Geode Capital Management LLC Has $21.19 Million Stake in NuScale Power Co. (NYSE:SMR)

Geode Capital Management LLC raised its position in shares of NuScale Power Co. (NYSE:SMR) by 21.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,829,843 shares of the company’s stock after purchasing an additional 317,285 shares during the quarter. Geode Capital Management LLC owned 0.73% of NuScale Power worth $21,194,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SMR. State Street Corp lifted its position in shares of NuScale Power by 10.2% in the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after purchasing an additional 154,368 shares in the last quarter. Van ECK Associates Corp lifted its position in NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after buying an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NuScale Power by 57.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock valued at $4,074,000 after buying an additional 128,012 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after acquiring an additional 137,382 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SMR. Craig Hallum increased their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

Insider Activity

In related news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 89.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,610 shares of company stock valued at $3,528,780. Insiders own 1.96% of the company’s stock.

NuScale Power Price Performance

NYSE SMR opened at $19.51 on Friday. NuScale Power Co. has a fifty-two week low of $1.88 and a fifty-two week high of $32.30. The stock’s 50-day moving average is $22.77 and its two-hundred day moving average is $14.93. The firm has a market cap of $4.98 billion, a P/E ratio of -20.54 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

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.