Healthcare of Ontario Pension Plan Trust Fund Sells 341,516 Shares of Sunrun Inc. $RUN

Healthcare of Ontario Pension Plan Trust Fund reduced its position in shares of Sunrun Inc. (NASDAQ:RUN) by 70.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,537 shares of the energy company’s stock after selling 341,516 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.06% of Sunrun worth $1,987,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB grew its stake in shares of Sunrun by 6.7% during the 4th quarter. Handelsbanken Fonder AB now owns 2,314,802 shares of the energy company’s stock worth $42,592,000 after acquiring an additional 145,285 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Sunrun by 33.1% in the fourth quarter. Intech Investment Management LLC now owns 324,632 shares of the energy company’s stock worth $5,973,000 after purchasing an additional 80,695 shares in the last quarter. LBP AM SA bought a new stake in shares of Sunrun in the fourth quarter worth $3,307,000. Lingotto Investment Management LLP acquired a new position in Sunrun during the fourth quarter worth $4,480,000. Finally, Baader Bank Aktiengesellschaft bought a new position in Sunrun in the fourth quarter valued at $2,760,000. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RUN has been the topic of several analyst reports. Susquehanna cut their price target on shares of Sunrun from $19.00 to $18.00 and set a “positive” rating on the stock in a research report on Friday, July 10th. JPMorgan Chase & Co. lowered their target price on Sunrun from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Wall Street Zen cut Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, TD Cowen dropped their price objective on Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Sunrun currently has an average rating of “Hold” and a consensus target price of $18.81.

Sunrun Stock Performance

RUN opened at $9.81 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. Sunrun Inc. has a 12-month low of $9.01 and a 12-month high of $22.44. The business has a 50 day moving average of $12.78 and a 200-day moving average of $14.41. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 4.61 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business had revenue of $722.23 million for the quarter, compared to analysts’ expectations of $688.50 million. During the same quarter in the prior year, the business earned $0.20 EPS. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis. On average, equities research analysts expect that Sunrun Inc. will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $15.92, for a total value of $796,000.00. Following the transaction, the director directly owned 459,091 shares of the company’s stock, valued at $7,308,728.72. This represents a 9.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Danny Abajian sold 16,495 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $217,569.05. Following the sale, the chief financial officer owned 420,318 shares of the company’s stock, valued at $5,543,994.42. This trade represents a 3.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 173,045 shares of company stock valued at $2,436,835. 3.55% of the stock is currently owned by insiders.

Sunrun Company Profile

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.