The Manufacturers Life Insurance Company Cuts Position in NuScale Power Co. (NYSE:SMR)

The Manufacturers Life Insurance Company decreased its position in NuScale Power Co. (NYSE:SMR) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,863 shares of the company’s stock after selling 686 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NuScale Power were worth $334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE purchased a new stake in NuScale Power in the third quarter valued at approximately $54,000. CWM LLC increased its position in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after acquiring an additional 5,191 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of NuScale Power during the second quarter worth $64,000. TFC Financial Management Inc. purchased a new stake in shares of NuScale Power during the second quarter worth $75,000. Finally, Quest Partners LLC purchased a new stake in shares of NuScale Power during the second quarter worth $115,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert K. Temple sold 144,627 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the sale, the insider now owns 14,054 shares of the company’s stock, valued at $153,188.60. This trade represents a 91.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 422,237 shares of company stock worth $6,005,215 over the last 90 days. Corporate insiders own 1.96% of the company’s stock.

NuScale Power Stock Performance

NYSE SMR opened at $21.13 on Monday. 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 Co. has a 1 year low of $1.88 and a 1 year high of $32.30. The company has a market capitalization of $5.40 billion, a PE ratio of -22.24 and a beta of 1.33. The company has a fifty day moving average of $21.59 and a two-hundred day moving average of $14.11.

NuScale Power Company 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.