Nuveen LLC Purchases New Holdings in Sunrun Inc. $RUN

Key Points

• Nuveen LLC has acquired a new position in Sunrun Inc. by purchasing 897,424 shares valued at approximately $5.26 million, representing 0.39% of the company's total shares.
• Insider trades have been notable, with executive Jeanna Steele selling 17,417 shares, while the company reported an earnings per share of $1.07, significantly exceeding analyst expectations.
• Several analysts have raised their target prices for Sunrun, with Mizuho setting the highest at $21.00, indicating strong confidence in the stock's future performance.

Nuveen LLC purchased a new stake in Sunrun Inc. (NASDAQ:RUN - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 897,424 shares of the energy company's stock, valued at approximately $5,259,000. Nuveen LLC owned about 0.39% of Sunrun as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alyeska Investment Group L.P. increased its position in shares of Sunrun by 593.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after purchasing an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP increased its position in shares of Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Sylebra Capital LLC grew its position in shares of Sunrun by 124.0% during the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock valued at $61,819,000 after buying an additional 3,699,405 shares during the last quarter. Maple Rock Capital Partners Inc. grew its position in shares of Sunrun by 92.8% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 3,597,600 shares of the energy company's stock valued at $33,278,000 after buying an additional 1,732,000 shares during the last quarter. Finally, Soros Fund Management LLC grew its position in shares of Sunrun by 1,994.7% during the 4th quarter. Soros Fund Management LLC now owns 1,675,798 shares of the energy company's stock valued at $15,501,000 after buying an additional 1,595,798 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Insider Buying and Selling at Sunrun

In related news, CRO Paul S. Dickson sold 8,010 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $10.81, for a total transaction of $86,588.10. Following the completion of the sale, the executive directly owned 679,044 shares of the company's stock, valued at $7,340,465.64. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeanna Steele sold 7,077 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $16.75, for a total transaction of $118,539.75. Following the sale, the insider directly owned 415,126 shares of the company's stock, valued at approximately $6,953,360.50. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,360 shares of company stock valued at $954,649. Corporate insiders own 3.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RUN. JPMorgan Chase & Co. boosted their price objective on shares of Sunrun from $16.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. BNP Paribas Exane raised shares of 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. Susquehanna upped their target price on shares of Sunrun from $12.00 to $13.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Wells Fargo & Company upped their target price on shares of Sunrun from $8.00 to $14.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Cowen restated a "buy" rating on shares of Sunrun in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.63.

Sunrun Price Performance

Shares of Sunrun stock traded up $0.57 on Thursday, hitting $16.37. The company had a trading volume of 6,699,307 shares, compared to its average volume of 19,517,850. The business has a 50-day simple moving average of $11.04 and a 200-day simple moving average of $8.80. 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 company has a market cap of $3.78 billion, a PE ratio of -1.41 and a beta of 2.37. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $21.77.

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

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.