Vanguard Group Inc. Purchases 176,861 Shares of Sunrun Inc. (NASDAQ:RUN)

Vanguard Group Inc. boosted its position in Sunrun Inc. (NASDAQ:RUN) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,581,958 shares of the energy company’s stock after acquiring an additional 176,861 shares during the quarter. Vanguard Group Inc. owned 8.92% of Sunrun worth $384,394,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after buying an additional 764 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Sunrun by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock worth $5,340,000 after purchasing an additional 833 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Sunrun by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock worth $1,837,000 after purchasing an additional 910 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of Sunrun by 41.9% during the fourth quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock worth $62,000 after purchasing an additional 938 shares during the period. Finally, Granite Bay Wealth Management LLC raised its stake in Sunrun by 1.6% during the fourth quarter. Granite Bay Wealth Management LLC now owns 71,370 shares of the energy company’s stock worth $1,401,000 after buying an additional 1,125 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Sunrun Stock Up 4.5 %

RUN opened at $13.27 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.31 and a debt-to-equity ratio of 1.84. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -1.99 and a beta of 2.65. Sunrun Inc. has a twelve month low of $8.43 and a twelve month high of $23.85. The company’s 50-day moving average price is $12.45 and its two-hundred day moving average price is $13.61.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $458.20 million for the quarter, compared to analysts’ expectations of $471.38 million. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The company’s quarterly revenue was down 22.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.12) earnings per share. As a group, equities analysts expect that Sunrun Inc. will post -1.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RUN shares. Jefferies Financial Group lowered their target price on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Royal Bank of Canada lowered their target price on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Mizuho lowered their target price on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Morgan Stanley lifted their price target on shares of Sunrun from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Finally, Susquehanna decreased their price target on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating for the company in a research note on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and a consensus price target of $21.47.

Insider Activity at Sunrun

In related news, CFO Danny Abajian sold 17,440 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $12.07, for a total transaction of $210,500.80. Following the sale, the chief financial officer now directly owns 163,734 shares in the company, valued at approximately $1,976,269.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Danny Abajian sold 17,440 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $12.07, for a total transaction of $210,500.80. Following the sale, the chief financial officer now owns 163,734 shares of the company’s stock, valued at approximately $1,976,269.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.11, for a total transaction of $605,500.00. Following the sale, the director now directly owns 1,344,383 shares in the company, valued at approximately $16,280,478.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 427,143 shares of company stock worth $5,502,579. 3.76% of the stock is owned by corporate insiders.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.