Truist Financial Corp Has $1.89 Million Stock Position in NuScale Power Corporation $SMR

Key Points

• Truist Financial Corp increased its stake in NuScale Power Corporation by 23.3%, acquiring 47,645 shares valued at approximately $1.89 million.
• The stock has seen significant activity from institutional investors, with 78.37% of shares now owned by such entities, highlighting strong interest in the company.
• NuScale Power recently reported a quarterly loss of ($0.13) EPS, which was below the consensus estimate, and its revenue was also lower than expected at $8.05 million.

Truist Financial Corp boosted its position in NuScale Power Corporation (NYSE:SMR - Free Report) by 23.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,645 shares of the company's stock after purchasing an additional 9,016 shares during the period. Truist Financial Corp's holdings in NuScale Power were worth $1,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SMR. Wealth Enhancement Advisory Services LLC acquired a new position in NuScale Power in the 4th quarter worth about $207,000. GAMMA Investing LLC increased its holdings in NuScale Power by 5,590.4% in the 1st quarter. GAMMA Investing LLC now owns 15,364 shares of the company's stock worth $218,000 after purchasing an additional 15,094 shares in the last quarter. Rhumbline Advisers increased its holdings in NuScale Power by 12.8% in the 1st quarter. Rhumbline Advisers now owns 125,708 shares of the company's stock worth $1,780,000 after purchasing an additional 14,304 shares in the last quarter. NBC Securities Inc. increased its holdings in NuScale Power by 165,450.0% in the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after purchasing an additional 3,309 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in NuScale Power by 122.1% in the 1st quarter. Park Avenue Securities LLC now owns 36,451 shares of the company's stock worth $516,000 after purchasing an additional 20,039 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup assumed coverage on NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 target price for the company. Northland Securities started coverage on NuScale Power in a research note on Monday, July 7th. They issued a "market perform" rating and a $35.00 price target for the company. Royal Bank Of Canada started coverage on NuScale Power in a research note on Monday, September 15th. They issued a "sector perform" rating and a $35.00 price target for the company. BNP Paribas raised NuScale Power to a "hold" rating in a research note on Friday, July 25th. Finally, BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, NuScale Power currently has an average rating of "Hold" and a consensus price target of $36.67.

NuScale Power Price Performance

Shares of NuScale Power stock opened at $39.29 on Friday. NuScale Power Corporation has a one year low of $11.08 and a one year high of $53.50. The stock's 50-day moving average is $37.96 and its 200 day moving average is $32.21. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of -33.02 and a beta of 2.02.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. On average, sell-side analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the transaction, the director owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 15,048,847 shares of company stock valued at $606,761,579 in the last 90 days. 1.27% of the stock is currently owned by corporate insiders.

NuScale Power 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.

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