The Manufacturers Life Insurance Company Boosts Stock Position in Sunrun Inc. (NASDAQ:RUN)

The Manufacturers Life Insurance Company increased its stake in Sunrun Inc. (NASDAQ:RUN) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 233,551 shares of the energy company’s stock after purchasing an additional 2,441 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Sunrun were worth $4,218,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RUN. CWM LLC increased its holdings in Sunrun by 883.9% during the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after acquiring an additional 3,014 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of Sunrun in the second quarter worth $132,000. QRG Capital Management Inc. boosted its stake in Sunrun by 4.9% during the second quarter. QRG Capital Management Inc. now owns 27,818 shares of the energy company’s stock valued at $330,000 after buying an additional 1,309 shares during the period. SG Americas Securities LLC grew its position in Sunrun by 202.3% during the second quarter. SG Americas Securities LLC now owns 38,749 shares of the energy company’s stock worth $460,000 after buying an additional 25,931 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in Sunrun in the 2nd quarter worth about $525,000. 91.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Mary Powell sold 6,415 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $16.34, for a total transaction of $104,821.10. Following the transaction, the chief executive officer now directly owns 569,368 shares of the company’s stock, valued at approximately $9,303,473.12. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward Harris Fenster sold 4,646 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $18.01, for a total value of $83,674.46. Following the completion of the sale, the director now directly owns 1,202,777 shares of the company’s stock, valued at $21,662,013.77. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,337 shares of company stock valued at $2,634,276. Insiders own 3.77% of the company’s stock.

Sunrun Trading Up 2.1 %

Shares of RUN opened at $10.58 on Friday. The stock has a market capitalization of $2.37 billion, a P/E ratio of -5.81 and a beta of 2.54. Sunrun Inc. has a twelve month low of $9.23 and a twelve month high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm has a fifty day simple moving average of $13.30 and a two-hundred day simple moving average of $15.32.

Wall Street Analysts Forecast Growth

RUN has been the subject of several recent analyst reports. Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Barclays cut their price target on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group restated a “buy” rating and set a $20.00 price objective on shares of Sunrun in a research report on Wednesday, September 25th. Guggenheim downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded Sunrun to a “sell” rating in a report on Friday, September 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.28.

Sunrun 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.