Mirova Boosts Stake in Sunrun Inc. $RUN

Key Points

• Mirova increased its stake in Sunrun Inc. by 39.9% in Q1, now holding approximately 798,129 shares valued at $4.68 million.
• Sunrun's stock recently traded up by 9.9%, with a current market cap of $3.74 billion, and a notable debt-to-equity ratio of 3.70.
• The company reported a quarterly earnings of $1.07 EPS, exceeding analysts' expectations, with revenue of $569.34 million, up 8.7% from the previous year.

Mirova raised its position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 39.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 798,129 shares of the energy company's stock after acquiring an additional 227,667 shares during the period. Mirova owned approximately 0.35% of Sunrun worth $4,677,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Quantitative Investment Management LLC grew its position in Sunrun by 169.5% during the first quarter. Quantitative Investment Management LLC now owns 571,479 shares of the energy company's stock valued at $3,348,000 after acquiring an additional 359,463 shares during the period. AlphaQuest LLC grew its position in Sunrun by 401.6% during the first quarter. AlphaQuest LLC now owns 60,252 shares of the energy company's stock valued at $353,000 after acquiring an additional 48,239 shares during the period. Erste Asset Management GmbH grew its position in Sunrun by 5.5% during the first quarter. Erste Asset Management GmbH now owns 5,053,237 shares of the energy company's stock valued at $30,044,000 after acquiring an additional 264,024 shares during the period. Humankind Investments LLC grew its position in Sunrun by 28.5% during the first quarter. Humankind Investments LLC now owns 26,222 shares of the energy company's stock valued at $154,000 after acquiring an additional 5,818 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its position in Sunrun by 13.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 63,822 shares of the energy company's stock valued at $371,000 after acquiring an additional 7,359 shares during the period. Hedge funds and other institutional investors own 91.69% of the company's stock.

Sunrun Trading Up 9.9%

NASDAQ:RUN opened at $16.20 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. Sunrun Inc. has a one year low of $5.38 and a one year high of $22.26. The business's 50-day simple moving average is $10.29 and its 200 day simple moving average is $8.58. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -1.40 and a beta of 2.37.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, topping the consensus estimate of ($0.18) by $1.25. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The business had revenue of $569.34 million for the quarter, compared to analysts' expectations of $555.42 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company's revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mary Powell sold 11,509 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $124,297.20. Following the transaction, the chief executive officer owned 893,240 shares in the company, valued at approximately $9,646,992. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Danny Abajian sold 8,909 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $96,217.20. Following the completion of the transaction, the chief financial officer owned 446,797 shares in the company, valued at approximately $4,825,407.60. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,283 shares of company stock valued at $836,110. Insiders own 3.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RUN. Glj Research raised Sunrun from a "sell" rating to a "hold" rating in a research report on Friday, August 15th. KeyCorp upgraded Sunrun from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada upgraded Sunrun from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $12.00 to $16.00 in a research note on Monday, August 18th. Susquehanna boosted their price objective on Sunrun from $12.00 to $13.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Finally, Cowen restated a "buy" rating on shares of Sunrun in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.63.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.

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