SOLV Energy Inc. $MWH Stock: Ninety One North America Inc. Boosts Position

Ninety One North America Inc. grew its stake in shares of SOLV Energy Inc. (NASDAQ:MWH) by 317.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 283,807 shares of the company’s stock after acquiring an additional 215,812 shares during the period. Ninety One North America Inc.’s holdings in SOLV Energy were worth $6,817,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in shares of SOLV Energy in the second quarter valued at $4,852,000. American Securities LLC purchased a new stake in SOLV Energy in the 2nd quarter worth approximately $2,823,440,000. Bank of New York Mellon Corp raised its position in shares of SOLV Energy by 697.6% in the second quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company’s stock worth $3,359,000 after buying an additional 86,290 shares in the last quarter. Squarepoint Ops LLC bought a new stake in SOLV Energy during the second quarter valued at approximately $4,037,000. Finally, Tidal Investments LLC purchased a new position in SOLV Energy in the 2nd quarter worth approximately $1,675,000.

Analysts Set New Price Targets

MWH has been the topic of a number of research analyst reports. KeyCorp decreased their price target 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 reissued an “outperform” rating and set a $42.00 price objective on shares of SOLV Energy in a report on Friday, August 14th. TD Cowen boosted their target price on SOLV Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Weiss Ratings downgraded SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Finally, Zacks Research lowered SOLV Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SOLV Energy has a consensus rating of “Moderate Buy” and an average target price of $38.55.

SOLV Energy Trading Down 0.6%

Shares of MWH stock traded down $0.14 on Thursday, hitting $24.16. 463,921 shares of the company’s stock traded hands, compared to its average volume of 1,521,244. 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 Inc. has a one year low of $23.12 and a one year high of $48.40. The company’s fifty day simple moving average is $26.69 and its 200 day simple moving average is $31.22. The stock has a market capitalization of $4.89 billion and a price-to-earnings ratio of 80.63.

SOLV Energy (NASDAQ:MWH) last issued its earnings results on Thursday, August 13th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $951.24 million during the quarter. The business’s revenue was up 77.4% on a year-over-year basis. Equities analysts forecast that SOLV Energy Inc. will post 1.28 EPS for the current year.

SOLV Energy Company 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.