Legal & General Group Plc Invests $7.35 Million in Sunrun Inc. $RUN

Legal & General Group Plc purchased a new stake in shares of Sunrun Inc. (NASDAQ:RUN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 549,555 shares of the energy company’s stock, valued at approximately $7,353,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada raised its position in Sunrun by 5.1% in the 1st quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock worth $3,672,000 after purchasing an additional 30,175 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Sunrun by 47.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock valued at $192,000 after buying an additional 10,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Sunrun by 2.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock worth $1,397,000 after acquiring an additional 5,882 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Sunrun by 511.0% during the first quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock worth $158,000 after acquiring an additional 22,603 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Sunrun by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after acquiring an additional 718,955 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Up 7.0%

Shares of Sunrun stock opened at $8.96 on Thursday. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. Sunrun Inc. has a 52-week low of $8.22 and a 52-week high of $22.44. The firm has a market cap of $2.16 billion, a PE ratio of 6.05 and a beta of 2.37. The business’s 50 day simple moving average is $10.78 and its 200 day simple moving average is $12.83.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up 52.8% on a year-over-year basis. On average, analysts predict that Sunrun Inc. will post 1.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on RUN shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $17.00 price objective on shares of Sunrun in a research report on Friday, May 8th. Glj Research reaffirmed a “sell” rating and issued a $4.63 target price on shares of Sunrun in a research note on Monday, August 17th. UBS Group dropped their price target on shares of Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Mizuho set a $18.00 price objective on shares of Sunrun in a report on Thursday, August 6th. Finally, Weiss Ratings cut Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Sunrun currently has a consensus rating of “Hold” and an average price target of $16.81.

Insider Activity at Sunrun

In other news, CEO Mary Powell sold 23,985 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.18, for a total transaction of $205,779.34. Following the sale, 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. Over the last quarter, insiders have sold 173,045 shares of company stock worth $2,138,835. Insiders own 3.55% of the company’s stock.

About Sunrun

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.