Russell Investments Group Ltd. Acquires 144,113 Shares of Sunrun Inc. $RUN

Key Points

• Russell Investments Group Ltd. increased its stake in Sunrun Inc. by 33.6% in the first quarter, owning a total of 573,107 shares valued at approximately $3.36 million.
• Analysts have raised their price targets for Sunrun, with Royal Bank of Canada upgrading its rating to "outperform" and setting a new price target of $16.00.
• Sunrun reported quarterly earnings of $1.07 per share, significantly exceeding analyst expectations of a loss, while also achieving an 8.7% year-over-year revenue increase to $569.34 million.

Russell Investments Group Ltd. raised its holdings in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 33.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 573,107 shares of the energy company's stock after buying an additional 144,113 shares during the quarter. Russell Investments Group Ltd. owned about 0.25% of Sunrun worth $3,358,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RUN. LPL Financial LLC raised its stake in shares of Sunrun by 11.7% in the fourth quarter. LPL Financial LLC now owns 49,608 shares of the energy company's stock valued at $459,000 after purchasing an additional 5,189 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Sunrun during the fourth quarter worth $867,000. Guggenheim Capital LLC grew its holdings in shares of Sunrun by 6.8% during the fourth quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company's stock worth $253,000 after purchasing an additional 1,749 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Sunrun by 7.5% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 282,536 shares of the energy company's stock worth $2,619,000 after purchasing an additional 19,674 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Sunrun by 33.4% during the fourth quarter. First Trust Advisors LP now owns 1,100,694 shares of the energy company's stock worth $10,181,000 after purchasing an additional 275,338 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Cowen increased their target price on Sunrun from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Jefferies Financial Group upgraded Sunrun from an "underperform" rating to a "hold" rating and increased their target price for the stock from $5.00 to $11.00 in a report on Wednesday, July 9th. UBS Group raised their price target on Sunrun from $15.00 to $16.00 and gave the company a "buy" rating in a report on Friday, August 8th. BNP Paribas Exane upgraded Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price target on the stock in a report on Monday, July 7th. Finally, KeyCorp upgraded Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Sunrun currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.63.

Sunrun Stock Up 1.4%

Shares of NASDAQ RUN traded up $0.23 during mid-day trading on Tuesday, reaching $16.61. 11,105,614 shares of the company's stock were exchanged, compared to its average volume of 19,483,592. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -1.43 and a beta of 2.37. Sunrun Inc. has a twelve month low of $5.38 and a twelve month high of $21.77. The business has a fifty day simple moving average of $10.64 and a 200 day simple moving average of $8.69.

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, topping analysts' consensus estimates of ($0.18) by $1.25. The business had revenue of $569.34 million during the quarter, compared to the consensus estimate of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.Sunrun's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. As a group, equities analysts expect that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, Director Alan Ferber sold 10,927 shares of Sunrun stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $11.24, for a total transaction of $122,819.48. Following the completion of the sale, the director directly owned 54,947 shares of the company's stock, valued at approximately $617,604.28. This trade represents a 16.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mary Powell sold 11,509 shares of Sunrun stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $124,297.20. Following the sale, the chief executive officer directly owned 893,240 shares of the company's stock, valued at approximately $9,646,992. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,283 shares of company stock valued at $836,110. 3.37% of the stock is owned by insiders.

Sunrun Company 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.