Bank of New York Mellon Corp Grows Position in Sunrun Inc. (NASDAQ:RUN)

Bank of New York Mellon Corp raised its position in Sunrun Inc. (NASDAQ:RUN – Get Rating) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,011,417 shares of the energy company’s stock after purchasing an additional 77,769 shares during the quarter. Bank of New York Mellon Corp owned 0.94% of Sunrun worth $55,496,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RUN. Nisa Investment Advisors LLC raised its holdings in shares of Sunrun by 64.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,149 shares of the energy company’s stock valued at $28,000 after buying an additional 449 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Sunrun during the 2nd quarter valued at approximately $31,000. Salem Investment Counselors Inc. grew its stake in Sunrun by 3,750.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock valued at $47,000 after purchasing an additional 1,500 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Sunrun by 150.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,383 shares of the energy company’s stock valued at $66,000 after purchasing an additional 1,432 shares in the last quarter. Finally, SG3 Management LLC acquired a new stake in Sunrun during the 3rd quarter valued at approximately $69,000. 86.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RUN has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Sunrun from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Scotiabank assumed coverage on Sunrun in a research report on Thursday, March 2nd. They issued a “sector outperform” rating and a $40.00 target price for the company. Citigroup assumed coverage on Sunrun in a research report on Thursday. They issued a “neutral” rating and a $27.00 target price for the company. BMO Capital Markets decreased their target price on Sunrun from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, February 23rd. Finally, Barclays lowered Sunrun from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $44.00 to $35.00 in a research report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Sunrun currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.89.

Sunrun Stock Down 12.3 %

Shares of Sunrun stock opened at $20.73 on Friday. The business’s fifty day moving average price is $24.86 and its two-hundred day moving average price is $27.49. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.82 and a quick ratio of 1.14. The company has a market capitalization of $4.44 billion, a P/E ratio of 26.92 and a beta of 2.30. Sunrun Inc. has a 1-year low of $16.80 and a 1-year high of $39.13.

Sunrun (NASDAQ:RUN – Get Rating) last announced its earnings results on Wednesday, February 22nd. The energy company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.26. Sunrun had a return on equity of 2.37% and a net margin of 7.47%. The firm had revenue of $609.20 million for the quarter, compared to the consensus estimate of $588.89 million. During the same quarter in the previous year, the business earned ($0.11) EPS. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. As a group, research analysts forecast that Sunrun Inc. will post -0.18 EPS for the current year.

Insider Transactions at Sunrun

In other news, insider Edward Harris Fenster sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $24.92, for a total value of $2,492,000.00. Following the sale, the insider now owns 1,311,406 shares of the company’s stock, valued at approximately $32,680,237.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Edward Harris Fenster sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $24.92, for a total transaction of $2,492,000.00. Following the sale, the insider now directly owns 1,311,406 shares of the company’s stock, valued at $32,680,237.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 9,839 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $25.51, for a total value of $250,992.89. Following the sale, the chief financial officer now directly owns 178,288 shares in the company, valued at $4,548,126.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 347,804 shares of company stock valued at $9,014,572. Corporate insiders own 4.29% of the company’s stock.

Sunrun Company Profile

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Sunrun, Inc engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and installs solar energy systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships, and strategic partnerships.