Teacher Retirement System of Texas Acquires 7,852 Shares of NuScale Power Corporation (NYSE:SMR)

Teacher Retirement System of Texas raised its holdings in NuScale Power Corporation (NYSE:SMR) by 20.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,454 shares of the company’s stock after buying an additional 7,852 shares during the quarter. Teacher Retirement System of Texas’ holdings in NuScale Power were worth $644,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in NuScale Power by 18.4% during the 4th quarter. Bank of New York Mellon Corp now owns 245,747 shares of the company’s stock valued at $4,406,000 after acquiring an additional 38,239 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of NuScale Power during the fourth quarter valued at approximately $97,000. Charles Schwab Investment Management Inc. boosted its position in shares of NuScale Power by 8.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 735,383 shares of the company’s stock valued at $13,185,000 after purchasing an additional 58,135 shares in the last quarter. Victory Capital Management Inc. lifted its position in NuScale Power by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock valued at $191,000 after buying an additional 656 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of NuScale Power during the 4th quarter valued at $2,755,000. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Trading Up 1.9%

Shares of SMR opened at $42.90 on Wednesday. The company has a market cap of $12.20 billion, a price-to-earnings ratio of -31.31 and a beta of 2.04. The business’s fifty day simple moving average is $32.97 and its two-hundred day simple moving average is $23.69. NuScale Power Corporation has a 12 month low of $6.88 and a 12 month high of $45.31.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. The firm had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. As a group, research analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

SMR has been the topic of a number of recent research reports. Northland Capmk raised shares of NuScale Power to a “hold” rating in a research report on Monday, July 7th. UBS Group upped their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. CLSA set a $41.00 price target on NuScale Power and gave the stock an “outperform” rating in a research note on Tuesday, May 27th. BTIG Research cut NuScale Power from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 25th. Finally, Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the stock a “buy” rating in a report on Thursday, May 29th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.00.

Insider Activity

In other NuScale Power news, VP Jacqueline F. Engel sold 1,565 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the completion of the sale, the vice president directly owned 1,218 shares in the company, valued at approximately $20,632.92. The trade was a 56.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clayton Scott sold 10,019 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.78, for a total value of $168,118.82. Following the transaction, the insider directly owned 86,965 shares in the company, valued at $1,459,272.70. The trade was a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 95,278 shares of company stock valued at $1,786,990 in the last 90 days. 1.96% of the stock is currently owned by insiders.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.