Mirae Asset Global Investments Co. Ltd. Purchases 22,500 Shares of SOLV Energy Inc. $MWH

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of SOLV Energy Inc. (NASDAQ:MWH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. 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 have also bought and sold shares of MWH. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of SOLV Energy during the third quarter valued at about $447,000. WPG Advisers LLC bought a new position in SOLV Energy in the 3rd quarter valued at approximately $32,000. Asset Management One Co. Ltd. raised its holdings in SOLV Energy by 31.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 199,122 shares of the company’s stock valued at $4,783,000 after buying an additional 47,706 shares during the last quarter. Ninety One UK Ltd boosted its position in SOLV Energy by 422.7% during the 3rd quarter. Ninety One UK Ltd now owns 1,532,243 shares of the company’s stock worth $36,804,000 after buying an additional 1,239,122 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in SOLV Energy during the 3rd quarter worth approximately $154,000.

Wall Street Analysts Forecast Growth

MWH has been the topic of a number of research reports. Weiss Ratings lowered shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $42.00 price target on shares of SOLV Energy in a research note on Friday, August 14th. KeyCorp cut 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, October 15th. Robert W. Baird reduced their price objective 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. decreased their price objective on 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.55.

SOLV Energy Stock Up 6.9%

Shares of MWH stock opened at $27.40 on Tuesday. The business’s 50 day simple moving average is $24.83 and its 200 day simple moving average is $30.22. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. SOLV Energy Inc. has a one year low of $20.30 and a one year high of $48.40.

SOLV Energy (NASDAQ:MWH) last released 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 for the quarter. SOLV Energy’s revenue for the quarter was up 77.4% on a year-over-year basis. As a group, equities analysts anticipate that SOLV Energy Inc. will post 1.22 earnings per share for the current fiscal year.

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.