Wellington Management Group LLP Makes New $4.85 Million Investment in SOLV Energy Inc. $MWH

Wellington Management Group LLP acquired a new position in SOLV Energy Inc. (NASDAQ:MWH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 142,503 shares of the company’s stock, valued at approximately $4,852,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in shares of SOLV Energy during the 2nd quarter valued at about $375,000. Bank of New York Mellon Corp increased its holdings in 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 purchasing an additional 86,290 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC bought a new stake in SOLV Energy in the second quarter worth approximately $18,320,262.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MWH. Weiss Ratings upgraded SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 14th. TD Cowen lifted their price objective on shares of SOLV Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Robert W. Baird dropped their target price on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 14th. KeyCorp increased their target price on shares of SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Guggenheim raised their price target on shares of SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, SOLV Energy has an average rating of “Moderate Buy” and an average target price of $39.91.

SOLV Energy Stock Down 2.2%

Shares of NASDAQ:MWH opened at $25.09 on Thursday. 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 52-week low of $23.83 and a 52-week high of $48.40. The business’s 50 day simple moving average is $28.24 and its two-hundred day simple moving average is $31.93. The firm has a market cap of $5.08 billion and a P/E ratio of 83.63.

SOLV Energy (NASDAQ:MWH) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $951.24 million for the quarter. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. As a group, research analysts forecast that SOLV Energy Inc. will post 1.28 EPS for the current fiscal year.

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.