1,354,236 Shares in Sunrun Inc. $RUN Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon bought 1.35 million Sunrun shares worth approximately $18.1 million, acquiring a 0.57% stake. Institutional investors and hedge funds collectively own 91.69% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $16.81; ratings range from “Sell” to “Buy.”
• Sunrun reported quarterly EPS of $0.42, beating estimates of $0.23, while revenue rose 52.8% year over year to $869.99 million. However, shares opened at $8.56, near the stock’s 52-week low of $8.49.

Bank of New York Mellon Corp purchased a new stake in Sunrun Inc. (NASDAQ:RUN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,354,236 shares of the energy company's stock, valued at approximately $18,120,000. Bank of New York Mellon Corp owned approximately 0.57% of Sunrun as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RUN shares. Royal Bank Of Canada decreased their price objective on Sunrun from $18.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Wall Street Zen upgraded Sunrun from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Glj Research reaffirmed a "sell" rating and set a $4.63 price target on shares of Sunrun in a research report on Monday, August 17th. UBS Group decreased their price target on shares of Sunrun from $23.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, June 16th. Finally, Mizuho set a $18.00 price objective on shares of Sunrun in a report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Sunrun has a consensus rating of "Hold" and a consensus target price of $16.81.

Sunrun Stock Performance

Shares of NASDAQ RUN opened at $8.56 on Tuesday. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. The stock has a 50 day moving average price of $10.98 and a 200 day moving average price of $12.97. The stock has a market capitalization of $2.06 billion, a PE ratio of 5.78 and a beta of 2.36. Sunrun Inc. has a 52 week low of $8.49 and a 52 week high of $22.44.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.19. The company had revenue of $869.99 million for the quarter, compared to analysts' expectations of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business's revenue was up 52.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. Analysts predict that Sunrun Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Activity

In other Sunrun news, CRO Paul S. Dickson sold 15,613 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.18, for a total value of $205,779.34. Following the completion of the sale, the executive owned 839,539 shares in the company, valued at $11,065,124.02. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 3,278 shares of Sunrun stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $12.17, for a total transaction of $39,893.26. Following the completion of the transaction, the chief accounting officer directly owned 90,033 shares of the company's stock, valued at approximately $1,095,701.61. This trade represents a 3.51% decrease in their position. 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. In the last three months, insiders sold 173,045 shares of company stock valued at $2,138,835. 3.55% of the stock is owned by corporate 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.

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