Sunrun Inc. (RUN) Position Boosted by Alliancebernstein L.P.
Alliancebernstein L.P. lifted its holdings in Sunrun Inc. (NASDAQ:RUN) by 26.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,700 shares of the energy company’s stock after purchasing an additional 12,400 shares during the period. Alliancebernstein L.P. owned about 0.06% of Sunrun worth $425,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Sunrun by 6.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 228,538 shares of the energy company’s stock valued at $1,235,000 after purchasing an additional 13,338 shares in the last quarter. CAPROCK Group Inc. purchased a new stake in Sunrun during the 2nd quarter worth approximately $262,000. JPMorgan Chase & Co. increased its stake in Sunrun by 16,313.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 142,633 shares of the energy company’s stock worth $1,016,000 after buying an additional 141,764 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Sunrun by 4.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 669,778 shares of the energy company’s stock worth $4,769,000 after buying an additional 28,303 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Sunrun by 11.1% during the 1st quarter. Bank of New York Mellon Corp now owns 377,406 shares of the energy company’s stock worth $2,038,000 after buying an additional 37,857 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.
Several equities research analysts have commented on RUN shares. Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Wednesday, July 12th. BidaskClub lowered Sunrun from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. ValuEngine lowered Sunrun from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Barclays PLC boosted their price objective on Sunrun from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Finally, Bank of America Corporation reiterated a “neutral” rating and set a $8.00 price objective (up from $7.75) on shares of Sunrun in a research note on Thursday, August 10th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $7.88.
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Shares of Sunrun Inc. (RUN) opened at $5.65 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.71 and a quick ratio of 0.61. The stock has a market capitalization of $600.36, a P/E ratio of 7.24, a PEG ratio of 0.42 and a beta of -0.68. Sunrun Inc. has a 52-week low of $4.15 and a 52-week high of $7.78.
Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Monday, August 7th. The energy company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $137.85 million during the quarter, compared to analyst estimates of $143.35 million. Sunrun had a return on equity of 8.76% and a net margin of 17.65%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. sell-side analysts predict that Sunrun Inc. will post 0.63 EPS for the current fiscal year.
In related news, Chairman Edward Harris Fenster sold 115,094 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $6.82, for a total value of $784,941.08. Following the transaction, the chairman now directly owns 2,371,439 shares in the company, valued at $16,173,213.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Vassallo sold 33,576 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $7.16, for a total value of $240,404.16. The disclosure for this sale can be found here. 24.13% of the stock is owned by corporate insiders.
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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