Federated Hermes Inc. Trims Holdings in Sunrun Inc. (NASDAQ:RUN)

Federated Hermes Inc. cut its stake in Sunrun Inc. (NASDAQ:RUN) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,289 shares of the energy company’s stock after selling 1,333 shares during the period. Federated Hermes Inc.’s holdings in Sunrun were worth $339,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RUN. Fifth Third Bancorp lifted its holdings in shares of Sunrun by 76.9% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after buying an additional 764 shares during the period. Versant Capital Management Inc lifted its position in shares of Sunrun by 149.7% in the 4th quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock worth $37,000 after purchasing an additional 1,127 shares during the period. C M Bidwell & Associates Ltd. boosted its stake in shares of Sunrun by 1,483.9% during the third quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock valued at $30,000 after purchasing an additional 2,211 shares in the last quarter. NBC Securities Inc. purchased a new position in Sunrun during the third quarter valued at approximately $53,000. Finally, Nisa Investment Advisors LLC raised its stake in Sunrun by 1,968.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,550 shares of the energy company’s stock worth $89,000 after buying an additional 4,330 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 4,830 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total value of $58,539.60. Following the completion of the transaction, the director now directly owns 1,403,915 shares of the company’s stock, valued at approximately $17,015,449.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Sunrun news, CEO Mary Powell sold 5,424 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $65,738.88. Following the transaction, the chief executive officer now owns 411,628 shares of the company’s stock, valued at $4,988,931.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 4,830 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $58,539.60. Following the completion of the sale, the director now owns 1,403,915 shares of the company’s stock, valued at $17,015,449.80. The disclosure for this sale can be found here. Insiders have sold a total of 301,760 shares of company stock worth $3,615,990 over the last quarter. 3.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RUN has been the topic of several recent research reports. Susquehanna reaffirmed a “positive” rating and set a $25.00 target price on shares of Sunrun in a research report on Friday, April 5th. Royal Bank of Canada reduced their target price on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. The Goldman Sachs Group raised their price target on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Mizuho reduced their price objective on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Truist Financial reissued a “hold” rating and set a $14.00 target price (down previously from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and an average price target of $21.26.

Sunrun Stock Up 8.7 %

Shares of RUN opened at $11.90 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 1.68. The firm has a market cap of $2.64 billion, a P/E ratio of -1.61 and a beta of 2.50. The stock’s 50 day moving average is $11.35 and its two-hundred day moving average is $13.12. Sunrun Inc. has a 12 month low of $8.43 and a 12 month high of $23.85.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The company had revenue of $516.59 million during the quarter, compared to analyst estimates of $499.74 million. Analysts predict that Sunrun Inc. will post -1.69 earnings per share for the current fiscal year.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains 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.