Neumeier Poma Investment Counsel LLC Buys Shares of 538,040 SOLV Energy Inc. $MWH

Neumeier Poma Investment Counsel LLC purchased a new position in shares of SOLV Energy Inc. (NASDAQ:MWH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 538,040 shares of the company’s stock, valued at approximately $18,320,262. Neumeier Poma Investment Counsel LLC owned about 0.43% of SOLV Energy at the end of the most recent reporting period.

Separately, Bank of New York Mellon Corp boosted its position in shares of SOLV Energy by 697.6% during 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 during the period.

SOLV Energy Price Performance

Shares of NASDAQ:MWH traded down $1.63 during midday trading on Friday, reaching $26.51. The company had a trading volume of 447,707 shares, compared to its average volume of 1,566,996. SOLV Energy Inc. has a one year low of $23.83 and a one year high of $48.40. The stock has a market cap of $5.37 billion and a PE ratio of 88.37. The company’s fifty day simple moving average is $29.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09.

SOLV Energy (NASDAQ:MWH) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $951.24 million during the quarter. The company’s quarterly revenue was up 77.4% compared to the same quarter last year. As a group, sell-side analysts forecast that SOLV Energy Inc. will post 1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MWH. TD Cowen boosted their price target on shares of SOLV Energy from $32.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday. 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. Robert W. Baird cut their target price on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 14th. Zacks Research raised SOLV Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Finally, Guggenheim increased their price target on SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.91.

SOLV Energy 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.