Lazard Asset Management LLC Makes New Investment in Sunrun Inc. $RUN

Lazard Asset Management LLC purchased a new position in Sunrun Inc. (NASDAQ:RUN) in the first quarter, HoldingsChannel.com reports. The firm purchased 166,664 shares of the energy company’s stock, valued at approximately $2,260,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of Sunrun by 156.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after purchasing an additional 885 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Sunrun during the fourth quarter worth $27,000. Hantz Financial Services Inc. boosted its holdings in Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after purchasing an additional 564 shares during the period. Kestra Advisory Services LLC bought a new stake in Sunrun during the fourth quarter valued at $30,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Sunrun by 49.2% during the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock worth $31,000 after purchasing an additional 558 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RUN has been the subject of several research reports. Citigroup decreased their price target on shares of Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. UBS Group cut their target price on shares of Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $18.00 target price on shares of Sunrun in a report on Thursday, May 7th. Wall Street Zen lowered Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Sunrun in a research report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.81.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $9.81 on Monday. The firm’s 50 day moving average is $12.78 and its two-hundred day moving average is $14.38. The firm has a market capitalization of $2.34 billion, a P/E ratio of 4.61 and a beta of 2.36. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44. Sunrun Inc. has a 52 week low of $9.01 and a 52 week high of $22.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The business’s revenue was up 43.2% on a year-over-year basis. Analysts anticipate that Sunrun Inc. will post 1.01 earnings per share for the current year.

Insider Activity

In other news, CEO Mary Powell sold 23,985 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $316,362.15. Following the completion of the transaction, the chief executive officer owned 1,111,535 shares of the company’s stock, valued at approximately $14,661,146.65. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 15,613 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.18, for a total value of $205,779.34. Following the transaction, the executive directly owned 839,539 shares in the company, valued at $11,065,124.02. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 173,045 shares of company stock worth $2,436,835 over the last ninety days. 3.55% of the stock is currently owned by company insiders.

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.