Wetherby Asset Management Inc. Cuts Stake in Sunrun Inc. (RUN)
Wetherby Asset Management Inc. decreased its position in Sunrun Inc. (NASDAQ:RUN) by 32.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,727 shares of the energy company’s stock after selling 90,000 shares during the period. Wetherby Asset Management Inc.’s holdings in Sunrun were worth $1,308,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of RUN. FMR LLC raised its position in Sunrun by 1.8% in the first quarter. FMR LLC now owns 15,691,308 shares of the energy company’s stock valued at $84,733,000 after buying an additional 270,000 shares during the period. Vanguard Group Inc. raised its position in Sunrun by 7.4% in the first quarter. Vanguard Group Inc. now owns 5,483,858 shares of the energy company’s stock valued at $29,613,000 after buying an additional 375,782 shares during the period. DnB Asset Management AS raised its position in Sunrun by 8.4% in the first quarter. DnB Asset Management AS now owns 4,746,526 shares of the energy company’s stock valued at $25,631,000 after buying an additional 367,911 shares during the period. Uniplan Investment Counsel Inc. raised its position in Sunrun by 4.1% in the first quarter. Uniplan Investment Counsel Inc. now owns 1,391,025 shares of the energy company’s stock valued at $7,511,000 after buying an additional 55,368 shares during the period. Finally, State Street Corp raised its position in Sunrun by 12.3% in the fourth quarter. State Street Corp now owns 1,033,026 shares of the energy company’s stock valued at $5,485,000 after buying an additional 113,016 shares during the period. Hedge funds and other institutional investors own 71.63% of the company’s stock.
Shares of Sunrun Inc. (NASDAQ RUN) opened at 6.84 on Thursday. The stock has a market cap of $721.24 million, a P/E ratio of 7.97 and a beta of -0.69. Sunrun Inc. has a 52 week low of $4.15 and a 52 week high of $7.64. The stock has a 50 day moving average of $7.10 and a 200 day moving average of $5.76.
Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Monday, August 7th. The energy company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $137.85 million for the quarter, compared to analyst estimates of $143.35 million. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. Sunrun’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. On average, analysts expect that Sunrun Inc. will post $1.06 earnings per share for the current year.
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RUN has been the subject of several research reports. Goldman Sachs Group, Inc. (The) set a $10.00 price objective on shares of Sunrun and gave the company a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research lowered shares of Sunrun from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. Bank of America Corporation reiterated a “neutral” rating and set a $8.00 price objective (up previously from $7.75) on shares of Sunrun in a research report on Thursday. Barclays PLC increased their price objective on shares of Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, ValuEngine upgraded shares of Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Sunrun has a consensus rating of “Buy” and an average price target of $9.82.
In related news, Chairman Edward Harris Fenster sold 115,094 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total value of $784,941.08. Following the sale, the chairman now directly owns 2,371,439 shares in the company, valued at approximately $16,173,213.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.13% of the stock is currently owned by insiders.
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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