PGGM Investments Buys 1,249,683 Shares of Sunrun Inc. $RUN

PGGM Investments lifted its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 17.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,256,941 shares of the energy company’s stock after buying an additional 1,249,683 shares during the period. Sunrun makes up about 2.3% of PGGM Investments’ portfolio, making the stock its 12th largest position. PGGM Investments’ holdings in Sunrun were worth $142,763,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Sunrun by 3.5% during the 3rd quarter. GAMMA Investing LLC now owns 17,971 shares of the energy company’s stock valued at $311,000 after acquiring an additional 607 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Sunrun by 6.3% during the second quarter. Osaic Holdings Inc. now owns 22,386 shares of the energy company’s stock worth $183,000 after purchasing an additional 1,332 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Sunrun by 12.0% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,497 shares of the energy company’s stock worth $110,000 after purchasing an additional 1,442 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Sunrun by 0.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 268,167 shares of the energy company’s stock valued at $2,195,000 after buying an additional 1,586 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in shares of Sunrun by 3.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 67,148 shares of the energy company’s stock worth $549,000 after buying an additional 2,071 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CRO Paul S. Dickson sold 6,119 shares of Sunrun stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total value of $108,918.20. Following the completion of the transaction, the executive directly owned 639,110 shares in the company, valued at approximately $11,376,158. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward Harris Fenster sold 133,256 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $18.11, for a total value of $2,413,266.16. Following the sale, the director owned 1,474,926 shares in the company, valued at approximately $26,710,909.86. The trade was a 8.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 354,956 shares of company stock worth $6,725,832 in the last three months. Insiders own 3.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RUN. Oppenheimer increased their price target on Sunrun from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Morgan Stanley raised their target price on Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Raymond James Financial started coverage on shares of Sunrun in a report on Monday. They issued a “market perform” rating on the stock. Susquehanna increased their price target on shares of Sunrun from $13.00 to $23.00 and gave the company a “positive” rating in a research report on Monday, October 13th. Finally, Zacks Research lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.70.

Sunrun Trading Down 0.9%

Shares of Sunrun stock opened at $18.26 on Friday. The stock has a market capitalization of $4.24 billion, a P/E ratio of -1.63 and a beta of 2.35. Sunrun Inc. has a 52-week low of $5.38 and a 52-week high of $22.44. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.06 and a current ratio of 1.46. The stock’s 50-day simple moving average is $18.59 and its 200 day simple moving average is $16.39.

Sunrun (NASDAQ:RUN) last posted its earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. Sunrun had a negative net margin of 106.50% and a positive return on equity of 19.34%. The firm had revenue of $724.56 million during the quarter, compared to the consensus estimate of $601.15 million. During the same quarter last year, the company earned ($0.37) earnings per share. The company’s revenue was up 34.9% on a year-over-year basis. As a group, research analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current year.

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.