Principal Financial Group Inc. Has $20.66 Million Stock Holdings in Sunrun Inc. $RUN

Principal Financial Group Inc. increased its position in shares of Sunrun Inc. (NASDAQ:RUN) by 5.6% during the 3rd quarter, Holdings Channel reports. The fund owned 1,194,915 shares of the energy company’s stock after buying an additional 63,284 shares during the quarter. Principal Financial Group Inc.’s holdings in Sunrun were worth $20,660,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RUN. Royal Bank of Canada raised its holdings in Sunrun by 5.1% in the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock worth $3,672,000 after purchasing an additional 30,175 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in Sunrun by 47.8% during the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock worth $192,000 after acquiring an additional 10,598 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Sunrun by 2.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock worth $1,397,000 after acquiring an additional 5,882 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Sunrun by 511.0% in the first quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock valued at $158,000 after acquiring an additional 22,603 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Sunrun by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock worth $13,518,000 after acquiring an additional 718,955 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RUN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sunrun in a report on Thursday, January 22nd. Morgan Stanley lifted their price target on Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Citigroup raised shares of Sunrun from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $26.00 in a research note on Tuesday, October 21st. Guggenheim upgraded Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday, November 10th. Finally, Susquehanna raised their target price on shares of Sunrun from $13.00 to $23.00 and gave the company a “positive” rating in a research note on Monday, October 13th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.99.

Sunrun Stock Performance

NASDAQ:RUN opened at $19.93 on Monday. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $22.44. The company has a current ratio of 1.46, a quick ratio of 1.06 and a debt-to-equity ratio of 3.67. The stock has a market cap of $4.62 billion, a P/E ratio of -1.78 and a beta of 2.36. The stock has a 50 day simple moving average of $18.72 and a 200 day simple moving average of $17.49.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $724.56 million for the quarter, compared to the consensus estimate of $601.15 million. Sunrun had a negative net margin of 106.50% and a positive return on equity of 19.34%. Sunrun’s revenue was up 34.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.37) earnings per share. Research analysts anticipate that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Maria Barak sold 1,630 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $18.55, for a total transaction of $30,236.50. Following the sale, the chief accounting officer owned 85,643 shares of the company’s stock, valued at $1,588,677.65. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Danny Abajian sold 7,190 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total value of $127,982.00. Following the transaction, the chief financial officer owned 405,518 shares in the company, valued at approximately $7,218,220.40. This trade represents a 1.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 354,956 shares of company stock valued at $6,634,832 in the last quarter. Company insiders own 3.37% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.