Neuberger Berman Group LLC Has $2.08 Million Stake in Sunrun Inc. (RUN)
Neuberger Berman Group LLC raised its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 16.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 291,960 shares of the energy company’s stock after acquiring an additional 42,000 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.28% of Sunrun worth $2,079,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Great Lakes Advisors LLC acquired a new stake in shares of Sunrun in the 2nd quarter valued at about $1,336,000. Legal & General Group Plc raised its stake in Sunrun by 16.3% during the 2nd quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock valued at $141,000 after acquiring an additional 2,768 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Sunrun by 26.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 475,414 shares of the energy company’s stock valued at $3,384,000 after acquiring an additional 98,008 shares during the last quarter. Rhumbline Advisers raised its stake in Sunrun by 49.9% during the 2nd quarter. Rhumbline Advisers now owns 98,976 shares of the energy company’s stock valued at $705,000 after acquiring an additional 32,942 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Sunrun by 18.4% during the 2nd quarter. First Trust Advisors LP now owns 109,522 shares of the energy company’s stock valued at $780,000 after acquiring an additional 16,996 shares during the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on RUN shares. Goldman Sachs Group, Inc. (The) set a $10.00 price objective on Sunrun and gave the company a “buy” rating in a research note on Tuesday, June 20th. ValuEngine raised Sunrun from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised Sunrun from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Wednesday, July 12th. Barclays PLC raised their price objective on Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Finally, Bank of America Corporation reiterated a “neutral” rating and set a $8.00 target price (up previously from $7.75) on shares of Sunrun in a report on Thursday, August 10th. Three investment 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 presently has a consensus rating of “Buy” and a consensus target price of $9.33.
In related news, Chairman Edward Harris Fenster sold 115,094 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total value of $784,941.08. Following the completion of the transaction, the chairman now owns 2,371,439 shares of the company’s stock, valued at $16,173,213.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Vassallo sold 33,576 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $7.16, for a total transaction of $240,404.16. The disclosure for this sale can be found here. 24.13% of the stock is currently owned by corporate insiders.
Sunrun Inc. (RUN) opened at 6.72 on Friday. The firm has a 50-day moving average price of $6.85 and a 200-day moving average price of $6.27. Sunrun Inc. has a 52 week low of $4.15 and a 52 week high of $7.34. The firm has a market capitalization of $713.40 million, a P/E ratio of 8.63 and a beta of -0.64.
Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Monday, August 7th. The energy company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $137.85 million during the quarter, compared to analyst estimates of $143.35 million. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. Equities analysts forecast that Sunrun Inc. will post $1.01 EPS for the current year.
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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