its holdings in SOLV Energy by 4,255.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock worth $30,000 after buying an additional 1,234 shares during the period. Finally, Green Alpha Advisors LLC acquired a new position in SOLV Energy in the 3rd quarter worth approximately $1,092,000.

SOLV Energy Trading Down 1.5%

Shares of MWH stock opened at $23.94 on Friday. SOLV Energy Inc. has a 52-week low of $23.12 and a 52-week high of $48.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50-day simple moving average of $26.62 and a 200-day simple moving average of $31.19.

SOLV Energy (NASDAQ:MWH) last posted its earnings results 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 for the quarter. The company’s revenue for the quarter was up 77.4% compared to the same quarter last year. Research analysts predict that SOLV Energy Inc. will post 1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

MWH has been the subject of a number of recent research reports. Weiss Ratings lowered shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. 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 report on Thursday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $42.00 price objective on shares of SOLV Energy in a research note on Friday, August 14th. TD Cowen raised their target price on shares of SOLV Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Finally, Robert W. Baird decreased 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 report on Friday, August 14th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.55.

SOLV Energy Profile

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.