The Manufacturers Life Insurance Company Acquires 89,805 Shares of Sunrun Inc. (NASDAQ:RUN)

The Manufacturers Life Insurance Company lifted its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 63.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,110 shares of the energy company’s stock after acquiring an additional 89,805 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of Sunrun worth $2,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RUN. BNP Paribas bought a new position in Sunrun in the 1st quarter worth $37,000. Duncker Streett & Co. Inc. purchased a new position in shares of Sunrun during the second quarter valued at about $36,000. CWM LLC raised its stake in Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after buying an additional 3,014 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Sunrun in the second quarter worth about $45,000. Finally, Headlands Technologies LLC purchased a new stake in Sunrun in the first quarter worth about $53,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RUN. BMO Capital Markets increased their target price on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. The Goldman Sachs Group restated a “buy” rating and set a $20.00 target price on shares of Sunrun in a report on Wednesday, September 25th. Barclays increased their price target on shares of Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and an average target price of $22.39.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 2,148 shares of Sunrun stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total value of $40,360.92. Following the completion of the sale, the chief executive officer now owns 579,193 shares of the company’s stock, valued at approximately $10,883,036.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Jeanna Steele sold 24,161 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total value of $464,857.64. Following the transaction, the insider now owns 310,617 shares of the company’s stock, valued at approximately $5,976,271.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mary Powell sold 2,148 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total transaction of $40,360.92. Following the sale, the chief executive officer now owns 579,193 shares of the company’s stock, valued at $10,883,036.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 180,001 shares of company stock worth $3,336,845 over the last quarter. Company insiders own 3.76% of the company’s stock.

Sunrun Stock Down 1.5 %

RUN stock opened at $16.39 on Wednesday. The stock has a market capitalization of $3.63 billion, a P/E ratio of -2.46 and a beta of 2.58. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. Sunrun Inc. has a 1-year low of $8.43 and a 1-year high of $22.26. The business has a fifty day moving average price of $18.71 and a 200-day moving average price of $15.00.

Sunrun (NASDAQ:RUN) last issued its 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 business had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. Sunrun’s revenue was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS. Equities analysts forecast that Sunrun Inc. will post -0.16 earnings per share for the current fiscal year.

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.