Cerity Partners LLC acquired a new stake in shares of Sunrun Inc. (NASDAQ:RUN – Get Rating) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,804 shares of the energy company's stock, valued at approximately $229,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its holdings in shares of Sunrun by 1.0% in the second quarter. Envestnet Asset Management Inc. now owns 40,612 shares of the energy company's stock worth $949,000 after buying an additional 416 shares during the period. Securian Asset Management Inc. raised its holdings in shares of Sunrun by 3.1% in the second quarter. Securian Asset Management Inc. now owns 19,155 shares of the energy company's stock worth $447,000 after buying an additional 581 shares during the period. Resources Management Corp CT ADV raised its holdings in shares of Sunrun by 22.5% in the first quarter. Resources Management Corp CT ADV now owns 3,486 shares of the energy company's stock worth $106,000 after buying an additional 640 shares during the period. CWM LLC raised its holdings in shares of Sunrun by 92.0% in the second quarter. CWM LLC now owns 1,622 shares of the energy company's stock worth $38,000 after buying an additional 777 shares during the period. Finally, Tranquility Partners LLC raised its holdings in shares of Sunrun by 10.0% in the second quarter. Tranquility Partners LLC now owns 8,635 shares of the energy company's stock worth $202,000 after buying an additional 782 shares during the period. 90.85% of the stock is currently owned by hedge funds and other institutional investors.
Get Sunrun alerts:Sunrun Stock Performance
NASDAQ RUN opened at $30.96 on Wednesday. The stock has a 50-day simple moving average of $27.20 and a two-hundred day simple moving average of $27.50. The firm has a market capitalization of $6.60 billion, a P/E ratio of 106.76 and a beta of 2.10. Sunrun Inc. has a fifty-two week low of $16.80 and a fifty-two week high of $52.95. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.19 and a current ratio of 1.74.
Sunrun (NASDAQ:RUN – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The energy company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.97. Sunrun had a return on equity of 1.23% and a net margin of 3.35%. The business had revenue of $631.91 million during the quarter, compared to analyst estimates of $542.20 million. On average, equities analysts forecast that Sunrun Inc. will post 0.39 earnings per share for the current year.Insider Activity
In other news, Director Lynn Michelle Jurich sold 75,000 shares of the firm's stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $26.17, for a total transaction of $1,962,750.00. Following the sale, the director now directly owns 1,449,459 shares in the company, valued at approximately $37,932,342.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Edward Harris Fenster sold 6,172 shares of the firm's stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $34.27, for a total transaction of $211,514.44. Following the sale, the insider now directly owns 1,578,012 shares in the company, valued at approximately $54,078,471.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 75,000 shares of Sunrun stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $26.17, for a total value of $1,962,750.00. Following the completion of the sale, the director now owns 1,449,459 shares in the company, valued at $37,932,342.03. 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 ninety days. Company insiders own 4.29% of the company's stock.
Analyst Ratings Changes
Several brokerages recently issued reports on RUN. Deutsche Bank Aktiengesellschaft began coverage on Sunrun in a research note on Monday, November 14th. They issued a "buy" rating and a $36.00 price objective on the stock. StockNews.com raised Sunrun to a "sell" rating in a research note on Friday, November 4th. BMO Capital Markets dropped their price objective on Sunrun from $40.00 to $39.00 and set an "outperform" rating on the stock in a research note on Thursday, November 3rd. JPMorgan Chase & Co. dropped their price objective on Sunrun from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, November 3rd. Finally, Piper Sandler increased their price objective on Sunrun from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $44.39.
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.
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