Sunrun Inc. (NASDAQ:RUN) Shares Purchased by Principal Financial Group Inc.

Defense World · Nov 22, 2022 20:31

Principal Financial Group Inc. raised its holdings in shares of Sunrun Inc. (NASDAQ:RUN – Get Rating) by 16.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 826,888 shares of the energy company's stock after buying an additional 119,246 shares during the period. Principal Financial Group Inc. owned about 0.39% of Sunrun worth $19,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Sunrun by 0.3% during the first quarter. Vanguard Group Inc. now owns 17,996,518 shares of the energy company's stock worth $546,554,000 after purchasing an additional 55,863 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Sunrun by 0.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,059,018 shares of the energy company's stock worth $188,259,000 after purchasing an additional 36,369 shares in the last quarter. Phoenix Holdings Ltd. raised its holdings in Sunrun by 23.6% in the first quarter. Phoenix Holdings Ltd. now owns 3,749,077 shares of the energy company's stock valued at $113,901,000 after acquiring an additional 715,830 shares in the last quarter. DnB Asset Management AS raised its holdings in Sunrun by 17.9% in the second quarter. DnB Asset Management AS now owns 2,759,511 shares of the energy company's stock valued at $64,462,000 after acquiring an additional 418,761 shares in the last quarter. Finally, Mirova US LLC raised its holdings in Sunrun by 5.8% in the second quarter. Mirova US LLC now owns 2,689,480 shares of the energy company's stock valued at $62,818,000 after acquiring an additional 146,944 shares in the last quarter. 90.85% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, Director Lynn Michelle Jurich sold 75,000 shares of the company's stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $24.91, for a total value of $1,868,250.00. Following the transaction, the director now owns 1,449,459 shares in the company, valued at approximately $36,106,023.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lynn Michelle Jurich sold 75,000 shares of the company's stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $24.91, for a total value of $1,868,250.00. Following the transaction, the director now owns 1,449,459 shares in the company, valued at approximately $36,106,023.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward Harris Fenster sold 6,172 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $34.27, for a total value of $211,514.44. Following the completion of the transaction, the insider now owns 1,578,012 shares in the company, valued at approximately $54,078,471.24. The disclosure for this sale can be found here. Insiders have sold 243,327 shares of company stock worth $7,313,106 in the last 90 days. Company insiders own 4.29% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on RUN shares. Royal Bank of Canada cut their price target on shares of Sunrun from $48.00 to $42.00 and set an "outperform" rating on the stock in a report on Friday, November 11th. Barclays initiated coverage on shares of Sunrun in a report on Friday, August 5th. They issued an "overweight" rating and a $46.00 price target on the stock. BMO Capital Markets lowered their target price on shares of Sunrun from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, November 3rd. JPMorgan Chase & Co. lowered their price target on shares of Sunrun from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, November 3rd. Finally, Wolfe Research lowered shares of Sunrun from an "outperform" rating to a "peer perform" rating in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.39.

Sunrun Price Performance

RUN stock opened at $30.46 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.19 and a debt-to-equity ratio of 1.09. Sunrun Inc. has a one year low of $16.80 and a one year high of $56.96. The firm has a market capitalization of $6.49 billion, a PE ratio of 105.04 and a beta of 2.10. The firm has a 50-day moving average of $27.33 and a two-hundred day moving average of $27.44.

Sunrun (NASDAQ:RUN – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The energy company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.97. The company had revenue of $631.91 million during the quarter, compared to analyst estimates of $542.20 million. Sunrun had a net margin of 3.35% and a return on equity of 1.23%. On average, analysts forecast that Sunrun Inc. will post 0.39 earnings per share for the current year.

About Sunrun

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Sunrun, Inc engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and installs solar energy systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships, and strategic partnerships.

Sunrun Inc. (NASDAQ:RUN) Shares Purchased by Principal Financial Group Inc.

Insider Activity

Analysts Set New Price Targets

Sunrun Price Performance

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