Lazard Asset Management LLC Makes New $2.26 Million Investment in Sunrun Inc. $RUN

Lazard Asset Management LLC purchased a new position in shares of Sunrun Inc. (NASDAQ:RUN) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 166,664 shares of the energy company’s stock, valued at approximately $2,260,000. Lazard Asset Management LLC owned approximately 0.07% of Sunrun at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Contour Asset Management LLC purchased a new position in shares of Sunrun during the fourth quarter valued at approximately $98,010,000. Norges Bank acquired a new position in Sunrun in the 4th quarter valued at $62,169,000. Voloridge Investment Management LLC acquired a new position in Sunrun in the 3rd quarter valued at $40,193,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Sunrun during the 3rd quarter worth $21,427,000. Finally, Invesco Ltd. lifted its stake in shares of Sunrun by 26.6% during the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after purchasing an additional 1,231,628 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $15.92, for a total value of $796,000.00. Following the transaction, the director owned 459,091 shares in the company, valued at approximately $7,308,728.72. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 9,897 shares of Sunrun stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $130,541.43. Following the transaction, the insider directly owned 461,715 shares in the company, valued at approximately $6,090,020.85. This trade represents a 2.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 173,045 shares of company stock worth $2,436,835. 3.55% of the stock is owned by insiders.

Sunrun Stock Performance

Shares of RUN opened at $9.81 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44. The firm has a market capitalization of $2.34 billion, a P/E ratio of 4.61 and a beta of 2.36. The stock’s fifty day simple moving average is $12.78 and its 200 day simple moving average is $14.38. Sunrun Inc. has a twelve month low of $9.01 and a twelve month high of $22.44.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.67. The firm had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. On average, equities research analysts forecast that Sunrun Inc. will post 1.01 earnings per share for the current year.

Analysts Set New Price Targets

RUN has been the subject of a number of recent analyst reports. Glj Research reaffirmed a “sell” rating and issued a $4.63 price objective on shares of Sunrun in a research report on Friday, July 10th. Wall Street Zen downgraded Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Barclays lowered their price target on Sunrun from $23.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Finally, Citigroup cut their price objective on shares of Sunrun from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.81.

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.