PNC Financial Services Group Inc. Cuts Position in Sunrun Inc. (NASDAQ:RUN)

PNC Financial Services Group Inc. decreased its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 24.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,275 shares of the energy company’s stock after selling 3,669 shares during the period. PNC Financial Services Group Inc.’s holdings in Sunrun were worth $104,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC raised its position in shares of Sunrun by 29.5% in the 3rd quarter. Natixis Advisors LLC now owns 34,295 shares of the energy company’s stock worth $619,000 after purchasing an additional 7,814 shares during the last quarter. Quest Partners LLC raised its holdings in Sunrun by 149.9% in the third quarter. Quest Partners LLC now owns 19,290 shares of the energy company’s stock worth $348,000 after buying an additional 11,570 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Sunrun by 41.8% in the third quarter. Advisors Asset Management Inc. now owns 48,001 shares of the energy company’s stock worth $867,000 after buying an additional 14,157 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Sunrun during the third quarter valued at approximately $1,223,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Sunrun by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,170,251 shares of the energy company’s stock valued at $39,195,000 after acquiring an additional 107,391 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Mary Powell sold 4,350 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward Harris Fenster bought 150,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the purchase, the director now directly owns 1,358,182 shares in the company, valued at $9,235,637.60. This trade represents a 12.42 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 121,466 shares of company stock valued at $1,136,397. 3.77% of the stock is owned by corporate insiders.

Sunrun Stock Performance

Shares of RUN opened at $6.56 on Wednesday. Sunrun Inc. has a 52 week low of $5.93 and a 52 week 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 stock has a market cap of $1.48 billion, a price-to-earnings ratio of -3.60 and a beta of 2.84. The business has a 50-day simple moving average of $8.10 and a two-hundred day simple moving average of $11.45.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets lowered their price objective on Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a research report on Monday, March 3rd. Roth Capital set a $20.00 price objective on Sunrun in a research report on Friday, February 28th. TD Cowen reduced their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, February 28th. Barclays lowered their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Finally, Truist Financial reiterated a “hold” rating and issued a $9.00 price target (down from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

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.