Bank of Montreal Can Cuts Position in Sunrun Inc. (NASDAQ:RUN)

Bank of Montreal Can lessened its position in shares of Sunrun Inc. (NASDAQ:RUN) by 65.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 170,326 shares of the energy company’s stock after selling 320,173 shares during the quarter. Bank of Montreal Can’s holdings in Sunrun were worth $2,020,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in shares of Sunrun by 91.4% in the 4th quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock valued at $62,000 after purchasing an additional 1,513 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Sunrun by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock valued at $1,837,000 after purchasing an additional 910 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Sunrun by 16.9% in the 4th quarter. Bank of Nova Scotia now owns 100,460 shares of the energy company’s stock valued at $1,976,000 after purchasing an additional 14,513 shares during the last quarter. KBC Group NV lifted its stake in shares of Sunrun by 31.0% in the 4th quarter. KBC Group NV now owns 324,665 shares of the energy company’s stock valued at $6,373,000 after purchasing an additional 76,889 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Sunrun by 36.0% in the 4th quarter. First Trust Advisors LP now owns 2,172,728 shares of the energy company’s stock valued at $42,651,000 after purchasing an additional 575,293 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In related news, insider Jeanna Steele sold 2,513 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $12.61, for a total transaction of $31,688.93. Following the transaction, the insider now directly owns 312,774 shares in the company, valued at approximately $3,944,080.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Sunrun news, insider Jeanna Steele sold 2,513 shares of Sunrun stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $12.61, for a total transaction of $31,688.93. Following the completion of the sale, the insider now owns 312,774 shares of the company’s stock, valued at approximately $3,944,080.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary Powell sold 5,569 shares of Sunrun stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $12.62, for a total value of $70,280.78. Following the sale, the chief executive officer now directly owns 581,341 shares of the company’s stock, valued at approximately $7,336,523.42. The disclosure for this sale can be found here. Insiders have sold a total of 178,675 shares of company stock worth $3,253,289 in the last ninety days. 3.76% of the stock is owned by insiders.

Sunrun Trading Down 1.0 %

Shares of NASDAQ:RUN opened at $16.84 on Friday. Sunrun Inc. has a 12-month low of $8.43 and a 12-month high of $22.26. The business’s fifty day simple moving average is $18.75 and its 200-day simple moving average is $14.82. The company has a market capitalization of $3.76 billion, a PE ratio of -2.51 and a beta of 2.59. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. During the same period in the previous year, the business earned $0.25 EPS. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. As a group, equities research analysts predict that Sunrun Inc. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RUN. Barclays raised their price objective on Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. StockNews.com raised Sunrun to a “sell” rating in a research note on Friday, September 27th. Oppenheimer raised their price target on Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Piper Sandler raised their price target on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI decreased their price target on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

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.