Quentec Asset Management LLC Trims Position in Sunrun Inc (RUN)
Quentec Asset Management LLC lessened its stake in shares of Sunrun Inc (NASDAQ:RUN) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,167,869 shares of the energy company’s stock after selling 48,189 shares during the period. Sunrun makes up about 2.9% of Quentec Asset Management LLC’s investment portfolio, making the stock its 6th largest holding. Quentec Asset Management LLC owned 4.84% of Sunrun worth $28,682,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Uniplan Investment Counsel Inc. boosted its stake in Sunrun by 136.7% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 1,379,779 shares of the energy company’s stock valued at $7,657,000 after purchasing an additional 796,912 shares during the last quarter. Precocity Capital LP purchased a new stake in Sunrun during the 3rd quarter valued at $2,220,000. Vanguard Group Inc. boosted its stake in Sunrun by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 5,483,858 shares of the energy company’s stock valued at $29,613,000 after purchasing an additional 375,782 shares during the last quarter. State Street Corp boosted its stake in Sunrun by 22.7% during the 2nd quarter. State Street Corp now owns 1,628,766 shares of the energy company’s stock valued at $11,596,000 after purchasing an additional 300,923 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Sunrun by 31.0% during the 2nd quarter. Northern Trust Corp now owns 872,704 shares of the energy company’s stock valued at $6,214,000 after purchasing an additional 206,421 shares during the last quarter. 78.12% of the stock is owned by institutional investors.
RUN has been the topic of several recent analyst reports. ValuEngine downgraded Sunrun from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub downgraded Sunrun from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research note on Friday, October 13th. Bank of America began coverage on Sunrun in a research note on Monday, November 6th. They issued a “buy” rating on the stock. Finally, Oppenheimer restated a “buy” rating and issued a $10.00 price target on shares of Sunrun in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Sunrun currently has an average rating of “Buy” and a consensus target price of $7.88.
Sunrun Inc (NASDAQ:RUN) opened at $5.56 on Thursday. The stock has a market capitalization of $586.26, a price-to-earnings ratio of 6.31 and a beta of -0.69. Sunrun Inc has a 52 week low of $4.21 and a 52 week high of $7.78. The company has a quick ratio of 0.60, a current ratio of 0.72 and a debt-to-equity ratio of 0.89.
Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.11. The firm had revenue of $141.29 million for the quarter, compared to the consensus estimate of $146.56 million. Sunrun had a return on equity of 9.25% and a net margin of 18.79%. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. research analysts predict that Sunrun Inc will post 0.64 earnings per share for the current year.
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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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