Vanguard Group Inc. Has $126.60 Million Stock Holdings in NuScale Power Corporation $SMR

Key Points

• Vanguard Group Inc. increased its stake in NuScale Power Corporation by 6.1% during the first quarter, now holding 8,940,535 shares valued at approximately $126.60 million.
• NuScale Power recently reported a quarterly earnings loss of ($0.13) per share, missing analysts' expectations and generating revenue of $8.05 million, below the expected $10.49 million.
• Analysts have mixed views on NuScale Power, with a majority giving it a Hold rating and an average price target of $34.60.

Vanguard Group Inc. lifted its holdings in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,940,535 shares of the company's stock after acquiring an additional 512,618 shares during the period. Vanguard Group Inc. owned 3.17% of NuScale Power worth $126,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of NuScale Power by 33.0% during the 1st quarter. US Bancorp DE now owns 10,969 shares of the company's stock worth $155,000 after purchasing an additional 2,722 shares in the last quarter. Arkadios Wealth Advisors increased its stake in shares of NuScale Power by 5.2% during the 1st quarter. Arkadios Wealth Advisors now owns 25,749 shares of the company's stock valued at $365,000 after acquiring an additional 1,281 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in NuScale Power during the 1st quarter worth approximately $601,000. N.E.W. Advisory Services LLC acquired a new stake in NuScale Power during the 1st quarter worth approximately $141,000. Finally, LPL Financial LLC grew its position in NuScale Power by 35.8% in the first quarter. LPL Financial LLC now owns 273,394 shares of the company's stock valued at $3,871,000 after acquiring an additional 72,098 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total value of $808,164.34. Following the completion of the sale, the chief operating officer owned 90,864 shares in the company, valued at approximately $4,033,452.96. This represents a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SMR. BNP Paribas Exane initiated coverage on NuScale Power in a research note on Friday, July 25th. They set a "neutral" rating and a $41.00 target price for the company. BTIG Research lowered NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. 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 on the stock. Citigroup started coverage on NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target on the stock. Finally, Northland Capmk upgraded NuScale Power to a "hold" rating in a research report on Monday, July 7th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, NuScale Power has an average rating of "Hold" and an average price target of $34.60.

NuScale Power Trading Up 4.6%

Shares of SMR traded up $1.5540 during trading hours on Friday, hitting $35.0440. 11,195,486 shares of the stock traded hands, compared to its average volume of 12,830,846. NuScale Power Corporation has a 1-year low of $6.88 and a 1-year high of $53.50. The firm has a market capitalization of $9.98 billion, a PE ratio of -29.45 and a beta of 2.06. The business has a fifty day moving average of $40.88 and a 200-day moving average of $27.78.

NuScale Power (NYSE:SMR - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. As a group, equities research analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

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.