PGGM Investments Buys 5,325,332 Shares of Sunrun Inc. $RUN

Key Points

• PGGM Investments has significantly increased its stake in Sunrun Inc., acquiring an additional 5,325,332 shares and growing its ownership to 7,007,258 shares, which represents a 316.6% increase.
• Several analysts have raised their price targets for Sunrun, with Goldman Sachs increasing its target from $15.00 to $19.00 and maintaining a "buy" rating.
• Sunrun reported a quarterly earnings per share (EPS) of $1.07, exceeding analyst expectations and reflecting an 8.7% increase in revenue compared to the previous year.

PGGM Investments grew its stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 316.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,007,258 shares of the energy company's stock after acquiring an additional 5,325,332 shares during the period. PGGM Investments owned about 3.07% of Sunrun worth $57,319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Apollon Wealth Management LLC bought a new stake in shares of Sunrun during the first quarter valued at approximately $60,000. US Bancorp DE raised its stake in shares of Sunrun by 107.6% during the first quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock valued at $60,000 after acquiring an additional 5,342 shares in the last quarter. Signaturefd LLC raised its stake in shares of Sunrun by 436.4% during the second quarter. Signaturefd LLC now owns 7,805 shares of the energy company's stock valued at $64,000 after acquiring an additional 6,350 shares in the last quarter. PharVision Advisers LLC bought a new stake in shares of Sunrun during the first quarter valued at approximately $69,000. Finally, Alterna Wealth Management Inc. raised its stake in shares of Sunrun by 16.6% during the first quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock valued at $71,000 after acquiring an additional 1,720 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Sunrun from $15.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. KeyCorp raised shares of Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. Glj Research raised shares of Sunrun from a "sell" rating to a "hold" rating in a report on Friday, August 15th. UBS Group lifted their price objective on shares of Sunrun from $15.00 to $16.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada raised shares of Sunrun from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $12.00 to $16.00 in a report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Sunrun has a consensus rating of "Moderate Buy" and an average price target of $14.94.

Sunrun Price Performance

NASDAQ RUN opened at $17.29 on Wednesday. The firm's fifty day simple moving average is $14.37 and its two-hundred day simple moving average is $10.23. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70. Sunrun Inc. has a 12-month low of $5.38 and a 12-month high of $18.32. The firm has a market capitalization of $3.99 billion, a P/E ratio of -1.49 and a beta of 2.21.

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

Insider Activity

In other news, Director Alan Ferber sold 10,927 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $11.24, for a total transaction of $122,819.48. Following the sale, the director directly owned 54,947 shares of the company's stock, valued at $617,604.28. The trade was a 16.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Danny Abajian sold 2,180 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $16.93, for a total transaction of $36,907.40. Following the sale, the chief financial officer directly owned 435,479 shares in the company, valued at $7,372,659.47. This trade represents a 0.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,136 shares of company stock valued at $1,076,538. 3.37% of the stock is owned by corporate insiders.

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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