First Trust Advisors LP Has $780,000 Position in Sunrun Inc. (RUN)
First Trust Advisors LP increased its holdings in Sunrun Inc. (NASDAQ:RUN) by 18.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,522 shares of the energy company’s stock after purchasing an additional 16,996 shares during the quarter. First Trust Advisors LP owned 0.10% of Sunrun worth $780,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of RUN. IPG Investment Advisors LLC purchased a new position in Sunrun in the 1st quarter worth $163,000. Tudor Investment Corp ET AL raised its position in Sunrun by 144.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 32,800 shares of the energy company’s stock worth $177,000 after purchasing an additional 19,400 shares during the period. American International Group Inc. raised its position in Sunrun by 7.1% in the 1st quarter. American International Group Inc. now owns 38,950 shares of the energy company’s stock worth $210,000 after purchasing an additional 2,579 shares during the period. Perigon Wealth Management LLC purchased a new position in Sunrun in the 1st quarter worth $227,000. Finally, UBS Asset Management Americas Inc. raised its position in Sunrun by 155.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 43,486 shares of the energy company’s stock worth $235,000 after purchasing an additional 26,486 shares during the period. Institutional investors own 73.57% of the company’s stock.
Sunrun Inc. (NASDAQ:RUN) opened at 5.59 on Friday. The stock has a market cap of $593.44 million, a PE ratio of 7.18 and a beta of -0.64. Sunrun Inc. has a 52-week low of $4.15 and a 52-week high of $7.34. The firm has a 50 day moving average of $6.68 and a 200-day moving average of $6.68.
Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Monday, August 7th. The energy company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. The business had revenue of $137.85 million during the quarter, compared to analyst estimates of $143.35 million. During the same quarter last year, the business earned $0.31 earnings per share. Sunrun’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities analysts anticipate that Sunrun Inc. will post $1.01 earnings per share for the current fiscal year.
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In other news, insider Steven Vassallo sold 33,576 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $7.16, for a total value of $240,404.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Edward Harris Fenster sold 115,094 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $6.82, for a total transaction of $784,941.08. Following the completion of the sale, the chairman now owns 2,371,439 shares of the company’s stock, valued at approximately $16,173,213.98. The disclosure for this sale can be found here. 24.13% of the stock is owned by company insiders.
A number of equities analysts recently commented on the stock. Bank of America Corporation reiterated a “neutral” rating and issued a $8.00 target price (up previously from $7.75) on shares of Sunrun in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Sunrun from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub cut shares of Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Barclays PLC lifted their target price on shares of Sunrun from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Finally, ValuEngine cut shares of Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.33.
Sunrun Company Profile
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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