Franklin Resources Inc. Purchases Shares of 47,967 NuScale Power Co. (NYSE:SMR)

Franklin Resources Inc. purchased a new position in NuScale Power Co. (NYSE:SMR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 47,967 shares of the company’s stock, valued at approximately $555,000.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after acquiring an additional 317,285 shares in the last quarter. State Street Corp increased its stake in NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after acquiring an additional 154,368 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of NuScale Power by 90.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after acquiring an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after acquiring an additional 460,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of NuScale Power by 57.2% in the third 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 purchasing an additional 128,012 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. CLSA assumed coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. Craig Hallum lifted their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, NuScale Power currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Down 6.7 %

NYSE:SMR opened at $18.21 on Tuesday. The stock has a fifty day simple moving average of $22.77 and a 200-day simple moving average of $14.97. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -19.17 and a beta of 1.33. NuScale Power Co. has a twelve month low of $1.88 and a twelve month high of $32.30.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This trade represents a 89.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the transaction, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,610 shares of company stock valued at $3,528,780 in the last three months. Company insiders own 1.96% of the company’s stock.

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.