On Feb. 13, 2026, Fluor Corp. (FLR 2.65%), a large shareholder of NuScale Power Corporation (SMR 4.60%), disclosed the sale of 71 million shares of common stock for a total consideration of ~$1.35 billion, as detailed in the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold | 71 million |
| Transaction value | $1.35 billion |
| Post-transaction shares (indirect) | 40,400,219 |
Transaction value based on SEC Form 4 reported price ($19.05).
Key questions
- How does this transaction compare to Fluor’s historical selling patterns?
This trade is materially larger than any prior individual sale by Fluor, with the previous maximum being 4,567,320 shares on Sept. 23, 2025. - What was the ownership impact of this sale on Fluor’s holdings in NuScale Power Corporation?
The transaction reduced total indirect holdings from ~111 million to ~40 million shares, representing a decrease of 63.73% of the insider’s pre-transaction position in common stock, with post-trade ownership entirely indirect. - What entities facilitated the indirect disposition of shares?
All shares were held indirectly through entities including Fluor Enterprises, Inc. and NuScale Holdings Corp, both controlled by Fluor Corporation as detailed in the Form 4 footnotes. - Does Fluor retain a meaningful economic interest after this transaction?
Despite the large reduction, Fluor retains 40,400,219 shares of Class A common stock (indirect), which remain convertible into common stock and represent ongoing exposure to NuScale Power’s equity performance.
Company overview
| Metric | Value |
|---|---|
| Employees | 330 |
| Revenue (TTM) | $63.9 million |
| Net income (TTM) | -$380 million |
| 1-year price change | -42.10% |
* 1-year price change calculated as of Feb. 13, 2026.
Company snapshot
- NuScale Power offers modular light water reactor nuclear power plants, including the NuScale Power Module and VOYGR series, for electricity generation, district heating, desalination, and hydrogen production.
- The company generates revenue by selling advanced nuclear reactor systems and related engineering services, with a focus on scalable and customizable power plant configurations.
- It targets utilities, government agencies, and industrial customers seeking reliable, carbon-free energy solutions.
NuScale Power Corporation is a leading developer of modular nuclear reactor technology, enabling flexible and scalable deployment of clean energy solutions. The company's strategy centers on providing advanced, small-scale reactors that address the growing demand for reliable, low-carbon power generation. NuScale's competitive edge lies in its proprietary reactor designs and the ability to tailor energy solutions for a diverse set of global customers.
What this transaction means for investors
NuScale Power shareholders shouldn’t panic over this large sale. Fluor has been an early investor in NuScale, and the construction and engineering giant has notified investors of its plans to monetize that investment.
Fluor sold $605 million worth of its NuScale holding in 2025 and this sale marks an additional $1.35 billion in Q1 of 2026. NuScale investors should expect more to come, with Fluor planning full monetization of investment by end of Q2 2026.
Fluor is still partnering with NuScale, but is capitalizing on the successful investment. In its fourth-quarter earnings release, Fluor CFO John Regan stated, “With the continued monetization of our NuScale investment, we have enhanced financial flexibility to drive organic growth, M&A opportunities that advance our strategic objectives, and continued repurchases.”
The company isn’t souring on NuScale, it is simply attempting to return the value to shareholders. Management had previously let investors know that entering 2026, it planned to divest its remaining 111 million shares by the end of the second quarter of 2026.
Another 40 million shares will be sold shortly, and then NuScale Power shareholders can refocus on the business and its long-term strategy to commercialize its localized nuclear power modules.
