Principal Financial Group Inc. Has $20.66 Million Position in Sunrun Inc. $RUN

Principal Financial Group Inc. raised its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 5.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,194,915 shares of the energy company’s stock after acquiring an additional 63,284 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of Sunrun worth $20,660,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Maple Rock Capital Partners Inc. lifted its holdings in Sunrun by 95.6% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock valued at $66,525,000 after purchasing an additional 3,974,464 shares during the last quarter. Robeco Schweiz AG bought a new stake in Sunrun during the third quarter worth about $36,969,000. PGGM Investments increased its holdings in shares of Sunrun by 17.8% during the third quarter. PGGM Investments now owns 8,256,941 shares of the energy company’s stock worth $142,763,000 after buying an additional 1,249,683 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Sunrun in the second quarter valued at approximately $9,668,000. Finally, HRT Financial LP bought a new position in shares of Sunrun in the second quarter valued at approximately $9,416,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RUN. TD Cowen raised their price target on Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft set a $19.00 target price on Sunrun in a research note on Wednesday, January 7th. Susquehanna upped their price target on shares of Sunrun from $13.00 to $23.00 and gave the stock a “positive” rating in a research report on Monday, October 13th. UBS Group increased their price objective on shares of Sunrun from $16.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Zacks Research downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.99.

Insiders Place Their Bets

In other news, CEO Mary Powell sold 8,754 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total value of $155,821.20. Following the transaction, the chief executive officer owned 864,946 shares of the company’s stock, valued at $15,396,038.80. This represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Paul S. Dickson sold 6,119 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total value of $108,918.20. Following the completion of the transaction, the executive owned 639,110 shares in the company, valued at $11,376,158. This represents a 0.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 354,956 shares of company stock valued at $6,634,832 over the last three months. 3.37% of the stock is owned by insiders.

Sunrun Price Performance

Shares of RUN stock opened at $19.93 on Monday. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -1.78 and a beta of 2.36. Sunrun Inc. has a 12 month low of $5.38 and a 12 month high of $22.44. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 3.67. The stock has a 50-day moving average price of $18.72 and a 200 day moving average price of $17.49.

Sunrun (NASDAQ:RUN) last released its earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Sunrun had a negative net margin of 106.50% and a positive return on equity of 19.34%. The company had revenue of $724.56 million for the quarter, compared to the consensus estimate of $601.15 million. During the same period in the prior year, the company posted ($0.37) EPS. The company’s revenue was up 34.9% compared to the same quarter last year. Research analysts expect that Sunrun Inc. will post -0.43 EPS for the current year.

About Sunrun

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.