Handelsbanken Fonder AB Increases Holdings in Sunrun Inc. $RUN

Handelsbanken Fonder AB lifted its position in shares of Sunrun Inc. (NASDAQ:RUN) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,314,802 shares of the energy company’s stock after buying an additional 145,285 shares during the period. Handelsbanken Fonder AB’s holdings in Sunrun were worth $42,592,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RUN. Farther Finance Advisors LLC increased its stake in Sunrun by 156.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after purchasing an additional 885 shares during the period. Sycomore Asset Management purchased a new position in Sunrun in the 3rd quarter worth approximately $28,000. Optiver Holding B.V. purchased a new position in Sunrun in the 3rd quarter worth approximately $31,000. Salomon & Ludwin LLC increased its stake in Sunrun by 49.2% in the 4th quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock worth $31,000 after purchasing an additional 558 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Sunrun by 181.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock worth $34,000 after purchasing an additional 2,660 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Stock Performance

Shares of RUN stock opened at $13.17 on Wednesday. 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 52 week low of $5.38 and a 52 week high of $22.44. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 6.18 and a beta of 2.25. The stock has a fifty day moving average of $12.98 and a 200 day moving average of $16.58.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company had revenue of $722.23 million for the quarter, compared to analyst estimates of $688.50 million. During the same period in the previous year, the company posted $0.20 earnings per share. The firm’s revenue was up 43.2% on a year-over-year basis. As a group, research analysts expect that Sunrun Inc. will post 1.09 earnings per share for the current year.

Insider Activity at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $12.89, for a total value of $644,500.00. Following the sale, the director directly owned 507,947 shares of the company’s stock, valued at approximately $6,547,436.83. The trade was a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maria Barak sold 8,039 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $13.67, for a total value of $109,893.13. Following the completion of the sale, the chief accounting officer directly owned 72,963 shares in the company, valued at $997,404.21. This trade represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 716,050 shares of company stock valued at $9,463,809 over the last ninety days. Insiders own 3.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RUN shares. Zacks Research raised Sunrun from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Oppenheimer lifted their price target on Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Weiss Ratings lowered Sunrun from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Susquehanna dropped their price target on Sunrun from $24.00 to $19.00 and set a “positive” rating for the company in a research note on Thursday, April 9th. Finally, Citigroup dropped their price target on Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.48.

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.