First Trust Advisors LP decreased its holdings in shares of Sunrun Inc (NASDAQ:RUN) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,195 shares of the energy company’s stock after selling 10,242 shares during the quarter. First Trust Advisors LP owned 0.09% of Sunrun worth $1,284,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC grew its holdings in shares of Sunrun by 1.2% during the second quarter. FMR LLC now owns 16,349,797 shares of the energy company’s stock worth $215,000,000 after purchasing an additional 190,267 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Sunrun by 4.2% during the second quarter. BlackRock Inc. now owns 6,286,214 shares of the energy company’s stock worth $82,664,000 after purchasing an additional 252,109 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Sunrun by 3.5% during the second quarter. Van ECK Associates Corp now owns 2,613,646 shares of the energy company’s stock worth $34,369,000 after purchasing an additional 88,500 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Sunrun by 10.7% during the third quarter. Handelsbanken Fonder AB now owns 1,028,412 shares of the energy company’s stock worth $12,793,000 after purchasing an additional 99,343 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Sunrun by 13.4% during the second quarter. Northern Trust Corp now owns 989,196 shares of the energy company’s stock worth $13,008,000 after purchasing an additional 116,895 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Tiger Global Management Llc bought 13,502 shares of Sunrun stock in a transaction that occurred on Thursday, September 27th. The shares were acquired at an average cost of $12.00 per share, for a total transaction of $162,024.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jeanna Steele sold 7,044 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $12.77, for a total value of $89,951.88. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 3,135,689 shares of company stock worth $43,598,723 and sold 741,193 shares worth $10,738,892. Corporate insiders own 19.45% of the company’s stock.
RUN has been the topic of several research reports. Bank of America upgraded Sunrun from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $16.00 to $17.00 in a report on Tuesday, September 11th. They noted that the move was a valuation call. JMP Securities reduced their price target on Sunrun from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, August 30th. Credit Suisse Group boosted their price target on Sunrun from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Zacks Investment Research upgraded Sunrun from a “strong sell” rating to a “hold” rating in a report on Thursday, November 15th. Finally, ValuEngine upgraded Sunrun from a “buy” rating to a “strong-buy” rating in a report on Friday, November 30th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Sunrun presently has a consensus rating of “Buy” and a consensus price target of $15.25.
Shares of RUN stock opened at $13.96 on Friday. Sunrun Inc has a one year low of $5.08 and a one year high of $16.44. The company has a market capitalization of $1.60 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.91 and a beta of -0.54. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 1.44.
Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, November 7th. The energy company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.36). Sunrun had a net margin of 13.72% and a return on equity of 4.78%. The company had revenue of $204.96 million during the quarter, compared to the consensus estimate of $190.06 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The business’s revenue was up 41.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Sunrun Inc will post 0.89 EPS for the current fiscal year.
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Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.
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