CenterBook Partners LP Acquires Shares of 131,561 Sunrun Inc. $RUN

CenterBook Partners LP purchased a new position in shares of Sunrun Inc. (NASDAQ:RUN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 131,561 shares of the energy company’s stock, valued at approximately $2,275,000. CenterBook Partners LP owned about 0.06% of Sunrun at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Crestwood Advisors Group LLC increased its position in shares of Sunrun by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 35,158 shares of the energy company’s stock worth $608,000 after acquiring an additional 644 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Sunrun by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock worth $418,300,000 after buying an additional 288,945 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Sunrun in the 3rd quarter valued at about $2,495,000. PNC Financial Services Group Inc. increased its position in shares of Sunrun by 39.0% in the third quarter. PNC Financial Services Group Inc. now owns 16,916 shares of the energy company’s stock valued at $292,000 after acquiring an additional 4,749 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Sunrun by 15.6% during the third quarter. Public Sector Pension Investment Board now owns 900,042 shares of the energy company’s stock worth $15,562,000 after acquiring an additional 121,140 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RUN shares. Guggenheim raised shares of Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, November 10th. Deutsche Bank Aktiengesellschaft set a $19.00 price objective on shares of Sunrun in a research report on Wednesday, January 7th. TD Cowen upped their target price on shares of Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sunrun in a report on Thursday, January 22nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $22.00 price objective on shares of Sunrun in a research note on Wednesday, January 21st. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.99.

Sunrun Stock Down 0.5%

RUN opened at $20.04 on Friday. The stock has a fifty day moving average of $18.98 and a 200-day moving average of $17.96. The company has a market capitalization of $4.65 billion, a P/E ratio of -1.79 and a beta of 2.36. Sunrun Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.06 and a current ratio of 1.46.

Insider Activity

In other news, CEO Mary Powell sold 8,754 shares of Sunrun stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total value of $155,821.20. Following the completion of the sale, the chief executive officer directly owned 864,946 shares in the company, valued at approximately $15,396,038.80. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Paul S. Dickson sold 6,119 shares of the stock in a transaction that occurred 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 sale, the executive directly owned 639,110 shares in the company, valued at $11,376,158. This represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 518,800 shares of company stock worth $9,903,520. Insiders own 3.37% of the company’s stock.

Sunrun Company Profile

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.