Robert W. Baird Cuts SOLV Energy (NASDAQ:MWH) Price Target to $42.00

SOLV Energy (NASDAQ:MWH) had its price target reduced by analysts at Robert W. Baird from $50.00 to $42.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 28.32% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Guggenheim increased their price objective on SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings initiated coverage on shares of SOLV Energy in a research report on Wednesday, June 3rd. They issued a “sell (d)” rating for the company. UBS Group restated a “neutral” rating and set a $50.00 price target (up from $42.00) on shares of SOLV Energy in a research note on Thursday, May 14th. Zacks Research upgraded shares of SOLV Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Canadian Imperial Bank of Commerce upped their target price on SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.27.

SOLV Energy Trading Up 8.8%

MWH stock opened at $32.73 on Friday. The business has a 50 day moving average of $30.57. SOLV Energy has a 12-month low of $23.83 and a 12-month high of $48.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.06 and a quick ratio of 1.06.

SOLV Energy (NASDAQ:MWH) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $951.24 million during the quarter. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. Equities research analysts expect that SOLV Energy will post 1.49 EPS for the current fiscal year.

Institutional Trading of SOLV Energy

A hedge fund recently raised its position in SOLV Energy stock. Bank of New York Mellon Corp grew its holdings in SOLV Energy Inc. (NASDAQ:MWH) by 697.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,660 shares of the company’s stock after buying an additional 86,290 shares during the quarter. Bank of New York Mellon Corp owned 0.08% of SOLV Energy worth $3,359,000 as of its most recent filing with the SEC.

SOLV Energy Company 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.