Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sunrun Inc. (NASDAQ:RUN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 314,626 shares of the energy company's stock, valued at approximately $4,210,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.13% of Sunrun as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the business. Amundi lifted its stake in shares of Sunrun by 56.3% in the 1st quarter. Amundi now owns 3,300,626 shares of the energy company's stock valued at $44,798,000 after purchasing an additional 1,188,564 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Sunrun during the 2nd quarter worth about $1,960,000. Diversify Advisory Services LLC acquired a new stake in shares of Sunrun during the 2nd quarter worth about $8,254,000. Handelsbanken Fonder AB increased its position 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 purchasing an additional 145,285 shares during the last quarter. Finally, Masters Capital Management LLC purchased a new stake in Sunrun in the 1st quarter valued at about $6,780,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CRO Paul S. Dickson sold 15,613 shares of the business's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.18, for a total transaction of $205,779.34. Following the completion of the transaction, the executive directly owned 839,539 shares of the company's stock, valued at approximately $11,065,124.02. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 9,897 shares of the company'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 $130,541.43. Following the sale, the insider owned 461,715 shares in the company, valued at $6,090,020.85. The trade was a 2.10% 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. In the last ninety days, insiders have sold 223,045 shares of company stock worth $2,934,835. Corporate insiders own 3.55% of the company's stock.
Sunrun Stock Down 0.8%
Sunrun stock opened at $9.06 on Friday. Sunrun Inc. has a twelve month low of $8.61 and a twelve month high of $22.44. The stock's fifty day simple moving average is $11.17 and its 200-day simple moving average is $13.13. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The firm has a market capitalization of $2.18 billion, a P/E ratio of 6.12 and a beta of 2.35.
Sunrun (NASDAQ:RUN - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The firm had revenue of $869.99 million during the quarter, compared to analysts' expectations of $746.87 million. During the same period in the previous year, the firm posted $1.07 EPS. Sunrun's revenue for the quarter was up 52.8% on a year-over-year basis. As a group, equities analysts expect that Sunrun Inc. will post 1.18 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Weiss Ratings cut shares of Sunrun from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of Sunrun from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. TD Cowen lowered their price objective on shares of Sunrun from $21.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Royal Bank Of Canada dropped their target price on shares of Sunrun from $18.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Finally, Oppenheimer reissued an "outperform" rating and issued a $20.00 target price on shares of Sunrun in a research report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $16.81.
Read Our Latest Analysis on RUN
About Sunrun
(
Free Report)
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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