Portland Investment Counsel Inc. Raises Holdings in NuScale Power Corporation $SMR

Portland Investment Counsel Inc. lifted its holdings in NuScale Power Corporation (NYSE:SMR) by 12.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,000 shares of the company’s stock after buying an additional 5,000 shares during the quarter. NuScale Power accounts for 0.5% of Portland Investment Counsel Inc.’s portfolio, making the stock its 19th biggest holding. Portland Investment Counsel Inc.’s holdings in NuScale Power were worth $1,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after acquiring an additional 1,705,411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NuScale Power by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock valued at $96,880,000 after purchasing an additional 1,153,158 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of NuScale Power by 25.2% in the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock valued at $112,944,000 after purchasing an additional 574,295 shares during the period. Vanguard Group Inc. boosted its holdings in NuScale Power by 6.1% during the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock worth $126,598,000 after buying an additional 512,618 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in NuScale Power by 623.4% during the first quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock worth $6,475,000 after buying an additional 394,065 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Stock Performance

Shares of NYSE:SMR opened at $19.01 on Friday. The business’s fifty day moving average price is $35.15 and its two-hundred day moving average price is $36.42. The stock has a market cap of $5.68 billion, a PE ratio of -6.65 and a beta of 2.03. NuScale Power Corporation has a one year low of $11.08 and a one year high of $57.42.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The company had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm’s revenue was up 1635.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) earnings per share. As a group, equities research analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMR. Barclays began coverage on shares of NuScale Power in a report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 target price for the company. BNP Paribas downgraded NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. UBS Group set a $20.00 target price on NuScale Power in a research report on Tuesday. Cantor Fitzgerald initiated coverage on NuScale Power in a report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price on the stock. Finally, Zacks Research downgraded NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, NuScale Power currently has an average rating of “Reduce” and a consensus target price of $36.12.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the sale, the director directly owned 10,085,344 shares of the company’s stock, valued at $443,654,282.56. This trade represents a 19.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 15,000,000 shares of company stock valued at $604,862,902. 1.20% 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.