Handelsbanken Fonder AB Acquires 145,285 Shares of Sunrun Inc. $RUN

Key Points

• Handelsbanken Fonder AB increased its Sunrun stake by 6.7% in the fourth quarter, buying 145,285 additional shares and bringing its total to 2,314,802 shares worth about $42.6 million.
• Sunrun’s recent earnings beat expectations, reporting $0.62 EPS versus an estimated loss and generating $722.23 million in revenue, up 43.2% year over year.
• Analysts remain mixed on the stock: the consensus rating is Moderate Buy with an average price target of $18.48, even as several firms cut targets and one lowered its rating to sell.

Handelsbanken Fonder AB grew its holdings in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 6.7% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 owned approximately 1.00% of Sunrun worth $42,592,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC raised its position in shares of Sunrun by 49.2% during the fourth 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. Sage Rhino Capital LLC raised its position in shares of Sunrun by 5.2% during the fourth quarter. Sage Rhino Capital LLC now owns 11,468 shares of the energy company's stock worth $211,000 after purchasing an additional 572 shares during the period. Crestwood Advisors Group LLC raised its position in shares of Sunrun by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 35,158 shares of the energy company's stock worth $608,000 after purchasing an additional 644 shares during the period. Swiss Life Asset Management Ltd raised its position in shares of Sunrun by 7.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 10,890 shares of the energy company's stock worth $200,000 after purchasing an additional 746 shares during the period. Finally, Harvest Portfolios Group Inc. raised its position in shares of Sunrun by 2.7% during the third quarter. Harvest Portfolios Group Inc. now owns 30,771 shares of the energy company's stock worth $532,000 after purchasing an additional 800 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RUN shares. Zacks Research raised Sunrun from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. Wall Street Zen lowered Sunrun from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. 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 report on Thursday, May 7th. 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. Finally, Barclays lowered their target price on Sunrun from $23.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.48.

Sunrun Stock Down 2.4%

Shares of NASDAQ RUN opened at $13.17 on Wednesday. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $22.44. The business has a 50-day simple moving average of $12.98 and a two-hundred day simple moving average of $16.58. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. The company has a market cap of $3.14 billion, a P/E ratio of 6.18 and a beta of 2.25.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, topping 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 business had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. During the same quarter last year, the company earned $0.20 EPS. The firm's revenue was up 43.2% compared to the same quarter last year. Research analysts anticipate that Sunrun Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other Sunrun news, insider Jeanna Steele sold 76,478 shares of the firm's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total value of $1,013,333.50. Following the sale, the insider owned 384,538 shares of the company's stock, valued at $5,095,128.50. This trade represents a 16.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 127,673 shares of the firm's 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 completion of the sale, the executive directly owned 707,126 shares in the company, valued at approximately $9,369,419.50. The trade was a 15.29% decrease in their position. 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. Over the last quarter, insiders have sold 716,050 shares of company stock worth $9,463,809. 3.55% of the stock is owned by insiders.

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.

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