Principal Financial Group Inc. Grows Stock Position in Sunrun Inc. (NASDAQ:RUN)

Principal Financial Group Inc. grew its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,116,909 shares of the energy company's stock after purchasing an additional 29,227 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of Sunrun worth $6,545,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RUN. Alyeska Investment Group L.P. boosted its stake in shares of Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after buying an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP boosted its stake in shares of Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after buying 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 worth $61,819,000 after purchasing an additional 3,699,405 shares in the last quarter. Norges Bank purchased a new position in Sunrun during the fourth quarter worth approximately $31,022,000. Finally, Maple Rock Capital Partners Inc. boosted its position in Sunrun by 92.8% during the fourth quarter. Maple Rock Capital Partners Inc. now owns 3,597,600 shares of the energy company's stock worth $33,278,000 after purchasing an additional 1,732,000 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sunrun

In other news, CRO Paul S. Dickson sold 8,010 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.81, for a total transaction of $86,588.10. Following the completion of the transaction, the executive directly owned 679,044 shares in the company, valued at $7,340,465.64. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward Harris Fenster purchased 50,000 shares of the stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $10.87 per share, with a total value of $543,500.00. Following the completion of the transaction, the director owned 1,408,182 shares of the company's stock, valued at approximately $15,306,938.34. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 41,939 shares of company stock valued at $430,264. Corporate insiders own 3.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RUN shares. UBS Group lowered their price target on Sunrun from $17.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Truist Financial reiterated a "hold" rating and set a $6.00 price target (down previously from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Susquehanna lowered their price target on Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company lowered their price target on Sunrun from $10.00 to $8.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Finally, KeyCorp upgraded Sunrun from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.22.

Sunrun Trading Up 2.8%

RUN stock traded up $0.28 during midday trading on Friday, hitting $10.24. 11,807,733 shares of the company's stock were exchanged, compared to its average volume of 13,488,192. The business has a 50-day simple moving average of $8.95 and a two-hundred day simple moving average of $8.23. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. The stock has a market capitalization of $2.34 billion, a PE ratio of -0.84 and a beta of 2.60. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $22.26.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.42. Sunrun had a positive return on equity of 9.42% and a negative net margin of 129.97%. The company had revenue of $504.27 million during the quarter, compared to analysts' expectations of $487.29 million. During the same quarter last year, the firm earned ($0.40) earnings per share. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts predict 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.