Texas Permanent School Fund Corp Trims Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

Texas Permanent School Fund Corp cut its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 14.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,076 shares of the energy company’s stock after selling 27,245 shares during the period. Texas Permanent School Fund Corp owned 0.07% of Sunrun worth $1,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in Sunrun by 1.5% in the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock worth $538,000 after acquiring an additional 691 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Sunrun by 6.0% in the second quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock valued at $186,000 after purchasing an additional 895 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Sunrun by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock valued at $1,837,000 after buying an additional 910 shares in the last quarter. Spire Wealth Management boosted its position in shares of Sunrun by 18.7% in the 1st quarter. Spire Wealth Management now owns 6,405 shares of the energy company’s stock worth $84,000 after buying an additional 1,010 shares in the last quarter. Finally, &PARTNERS grew its stake in Sunrun by 1.6% in the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after acquiring an additional 1,019 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Price Performance

RUN opened at $20.31 on Wednesday. Sunrun Inc. has a 52-week low of $8.43 and a 52-week high of $22.26. The company has a 50 day moving average of $18.18 and a two-hundred day moving average of $14.22. The company has a market cap of $4.50 billion, a P/E ratio of -3.04 and a beta of 2.59. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. The firm had revenue of $523.87 million during the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The firm’s revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. On average, analysts expect that Sunrun Inc. will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RUN. Morgan Stanley lifted their target price on shares of Sunrun from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Barclays upped their target price on Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Truist Financial reaffirmed a “hold” rating and set a $18.00 price objective (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Sunrun to a “sell” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Sunrun currently has an average rating of “Moderate Buy” and an average price target of $22.98.

Insider Activity at Sunrun

In other Sunrun news, 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 value of $605,500.00. Following the completion of the transaction, the director now owns 1,344,383 shares in the company, valued at approximately $16,280,478.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $12.11, for a total value of $605,500.00. Following the transaction, the director now owns 1,344,383 shares in the company, valued at approximately $16,280,478.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeanna Steele sold 2,513 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $12.61, for a total value of $31,688.93. Following the sale, the insider now owns 312,774 shares of the company’s stock, valued at $3,944,080.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,675 shares of company stock worth $2,848,789. 3.76% of the stock is currently owned by company insiders.

Sunrun Profile

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.