Grantham Mayo Van Otterloo & Co. LLC Sells 4,391,430 Shares of Sunrun Inc. $RUN

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in Sunrun Inc. (NASDAQ:RUN) by 41.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,226,026 shares of the energy company’s stock after selling 4,391,430 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 2.68% of Sunrun worth $107,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Optiver Holding B.V. purchased a new stake in Sunrun during the 3rd quarter valued at about $31,000. Smartleaf Asset Management LLC raised its holdings in Sunrun by 181.0% in the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock worth $34,000 after buying an additional 2,660 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Sunrun by 87.1% in the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock worth $47,000 after buying an additional 2,700 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Sunrun during the third quarter valued at approximately $49,000. Finally, Focus Partners Wealth increased its position in shares of Sunrun by 21.2% during the first quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock valued at $74,000 after acquiring an additional 2,226 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Sunrun Stock Performance

Shares of RUN opened at $11.34 on Friday. The firm has a market capitalization of $2.66 billion, a P/E ratio of 6.63 and a beta of 2.43. The company has a debt-to-equity ratio of 3.38, a current ratio of 1.66 and a quick ratio of 1.27. Sunrun Inc. has a one year low of $5.38 and a one year high of $22.44. The business has a fifty day moving average of $18.30 and a 200 day moving average of $18.30.

Sunrun (NASDAQ:RUN) last announced its earnings results on Thursday, February 26th. The energy company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.46. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $610.29 million. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The business’s revenue for the quarter was up 123.5% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share. As a group, sell-side analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on RUN. Glj Research downgraded Sunrun from a “hold” rating to a “sell” rating and set a $6.73 target price on the stock. in a research note on Friday, February 27th. Mizuho dropped their price objective on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Loop Capital set a $12.00 price objective on Sunrun in a report on Tuesday. The Goldman Sachs Group boosted their target price on Sunrun from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings upgraded shares of Sunrun from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.84.

Insider Transactions at Sunrun

In other Sunrun news, Director Edward Harris Fenster sold 163,844 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $19.95, for a total transaction of $3,268,687.80. Following the completion of the sale, the director directly owned 1,578,895 shares of the company’s stock, valued at approximately $31,498,955.25. This represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary Powell sold 8,754 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 864,946 shares in the company, valued at $15,396,038.80. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 402,726 shares of company stock worth $7,359,546. 3.37% of the stock is currently owned by corporate insiders.

Sunrun Company 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.