JPMorgan Chase & Co. Has Lowered Expectations for SOLV Energy (NASDAQ:MWH) Stock Price

SOLV Energy (NASDAQ:MWH) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $43.00 to $34.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 42.56% from the stock’s current price.

Several other equities research analysts have also recently commented on MWH. 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 research report on Tuesday, August 25th. KeyCorp cut their target price on shares of SOLV Energy from $43.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday. Zacks Research cut shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Robert W. Baird decreased their price target on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 14th. Finally, Weiss Ratings lowered shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.55.

SOLV Energy Trading Down 0.5%

Shares of SOLV Energy stock traded down $0.11 during midday trading on Monday, reaching $23.85. 889,439 shares of the company’s stock traded hands, compared to its average volume of 1,533,987. The stock has a 50 day moving average of $26.52 and a 200-day moving average of $31.16. SOLV Energy has a 12 month low of $23.12 and a 12 month high of $48.40. The company has a market cap of $4.83 billion and a PE ratio of 79.50. 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 (NASDAQ:MWH) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $951.24 million during the quarter. The company’s revenue was up 77.4% on a year-over-year basis. As a group, equities analysts expect that SOLV Energy will post 1.22 EPS for the current fiscal year.

Hedge Funds Weigh In On SOLV Energy

A number of institutional investors have recently added to or reduced their stakes in MWH. Wellington Management Group LLP bought a new stake in shares of SOLV Energy during the 2nd quarter valued at $4,852,000. American Securities LLC purchased a new stake in shares of SOLV Energy in the 2nd quarter worth about $2,823,440,000. Squarepoint Ops LLC purchased a new stake in shares of SOLV Energy in the 2nd quarter worth about $4,037,000. Bank of New York Mellon Corp increased its stake in shares of SOLV Energy by 697.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company’s stock worth $3,359,000 after acquiring an additional 86,290 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of SOLV Energy in the 2nd quarter worth about $1,675,000.

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.