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Fluor Corp (NYSE:FLR), a ten percent owner of NuScale Power Corp (NYSE:SMR), has sold 2,139,429 shares of Class A Common Stock for approximately $79.9 million. The sales occurred between September 29 and October 1, with prices ranging from $35.86 to $40.05. According to InvestingPro data, SMR’s stock has shown significant volatility, with a 208% return over the past year and a recent 7.7% decline in the past week.
On September 29, Fluor sold 324,551 shares at an average price of $38.34, 310,463 shares at an average price of $39.36 and 62,196 shares at an average price of $40.05. On September 30, the company sold 588,668 shares at an average price of $36.47 and 320,387 shares at an average price of $37.17. On October 1, Fluor sold 113,415 shares at an average price of $35.86 and 418,939 shares at an average price of $36.70. SMR maintains strong financial health with a current ratio of 4.22 and impressive gross profit margins of 71.5%.
Following these transactions, Fluor Corp still indirectly owns 3,424,278 shares of NuScale Power Corp through its wholly owned subsidiary, Fluor Enterprises, Inc. For comprehensive analysis and 14 additional key insights about SMR, access the full research report on InvestingPro.
In other recent news, NuScale Power Corporation has announced a significant agreement with ENTRA1 Energy and the Tennessee Valley Authority (TVA) to deploy up to 6 gigawatts of small modular reactor (SMR) capacity across TVA’s seven-state service region. This initiative is recognized as the largest SMR deployment in U.S. history and aims to provide carbon-free electricity equivalent to powering the entire Dallas-Fort Worth metropolitan area. Additionally, NuScale Power has entered into a tri-party agreement with the U.S. Department of Energy and CFPP LLC to acquire reactor materials for $32.3 million, which involves purchasing rights and interests in long lead time materials. In analyst updates, RBC Capital initiated coverage on NuScale Power with a Sector Perform rating and a $35.00 price target, classifying the stock with a Speculative Risk rating. These developments reflect NuScale Power’s position as a first mover in the SMR technology sector.
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