Vanguard Group Inc. Boosts Holdings in Sunrun Inc. (NASDAQ:RUN)

Vanguard Group Inc. increased its holdings in Sunrun Inc. (NASDAQ:RUN) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,581,958 shares of the energy company’s stock after acquiring an additional 176,861 shares during the quarter. Vanguard Group Inc. owned 0.09% of Sunrun worth $384,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Sunrun by 46.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,967 shares of the energy company’s stock worth $113,000 after acquiring an additional 2,830 shares during the period. Dark Forest Capital Management LP bought a new stake in Sunrun during the 3rd quarter worth approximately $494,000. Algert Global LLC bought a new stake in Sunrun during the 3rd quarter worth approximately $129,000. Bank of Nova Scotia bought a new stake in Sunrun during the 3rd quarter worth approximately $1,078,000. Finally, Teza Capital Management LLC raised its stake in Sunrun by 4.8% during the 3rd quarter. Teza Capital Management LLC now owns 72,812 shares of the energy company’s stock worth $915,000 after acquiring an additional 3,345 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mary Powell sold 1,741 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $14.86, for a total transaction of $25,871.26. Following the transaction, the chief executive officer now owns 589,927 shares of the company’s stock, valued at $8,766,315.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Mary Powell sold 1,741 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $14.86, for a total transaction of $25,871.26. Following the transaction, the chief executive officer now owns 589,927 shares of the company’s stock, valued at $8,766,315.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Danny Abajian sold 17,440 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $12.07, for a total value of $210,500.80. Following the transaction, the chief financial officer now directly owns 163,734 shares in the company, valued at approximately $1,976,269.38. The disclosure for this sale can be found here. Insiders have sold 427,143 shares of company stock valued at $5,502,579 over the last ninety days. 3.76% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on RUN shares. Morgan Stanley raised their target price on shares of Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Susquehanna dropped their target price on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating for the company in a research report on Thursday, May 9th. Jefferies Financial Group reduced their price target on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Royal Bank of Canada dropped their price objective on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Finally, Mizuho reduced their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.47.

Sunrun Trading Up 4.5 %

Shares of NASDAQ RUN opened at $13.27 on Friday. The business’s 50 day moving average is $12.45 and its two-hundred day moving average is $13.61. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.31 and a quick ratio of 0.99. Sunrun Inc. has a 1-year low of $8.43 and a 1-year high of $23.85. The stock has a market capitalization of $2.94 billion, a P/E ratio of -1.99 and a beta of 2.65.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The company had revenue of $458.20 million for the quarter, compared to analysts’ expectations of $471.38 million. During the same period in the previous year, the firm posted ($1.12) earnings per share. The firm’s revenue for the quarter was down 22.3% on a year-over-year basis. As a group, research analysts expect that Sunrun Inc. will post -1.27 EPS for the current year.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.