SOLV Energy Inc. $MWH Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in SOLV Energy Inc. (NASDAQ:MWH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,500 shares of the company’s stock, valued at approximately $540,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Securities LLC bought a new stake in shares of SOLV Energy during the 2nd quarter valued at about $2,823,440,000. Ninety One UK Ltd increased its holdings in SOLV Energy by 422.7% in the third quarter. Ninety One UK Ltd now owns 1,532,243 shares of the company’s stock worth $36,804,000 after purchasing an additional 1,239,122 shares in the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in SOLV Energy in the second quarter valued at approximately $18,320,262. Ninety One North America Inc. lifted its stake 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 period. Finally, Wellington Management Group LLP bought a new position in shares of SOLV Energy during the 2nd quarter worth approximately $4,852,000.

SOLV Energy Price Performance

Shares of SOLV Energy stock opened at $27.40 on Tuesday. The business has a 50-day simple moving average of $24.83 and a 200 day simple moving average of $30.22. SOLV Energy Inc. has a one year low of $20.30 and a one year 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.

SOLV Energy (NASDAQ:MWH) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $951.24 million during the quarter. The business’s revenue for the quarter was up 77.4% on a year-over-year basis. As a group, analysts anticipate that SOLV Energy Inc. will post 1.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp reduced their price objective on shares of SOLV Energy from $43.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, October 15th. Weiss Ratings downgraded shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $42.00 target price on shares of SOLV Energy in a research note on Friday, August 14th. Robert W. Baird cut their target price 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of SOLV Energy from $43.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SOLV Energy currently has an average rating of “Moderate Buy” and an average price target of $38.55.

SOLV Energy Company Profile

SOLV Energy is a U.S. renewable energy contractor that develops, builds and maintains utility-scale solar power and battery storage projects. Its services include engineering, procurement and construction, as well as operations and maintenance for energy facilities.

The company serves customers across the United States, supporting projects from construction through ongoing operation. Its business also includes work on related electrical infrastructure.

SOLV Energy traces its roots to Swinerton Renewable Energy, which became an independent company under the SOLV Energy name in 2021.