M&T Bank Corp Buys New Position in Sunrun Inc. $RUN

Key Points

• M&T Bank Corp bought a new position of 201,648 shares of Sunrun (NASDAQ:RUN) during the fourth quarter, valued at about $3.71 million and representing roughly 0.09% ownership.
• Insiders—including CRO Paul S. Dickson and CFO Danny Abajian—sold a total of 879,894 shares worth about $13.02 million in the last 90 days to cover tax withholding from vested equity, leaving insiders with 3.37% ownership.
• Sunrun beat Q results with $0.38 EPS vs. a -$0.08 consensus and revenue of $1.16 billion (up 123.5% YoY); analysts' consensus rating is "Hold" with an average price target of $18.63.

M&T Bank Corp bought a new position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 201,648 shares of the energy company's stock, valued at approximately $3,710,000. M&T Bank Corp owned 0.09% of Sunrun as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RUN. Vanguard Group Inc. boosted its position in shares of Sunrun by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company's stock valued at $418,300,000 after purchasing an additional 288,945 shares in the last quarter. PGGM Investments raised its holdings in shares of Sunrun by 17.8% in the 3rd quarter. PGGM Investments now owns 8,256,941 shares of the energy company's stock worth $142,763,000 after purchasing an additional 1,249,683 shares in the last quarter. Erste Asset Management GmbH lifted its stake in Sunrun by 62.7% during the third quarter. Erste Asset Management GmbH now owns 3,082,234 shares of the energy company's stock valued at $54,778,000 after purchasing an additional 1,188,092 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Sunrun by 132.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company's stock valued at $48,777,000 after purchasing an additional 1,609,803 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Sunrun during the third quarter worth approximately $40,193,000. 91.69% of the stock is currently owned by institutional investors.

Insider Activity at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 127,673 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $1,691,667.25. Following the transaction, the executive owned 707,126 shares in the company, valued at $9,369,419.50. This trade represents a 15.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 132,953 shares of Sunrun stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $13.25, for a total transaction of $1,761,627.25. Following the completion of the transaction, the chief financial officer directly owned 432,157 shares in the company, valued at approximately $5,726,080.25. This represents a 23.53% 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. Insiders have sold a total of 879,894 shares of company stock worth $13,017,496 in the last 90 days. Insiders own 3.37% of the company's stock.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $12.74 on Monday. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 7.45 and a beta of 2.37. Sunrun Inc. has a 1 year low of $5.38 and a 1 year high of $22.44. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 3.38. The business has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $17.29.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.46. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $610.29 million. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The business's quarterly revenue was up 123.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. As a group, sell-side analysts predict that Sunrun Inc. will post 0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RUN has been the topic of several recent research reports. Mizuho decreased their price target on shares of Sunrun from $25.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, March 2nd. JPMorgan Chase & Co. reduced their price objective on Sunrun from $25.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, April 16th. Loop Capital set a $12.00 target price on Sunrun in a research report on Tuesday, March 3rd. Glj Research reaffirmed a "sell" rating and set a $4.63 target price on shares of Sunrun in a report on Thursday, April 16th. Finally, UBS Group decreased their price target on Sunrun from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, March 10th. Twelve equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sunrun presently has a consensus rating of "Hold" and an average price target of $18.63.

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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