Teacher Retirement System of Texas Grows Position in NuScale Power Corporation (NYSE:SMR)

Teacher Retirement System of Texas grew its holdings in shares of NuScale Power Corporation (NYSE:SMR) by 20.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,454 shares of the company’s stock after purchasing 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 reporting period.

Several other large investors have also recently modified their holdings of the business. CoreCap Advisors LLC purchased a new position in NuScale Power in the 4th quarter valued at approximately $33,000. Twin Tree Management LP purchased a new position in shares of NuScale Power in the fourth quarter valued at $42,000. NBC Securities Inc. raised its stake in shares of NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock valued at $46,000 after purchasing an additional 3,309 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of NuScale Power by 2,980.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company’s stock valued at $66,000 after purchasing an additional 3,576 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new stake in NuScale Power during the 4th quarter worth about $97,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SMR has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the company a “neutral” rating in a report on Tuesday, May 20th. Citigroup assumed coverage on shares of NuScale Power in a report on Monday, June 23rd. They set a “neutral” rating and a $46.00 target price on the stock. Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a “buy” rating in a research note on Thursday, May 29th. Northland Capmk upgraded shares of NuScale Power to a “hold” rating in a research report on Monday, July 7th. Finally, CLSA set a $41.00 price target on shares of NuScale Power and gave the stock an “outperform” rating in a report on Tuesday, May 27th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.00.

NuScale Power Stock Performance

NYSE SMR opened at $42.90 on Wednesday. NuScale Power Corporation has a 52-week low of $6.88 and a 52-week high of $45.31. The company has a fifty day moving average of $32.97 and a 200-day moving average of $23.69. The company has a market capitalization of $12.20 billion, a P/E ratio of -31.31 and a beta of 2.04.

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

Insider Activity

In other news, CEO John Lawrence Hopkins sold 34,675 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $17.00, for a total value of $589,475.00. Following the transaction, the chief executive officer owned 49,019 shares in the company, valued at approximately $833,323. This trade represents a 41.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.94, for a total transaction of $26,511.10. Following the completion of the transaction, the vice president owned 1,218 shares in the company, valued at $20,632.92. This represents a 56.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,278 shares of company stock valued at $1,786,990. 1.96% of the stock is currently owned by insiders.

About NuScale Power

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.