Principal Financial Group Inc. during the second quarter Sunrun Inc. (NASDAQ: RUN – Get Rating) raised its stake in shares by 16.9%, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund held 826,888 shares of the energy company’s stock after purchasing an additional 119,246 shares during the period. Principal Financial Group Inc’s holding in Sunrun was worth $19,316,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also increased or decreased their stakes in the company recently. Clearstead Advisors LLC boosted its position in Sunrun shares to 743.6% in the first quarter. Clearstead Advisors LLC now owns 928 shares of the energy company’s stock valued at $28,000 after acquiring an additional 818 shares during the period. Seacrest Wealth Management LLC purchased a new stake in Sunrun shares worth approximately $31,000 in the second quarter. Meeder Asset Management Inc. purchased a new stake in Sunrun shares in the first quarter valued at approximately $32,000. Verity Asset Management Inc. purchased a new stake in Sunrun shares valued at approximately $35,000 in the first quarter. Finally, CWM LLC boosted its position in Sunrun shares to 92.0% in the second quarter. CWM LLC now owns 1,622 shares of the energy company’s stock valued at $38,000 after acquiring an additional 777 shares during the period. Institutional investors and hedge funds hold 90.85% of the company’s stock.
Analysts set new price targets
Several research firms have weighed in on the run recently. Guggenheim cut its price objective on Sunrun from $59.00 to $41.00 and set a “Buy” rating on the company in a research report on Monday, October 17. JPMorgan Chase & Co. cut its target price on Sunrun from $55.00 to $45.00 and set an “overweight” rating on the company in a research report on Thursday, November 3. Evercore ISI raised its price objective on Sunrun from $64.00 to $67.00 in a report on Thursday, August 4. Deutsche Bank Aktiengesellschaft initiated coverage on Sunrun in a report on Monday, November 14. He sets a “Buy” rating and $36.00 price objective on the company. Finally, Royal Bank of Canada reduced its price objective on Sunrun from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, November 11. One analyst has rated the stock with Sell rating, three have Hold rating and fourteen have Buy rating on the company’s stock. Sunrun currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.39, based on data from MarketBeat.
insider buying and selling
In related news, insider Gina Steele sold 799 shares of Sunrun stock in one transaction on Monday, September 19. The stock was sold at an average price of $37.03, for a total value of $29,586.97. Following the completion of the sale, the insider now directly owns 156,392 shares in the company, valued at $5,791,195.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Lynn Mitchell Zurich sold 75,000 shares of the business in a single transaction on Monday, Sept. 12. The stock was sold at an average price of $37.63, for a total transaction of $2,822,250.00. Following the completion of the transaction, the insider now directly owns 1,458,116 shares in the company, valued at approximately $54,868,905.08. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available via this link. Additionally, insider Gina Steele sold 799 shares of the business’s stock in one transaction on Monday, September 19. The stock was sold at an average price of $37.03, for a total value of $29,586.97. Following the transaction, the insider now owns 156,392 shares of the company’s stock, valued at $5,791,195.76. Disclosure of this sale can be found here. Insiders sold a total of 243,327 shares of company stock valued at $7,313,106 over the past three months. 4.29% of the stock is currently held by the insiders of the company.
sunrun stock performance
Shares of NASDAQ: RUN opened at $30.46 on Tuesday. Sunrun Inc. The 12-month low is $16.80 and the 12-month high is $56.96. The firm has a market cap of $6.49 billion, a PE ratio of 105.04, and a beta of 2.10. The company has a debt-to-equity ratio of 1.09, quick ratio of 1.19 and current ratio of 1.74. The 50-day moving average is trading at $27.33 and the 200-day moving average is at $27.44.
Sunrun (NASDAQ: RUN – Get Rating) last announced its earnings results on Wednesday, November 2. The energy company reported earnings per share of $0.96 for the quarter, beating analysts’ consensus estimates of $0.97 ($0.01). The company’s revenue during the quarter was $631.91 million, beating analyst estimates of $542.20 million. Sunrun had a return on equity of 1.23% and a net margin of 3.35%. On average, equity research analysts expect Sunrun Inc to post 0.39 EPS for the current fiscal year.
Sunrun, Inc. engages in the design, development, installation, sale, ownership and maintenance of residential solar power systems. It sells solar service offerings and installs solar power systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships and strategic partnerships.
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