Oregon Public Employees Retirement Fund cut its position in shares of Sunrun Inc (NASDAQ:RUN) by 34.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,455 shares of the energy company’s stock after selling 16,900 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Sunrun were worth $620,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in Sunrun by 1.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 118,645 shares of the energy company’s stock worth $1,198,000 after purchasing an additional 1,385 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in Sunrun by 12.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 13,858 shares of the energy company’s stock worth $140,000 after purchasing an additional 1,550 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Sunrun by 1.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 129,249 shares of the energy company’s stock worth $1,305,000 after purchasing an additional 1,910 shares in the last quarter. Swiss National Bank increased its stake in Sunrun by 1.7% in the 1st quarter. Swiss National Bank now owns 148,850 shares of the energy company’s stock worth $1,503,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Advisor Group Inc. increased its stake in Sunrun by 55.8% in the 4th quarter. Advisor Group Inc. now owns 7,509 shares of the energy company’s stock worth $104,000 after purchasing an additional 2,690 shares in the last quarter. Hedge funds and other institutional investors own 90.91% of the company’s stock.
In related news, COO Christopher Dawson sold 5,008 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $14.59, for a total value of $73,066.72. Following the completion of the sale, the chief operating officer now directly owns 257,437 shares in the company, valued at approximately $3,756,005.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Edward Harris Fenster sold 10,382 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $14.63, for a total value of $151,888.66. Following the completion of the sale, the chairman now owns 1,785,263 shares of the company’s stock, valued at $26,118,397.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 836,738 shares of company stock valued at $21,714,747. 8.55% of the stock is owned by corporate insiders.
Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.27). The firm had revenue of $210.70 million for the quarter, compared to analyst estimates of $195.24 million. Sunrun had a net margin of 1.40% and a return on equity of 0.98%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. As a group, equities research analysts predict that Sunrun Inc will post 0.18 earnings per share for the current year.
A number of equities analysts recently weighed in on the company. JMP Securities lifted their price target on Sunrun from $19.00 to $31.00 in a research note on Monday, July 6th. Credit Suisse Group lifted their price target on Sunrun from $18.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Barclays raised their price objective on Sunrun from $23.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. restated a “buy” rating and set a $40.00 price objective on shares of Sunrun in a research report on Tuesday, July 21st. Finally, Zacks Investment Research upgraded Sunrun from a “sell” rating to a “hold” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $30.56.
Sunrun Company Profile
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.
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