Bank of New York Mellon Corp Has $2.04 Million Stake in Sunrun Inc. (RUN)
Bank of New York Mellon Corp increased its position in Sunrun Inc. (NASDAQ:RUN) by 11.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 377,406 shares of the energy company’s stock after buying an additional 37,857 shares during the period. Bank of New York Mellon Corp owned approximately 0.36% of Sunrun worth $2,038,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its stake in Sunrun by 12.3% in the fourth quarter. State Street Corp now owns 1,033,026 shares of the energy company’s stock worth $5,485,000 after buying an additional 113,016 shares in the last quarter. DnB Asset Management AS raised its stake in Sunrun by 8.4% in the first quarter. DnB Asset Management AS now owns 4,746,526 shares of the energy company’s stock worth $25,631,000 after buying an additional 367,911 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in Sunrun during the first quarter worth $653,000. Wells Fargo & Company MN raised its stake in Sunrun by 108.9% in the first quarter. Wells Fargo & Company MN now owns 281,450 shares of the energy company’s stock worth $1,519,000 after buying an additional 146,733 shares in the last quarter. Finally, Norges Bank bought a new stake in Sunrun during the fourth quarter worth $4,280,000. Institutional investors own 71.51% of the company’s stock.
Shares of Sunrun Inc. (RUN) opened at 7.25 on Friday. Sunrun Inc. has a one year low of $4.15 and a one year high of $7.35. The stock’s 50 day moving average price is $6.35 and its 200 day moving average price is $5.62. The stock has a market cap of $764.47 million, a price-to-earnings ratio of 8.45 and a beta of -0.72.
Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, May 10th. The energy company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.15. The business had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $117.13 million. Sunrun had a net margin of 19.88% and a return on equity of 10.42%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. Analysts forecast that Sunrun Inc. will post $1.14 earnings per share for the current year.
RUN has been the subject of a number of analyst reports. Zacks Investment Research lowered Sunrun from a “hold” rating to a “sell” rating in a report on Friday, May 12th. ValuEngine upgraded Sunrun from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) set a $10.00 target price on Sunrun and gave the stock a “buy” rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.29.
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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