Franklin Resources Inc. Takes Position in NuScale Power Co. (NYSE:SMR)

Franklin Resources Inc. bought a new stake in shares of NuScale Power Co. (NYSE:SMR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,967 shares of the company’s stock, valued at approximately $555,000.

Other institutional investors also recently bought and sold shares of the company. Catalina Capital Group LLC raised its stake in NuScale Power by 6.8% in the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after buying an additional 809 shares during the last quarter. HighTower Advisors LLC raised its position in shares of NuScale Power by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after purchasing an additional 820 shares during the last quarter. Indie Asset Partners LLC boosted its stake in NuScale Power by 7.1% in the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock worth $218,000 after purchasing an additional 1,250 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power during the 3rd quarter worth approximately $44,000. Finally, US Bancorp DE acquired a new position in shares of NuScale Power in the 3rd quarter valued at $54,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,610 shares of company stock worth $3,528,780 in the last ninety days. Company insiders own 1.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Down 6.7 %

SMR stock opened at $18.21 on Tuesday. The firm’s fifty day moving average is $22.77 and its 200 day moving average is $14.97. The firm has a market cap of $4.65 billion, a PE ratio of -19.17 and a beta of 1.33. NuScale Power Co. has a one year low of $1.88 and a one year high of $32.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

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.