Major Shareholder Fluor Corp Divests $1.35B in Shares, Commits to Sell Additional $568M
SMR sits 28% above its 52-week low of $11.08.
Summary
Fluor Corporation, a significant shareholder, has disclosed a completed sale of 71 million shares for $1.35 billion and entered into agreements to sell an additional 39.9 million shares through variable price forward sale programs.
Key Events · Ownership and Investor Activity · SMR
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Completed Share Sale to Goldman Sachs
Fluor's subsidiary, Nuke Holdings, LLC, sold 71 million shares of Class A Common Stock to Goldman Sachs International on February 13, 2026, at a price of $19.0498 per share, totaling approximately $1.35 billion.
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New Forward Sale Agreements with BofA and Citi
On February 17, 2026, Nuke Holdings, LLC entered into agreements to sell an additional 39.9 million shares (27 million to Bank of America and 12.9 million to Citibank) through variable price forward sale programs, expected to complete by Q2 2026. These agreements correspond to the Form 144 filings made on the same day.
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Significant Stake Reduction by Major Shareholder
These transactions represent a substantial reduction in Fluor Corporation's overall ownership in NuScale Power, signaling a major institutional investor is significantly decreasing its exposure.
Analysis · SMR · Manufacturing
This Schedule 13D/A filing reveals a substantial reduction in Fluor Corporation's ownership stake in NuScale Power. The completed sale of 71 million shares to Goldman Sachs for $1.35 billion, executed on February 13, 2026, represents a significant divestment. Furthermore, Fluor's subsidiary, Nuke Holdings, LLC, has committed to sell an additional 39.9 million shares through variable price forward sale agreements with Bank of America and Citibank, with programs expected to complete by Q2 2026. These transactions collectively represent a major reduction in a key institutional investor's position, potentially creating an overhang on the stock as more shares are expected to enter the market. This filing provides the definitive contractual details for sales previously indicated by Form 144 filings on the same day.
At the time of this filing, SMR was trading at $14.23 on NYSE in the Manufacturing sector, with a market capitalization of approximately $4.3B. The 52-week trading range was $11.08 to $57.42. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.