Healthcare of Ontario Pension Plan Trust Fund Trims Stock Position in Sunrun Inc. (NASDAQ:RUN)

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 10.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 365,897 shares of the energy company’s stock after selling 43,335 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.17% of Sunrun worth $7,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. raised its holdings in shares of Sunrun by 3,750.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock worth $47,000 after purchasing an additional 1,500 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Sunrun by 40.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,075 shares of the energy company’s stock worth $62,000 after purchasing an additional 879 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of Sunrun in the fourth quarter valued at about $72,000. C M Bidwell & Associates Ltd. grew its stake in shares of Sunrun by 49.5% in the first quarter. C M Bidwell & Associates Ltd. now owns 5,049 shares of the energy company’s stock valued at $102,000 after buying an additional 1,672 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Sunrun by 46.9% in the first quarter. Tower Research Capital LLC TRC now owns 6,321 shares of the energy company’s stock valued at $127,000 after buying an additional 2,017 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Danny Abajian sold 2,030 shares of Sunrun stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $15.15, for a total value of $30,754.50. Following the transaction, the chief financial officer now directly owns 214,943 shares in the company, valued at approximately $3,256,386.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Danny Abajian sold 2,030 shares of Sunrun stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $15.15, for a total transaction of $30,754.50. Following the transaction, the chief financial officer now owns 214,943 shares in the company, valued at $3,256,386.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Paul S. Dickson sold 2,476 shares of Sunrun stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total value of $37,511.40. Following the transaction, the executive now owns 310,185 shares in the company, valued at approximately $4,699,302.75. The disclosure for this sale can be found here. Insiders have sold 98,702 shares of company stock worth $1,895,123 in the last three months. 3.76% of the stock is currently owned by insiders.

Sunrun Stock Down 3.4 %

Shares of Sunrun stock opened at $13.99 on Monday. The business’s fifty day moving average price is $17.30 and its two-hundred day moving average price is $18.57. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.47 and a quick ratio of 0.91. The company has a market capitalization of $3.04 billion, a P/E ratio of 36.82 and a beta of 2.32. Sunrun Inc. has a 1-year low of $13.30 and a 1-year high of $39.13.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.59. Sunrun had a return on equity of 1.18% and a net margin of 3.66%. The company had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $627.73 million. During the same period last year, the firm earned ($0.06) EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts forecast that Sunrun Inc. will post -0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RUN. Piper Sandler increased their target price on Sunrun from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Janney Montgomery Scott upgraded Sunrun from a “neutral” rating to a “buy” rating in a research note on Thursday, August 3rd. JPMorgan Chase & Co. lowered their target price on Sunrun from $47.00 to $38.00 in a research note on Wednesday, July 19th. Barclays lowered their target price on Sunrun from $31.00 to $27.00 in a research note on Thursday, July 13th. Finally, Citigroup upgraded Sunrun from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $25.00 to $21.00 in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.75.

Sunrun Company Profile

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.