Louisiana State Employees Retirement System Takes Position in Sunrun Inc. $RUN

Key Points

• Louisiana State Employees Retirement System opened a new position in Sunrun during the first quarter, buying 102,900 shares worth about $1.4 million.
• Institutional ownership remains very high, with 91.69% of Sunrun shares held by institutions and hedge funds. Several firms also recently increased their stakes in the solar company.
• Analyst sentiment is mixed: while 12 analysts rate Sunrun a Buy, nine a Hold and two a Sell, the consensus rating is Hold with an average price target of $18.98.

Louisiana State Employees Retirement System acquired a new position in Sunrun Inc. (NASDAQ:RUN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 102,900 shares of the energy company's stock, valued at approximately $1,395,000.

A number of other institutional investors have also recently bought and sold shares of the business. U S Wealth Group LLC. lifted its position in shares of Sunrun by 23.6% in the fourth quarter. U S Wealth Group LLC. now owns 63,736 shares of the energy company's stock worth $1,173,000 after purchasing an additional 12,157 shares in the last quarter. Hsbc Holdings PLC grew its position in Sunrun by 19.1% during the fourth quarter. Hsbc Holdings PLC now owns 86,497 shares of the energy company's stock valued at $1,593,000 after purchasing an additional 13,860 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Sunrun during the fourth quarter valued at approximately $27,000. Virtu Financial LLC acquired a new position in Sunrun in the 4th quarter valued at approximately $1,046,000. Finally, Invesco Ltd. increased its stake in Sunrun by 26.6% in the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company's stock valued at $107,975,000 after buying an additional 1,231,628 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RUN. Zacks Research downgraded shares of Sunrun from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Wall Street Zen downgraded shares of Sunrun from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. cut their price objective on Sunrun from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. Glj Research reiterated a "sell" rating on shares of Sunrun in a report on Wednesday, June 24th. Finally, Barclays reduced their price objective on Sunrun from $23.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Sunrun has an average rating of "Hold" and an average target price of $18.98.

Insiders Place Their Bets

In related news, CFO Danny Abajian sold 2,030 shares of Sunrun stock in a transaction on Monday, June 8th. The shares were sold at an average price of $13.39, for a total value of $27,181.70. Following the transaction, the chief financial officer owned 438,781 shares in the company, valued at $5,875,277.59. This trade represents a 0.46% decrease in their position. 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 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 transaction of $109,893.13. Following the transaction, the chief accounting officer directly owned 72,963 shares of the company's stock, valued at approximately $997,404.21. This represents a 9.92% 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. Insiders sold 694,816 shares of company stock valued at $9,343,473 in the last three months. Company insiders own 3.55% of the company's stock.

Sunrun Stock Down 2.8%

Shares of RUN stock opened at $12.74 on Friday. The stock's 50 day simple moving average is $13.69 and its 200 day simple moving average is $15.46. Sunrun Inc. has a twelve month low of $9.01 and a twelve month high of $22.44. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 5.98 and a beta of 2.32.

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

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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