Sunrun Inc. $RUN Stake Trimmed by PGGM Investments

PGGM Investments lowered its stake in Sunrun Inc. (NASDAQ:RUN) by 7.1% during the fourth quarter, HoldingsChannel reports. The firm owned 7,667,413 shares of the energy company’s stock after selling 589,528 shares during the period. Sunrun accounts for approximately 2.2% of PGGM Investments’ holdings, making the stock its 14th biggest position. PGGM Investments’ holdings in Sunrun were worth $141,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RUN. Voloridge Investment Management LLC purchased a new position in Sunrun in the 3rd quarter worth about $40,193,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Sunrun by 132.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock worth $48,777,000 after purchasing an additional 1,609,803 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Sunrun in the 3rd quarter worth about $21,427,000. Erste Asset Management GmbH increased its stake in Sunrun by 62.7% in the 3rd quarter. Erste Asset Management GmbH now owns 3,082,234 shares of the energy company’s stock worth $54,778,000 after purchasing an additional 1,188,092 shares in the last quarter. Finally, HRT Financial LP purchased a new position in Sunrun in the 2nd quarter worth about $9,416,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on RUN shares. Freedom Capital cut Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. UBS Group lowered their target price on Sunrun from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Glj Research reaffirmed a “sell” rating and set a $4.63 target price on shares of Sunrun in a research note on Thursday, April 16th. TD Cowen lowered their target price on Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Weiss Ratings cut Sunrun from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.48.

Sunrun Stock Performance

NASDAQ:RUN opened at $14.62 on Tuesday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09. Sunrun Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The stock’s 50-day moving average is $13.17 and its two-hundred day moving average is $16.43. The stock has a market cap of $3.49 billion, a PE ratio of 6.86 and a beta of 2.25.

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

Insider Buying and Selling at Sunrun

In other news, CAO Maria Barak sold 8,039 shares of Sunrun stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $13.67, for a total transaction 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. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paul S. Dickson sold 127,673 shares of Sunrun stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,691,667.25. Following the sale, the executive owned 707,126 shares of the company’s stock, valued at approximately $9,369,419.50. This represents a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 716,050 shares of company stock worth $9,463,809 over the last quarter. Insiders own 3.55% of the company’s stock.

Sunrun 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.