Legal & General Group Plc Buys Shares of 549,555 Sunrun Inc. $RUN

Legal & General Group Plc acquired a new stake in Sunrun Inc. (NASDAQ:RUN) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 549,555 shares of the energy company’s stock, valued at approximately $7,353,000. Legal & General Group Plc owned approximately 0.23% of Sunrun as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Sunrun by 5.1% in the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock valued at $3,672,000 after purchasing an additional 30,175 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Sunrun by 47.8% in the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock worth $192,000 after acquiring an additional 10,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Sunrun by 2.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock worth $1,397,000 after acquiring an additional 5,882 shares during the period. Jones Financial Companies Lllp raised its stake in Sunrun by 511.0% during the 1st quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock valued at $158,000 after purchasing an additional 22,603 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Sunrun by 45.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after buying an additional 718,955 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Susquehanna cut their price target on Sunrun from $18.00 to $15.00 and set a “positive” rating for the company in a report on Friday, August 7th. Mizuho set a $18.00 target price on Sunrun in a research note on Thursday, August 6th. Zacks Research downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Royal Bank Of Canada dropped their price objective on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, Citigroup reduced their price objective on shares of Sunrun from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 7th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Sunrun currently has an average rating of “Hold” and a consensus price target of $16.81.

Sunrun Trading Up 7.0%

Shares of RUN stock opened at $8.96 on Thursday. The company has a market capitalization of $2.16 billion, a P/E ratio of 6.05 and a beta of 2.37. Sunrun Inc. has a 12-month low of $8.22 and a 12-month high of $22.44. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. The firm has a 50-day moving average price of $10.78 and a 200 day moving average price of $12.83.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The firm had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. During the same period in the prior year, the firm earned $1.07 earnings per share. The company’s quarterly revenue was up 52.8% compared to the same quarter last year. Research analysts forecast that Sunrun Inc. will post 1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mary Powell sold 23,985 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $316,362.15. Following the sale, the chief executive officer directly owned 1,111,535 shares in the company, valued at $14,661,146.65. This represents a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total value of $498,000.00. Following the sale, the director directly owned 367,405 shares of the company’s stock, valued at $3,659,353.80. This represents a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 173,045 shares of company stock worth $2,138,835 over the last ninety days. 3.55% of the stock is owned by insiders.

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.