Northern Trust Corp Has $16.20 Million Stock Holdings in Sunrun Inc. $RUN

Key Points

• Northern Trust Corp has increased its stake in Sunrun Inc. by 17.5%, acquiring an additional 410,800 shares, bringing its total ownership to approximately 2.76 million shares valued at $16.2 million.
• Sunrun reported a quarterly earnings per share (EPS) of $1.07, significantly exceeding expectations, and had revenue of $569.34 million for the quarter.
• Analysts have a favorable outlook on Sunrun, with price targets increasing; TD Cowen raised its target from $13.00 to $14.00 and JPMorgan increased theirs from $16.00 to $20.00.

Northern Trust Corp boosted its stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 17.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,764,452 shares of the energy company's stock after purchasing an additional 410,800 shares during the period. Northern Trust Corp owned 1.21% of Sunrun worth $16,200,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Greenvale Capital LLP boosted its position in Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock valued at $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Sylebra Capital LLC boosted its position in Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock valued at $61,819,000 after purchasing an additional 3,699,405 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in Sunrun by 25.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,500,000 shares of the energy company's stock valued at $14,650,000 after purchasing an additional 500,000 shares during the last quarter. Deutsche Bank AG boosted its position in Sunrun by 28.5% during the fourth quarter. Deutsche Bank AG now owns 1,662,491 shares of the energy company's stock valued at $15,378,000 after purchasing an additional 368,963 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Sunrun by 40.9% during the first quarter. Handelsbanken Fonder AB now owns 1,338,168 shares of the energy company's stock valued at $7,842,000 after purchasing an additional 388,523 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RUN. TD Cowen raised their price objective on Sunrun from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Glj Research raised Sunrun from a "sell" rating to a "hold" rating in a research report on Friday, August 15th. BNP Paribas Exane raised Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Monday, July 7th. UBS Group raised their price objective on Sunrun from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on Sunrun from $16.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $14.63.

Insider Activity

In other Sunrun news, CFO Danny Abajian sold 8,909 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.80, for a total transaction of $96,217.20. Following the transaction, the chief financial officer owned 446,797 shares in the company, valued at $4,825,407.60. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Ferber sold 10,927 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $11.24, for a total value of $122,819.48. Following the transaction, the director owned 54,947 shares in the company, valued at approximately $617,604.28. This trade represents a 16.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,314 shares of company stock worth $910,283. 3.37% of the stock is currently owned by insiders.

Sunrun Price Performance

Sunrun stock traded up $1.75 during mid-day trading on Friday, reaching $18.18. 17,570,626 shares of the company were exchanged, compared to its average volume of 16,930,023. The company has a fifty day simple moving average of $11.96 and a 200-day simple moving average of $9.06. Sunrun Inc. has a 12 month low of $5.38 and a 12 month high of $21.77. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The firm has a market cap of $4.19 billion, a PE ratio of -1.57 and a beta of 2.21.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $569.34 million for the quarter, compared to analyst estimates of $555.42 million. During the same quarter last year, the company earned $0.55 EPS. The company's revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Sunrun Profile

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.