Grantham Mayo Van Otterloo & Co. LLC Lowers Position in Sunrun Inc. $RUN

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 41.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,226,026 shares of the energy company’s stock after selling 4,391,430 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Sunrun were worth $107,648,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Optiver Holding B.V. bought a new position in shares of Sunrun during the 3rd quarter valued at approximately $31,000. Smartleaf Asset Management LLC lifted its holdings in Sunrun by 181.0% during the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after purchasing an additional 2,660 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Sunrun by 87.1% in the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock worth $47,000 after purchasing an additional 2,700 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Sunrun in the third quarter worth $49,000. Finally, Focus Partners Wealth increased its stake in shares of Sunrun by 21.2% in the first quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock worth $74,000 after purchasing an additional 2,226 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In other Sunrun news, Director Edward Harris Fenster sold 163,844 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $19.95, for a total transaction of $3,268,687.80. Following the completion of the transaction, the director owned 1,578,895 shares in the company, valued at $31,498,955.25. This trade represents a 9.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Danny Abajian sold 4,193 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $12.33, for a total value of $51,699.69. Following the sale, the chief financial officer directly owned 576,244 shares in the company, valued at $7,105,088.52. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 402,726 shares of company stock valued at $7,359,546 in the last ninety days. Company insiders own 3.37% of the company’s stock.

Sunrun Stock Performance

RUN opened at $11.34 on Friday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.27 and a current ratio of 1.66. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 6.63 and a beta of 2.43. The company has a fifty day moving average of $18.30 and a 200 day moving average of $18.30. Sunrun Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $22.44.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.46. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $610.29 million. Sunrun had a net margin of 15.22% and a return on equity of 11.72%. The business’s quarterly revenue was up 123.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. As a group, sell-side analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $19.00 price objective on shares of Sunrun in a research report on Wednesday, January 7th. Oppenheimer increased their price target on Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Mizuho decreased their price target on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Guggenheim raised Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Monday, November 10th. Finally, Weiss Ratings upgraded Sunrun from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sunrun has an average rating of “Moderate Buy” and a consensus target price of $19.84.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.