Bank of New York Mellon Corp Increases Stock Holdings in NuScale Power Co. (NYSE:SMR)

Bank of New York Mellon Corp boosted its stake in shares of NuScale Power Co. (NYSE:SMR) by 18.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 245,747 shares of the company’s stock after buying an additional 38,239 shares during the quarter. Bank of New York Mellon Corp’s holdings in NuScale Power were worth $4,406,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SMR. HighTower Advisors LLC grew its holdings in shares of NuScale Power by 7.3% in the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after purchasing an additional 820 shares during the last quarter. Venturi Wealth Management LLC boosted its position in NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after buying an additional 1,500 shares during the period. Toth Financial Advisory Corp grew its stake in NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after acquiring an additional 1,800 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of NuScale Power by 60.1% during the fourth quarter. Global Retirement Partners LLC now owns 4,932 shares of the company’s stock worth $88,000 after acquiring an additional 1,852 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of NuScale Power by 8.5% during the fourth quarter. New York State Common Retirement Fund now owns 24,172 shares of the company’s stock valued at $433,000 after acquiring an additional 1,900 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

Insider Transactions at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 31,496 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $15.70, for a total transaction of $494,487.20. Following the completion of the transaction, the chief financial officer now owns 29,985 shares in the company, valued at $470,764.50. This represents a 51.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the transaction, the vice president now directly owns 1,149 shares of the company’s stock, valued at $16,683.48. The trade was a 95.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,682 shares of company stock valued at $12,840,747 in the last 90 days. 1.96% of the stock is currently owned by company insiders.

NuScale Power Stock Down 5.5 %

SMR stock opened at $16.63 on Wednesday. The company has a market capitalization of $4.70 billion, a P/E ratio of -17.50 and a beta of 1.58. NuScale Power Co. has a 12 month low of $0.13 and a 12 month high of $32.30. The firm’s fifty day simple moving average is $20.77 and its 200-day simple moving average is $19.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their target price on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.50.

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.