Nuveen LLC Acquires New Position in Sunrun Inc. $RUN

Nuveen LLC acquired a new stake in Sunrun Inc. (NASDAQ:RUN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 897,424 shares of the energy company’s stock, valued at approximately $5,259,000. Nuveen LLC owned 0.39% of Sunrun at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Apollon Wealth Management LLC purchased a new position in Sunrun during the first quarter worth about $60,000. US Bancorp DE boosted its stake in Sunrun by 107.6% during the first quarter. US Bancorp DE now owns 10,307 shares of the energy company’s stock worth $60,000 after buying an additional 5,342 shares during the period. Alterna Wealth Management Inc. boosted its stake in Sunrun by 16.6% during the first quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company’s stock worth $71,000 after buying an additional 1,720 shares during the period. GAMMA Investing LLC boosted its stake in Sunrun by 14.7% during the first quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company’s stock worth $72,000 after buying an additional 1,571 shares during the period. Finally, 49 Wealth Management LLC boosted its stake in Sunrun by 21.1% during the first quarter. 49 Wealth Management LLC now owns 14,759 shares of the energy company’s stock worth $86,000 after buying an additional 2,567 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In related news, insider Jeanna Steele sold 17,417 shares of Sunrun stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $16.25, for a total value of $283,026.25. Following the completion of the transaction, the insider owned 422,203 shares in the company, valued at $6,860,798.75. The trade was a 3.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Ferber sold 10,927 shares of Sunrun stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $11.24, for a total transaction of $122,819.48. Following the completion of the transaction, the director owned 54,947 shares of the company’s stock, valued at $617,604.28. This represents a 16.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,283 shares of company stock valued at $836,110 over the last ninety days. 3.37% of the stock is currently owned by corporate insiders.

Sunrun Stock Up 1.1%

Shares of RUN opened at $16.38 on Tuesday. The stock has a market capitalization of $3.78 billion, a PE ratio of -1.41 and a beta of 2.37. Sunrun Inc. has a 1 year low of $5.38 and a 1 year high of $22.26. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. The company’s 50-day simple moving average is $10.43 and its 200-day simple moving average is $8.64.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $1.25. The business had revenue of $569.34 million for the quarter, compared to analysts’ expectations of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. Analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on RUN shares. Mizuho increased their target price on shares of Sunrun from $13.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Susquehanna increased their target price on shares of Sunrun from $12.00 to $13.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. TD Cowen increased their target price on shares of Sunrun from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. BMO Capital Markets increased their target price on shares of Sunrun from $8.00 to $10.00 and gave the stock an “underperform” rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company increased their target price on shares of Sunrun from $8.00 to $14.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and a consensus price target of $14.63.

Sunrun Profile

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.