PGGM Investments Has $142.76 Million Stake in Sunrun Inc. $RUN

PGGM Investments raised its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 17.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,256,941 shares of the energy company’s stock after purchasing an additional 1,249,683 shares during the period. Sunrun accounts for approximately 2.3% of PGGM Investments’ investment portfolio, making the stock its 12th biggest position. PGGM Investments owned approximately 3.58% of Sunrun worth $142,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Maple Rock Capital Partners Inc. increased its stake in shares of Sunrun by 95.6% in the second quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock valued at $66,525,000 after buying an additional 3,974,464 shares during the period. Robeco Schweiz AG bought a new stake in Sunrun in the third quarter valued at approximately $36,969,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Sunrun in the second quarter valued at approximately $9,668,000. HRT Financial LP acquired a new stake in Sunrun during the 2nd quarter valued at approximately $9,416,000. Finally, Goldman Sachs Group Inc. raised its holdings in Sunrun by 45.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock worth $13,518,000 after purchasing an additional 718,955 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on RUN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sunrun in a research note on Wednesday, October 8th. Raymond James Financial started coverage on shares of Sunrun in a report on Monday. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft set a $19.00 price target on shares of Sunrun in a research report on Wednesday, January 7th. BMO Capital Markets set a $19.00 price objective on Sunrun and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. Finally, UBS Group upped their target price on Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.70.

Insider Buying and Selling

In related news, Director Edward Harris Fenster sold 133,256 shares of Sunrun stock in a transaction on Friday, December 5th. The shares were sold at an average price of $18.11, for a total value of $2,413,266.16. Following the completion of the sale, the director owned 1,474,926 shares of the company’s stock, valued at approximately $26,710,909.86. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mary Powell sold 8,754 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total transaction of $155,821.20. Following the transaction, the chief executive officer owned 864,946 shares in the company, valued at approximately $15,396,038.80. The trade was a 1.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 354,956 shares of company stock worth $6,725,832 over the last quarter. Corporate insiders own 3.37% of the company’s stock.

Sunrun Stock Performance

Shares of RUN opened at $18.26 on Friday. Sunrun Inc. has a one year low of $5.38 and a one year high of $22.44. The company has a market cap of $4.24 billion, a PE ratio of -1.63 and a beta of 2.35. The stock has a 50-day moving average of $18.59 and a 200-day moving average of $16.39. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.46 and a quick ratio of 1.06.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $724.56 million for the quarter, compared to analyst estimates of $601.15 million. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.The company’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.37) earnings per share. On average, equities research analysts predict that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Sunrun Profile

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.