Alliancebernstein L.P. continued to hold its stake in shares of Sunrun Inc. (NASDAQ:RUN) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,300 shares of the energy company’s stock at the end of the first quarter. Alliancebernstein L.P.’s holdings in Sunrun were worth $255,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in RUN. American International Group Inc. raised its stake in shares of Sunrun by 7.1% in the first quarter. American International Group Inc. now owns 38,950 shares of the energy company’s stock worth $210,000 after buying an additional 2,579 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Sunrun by 155.8% in the first quarter. UBS Asset Management Americas Inc. now owns 43,486 shares of the energy company’s stock worth $235,000 after buying an additional 26,486 shares during the period. Trexquant Investment LP raised its stake in shares of Sunrun by 31.9% in the first quarter. Trexquant Investment LP now owns 61,475 shares of the energy company’s stock worth $332,000 after buying an additional 14,859 shares during the period. SG Americas Securities LLC raised its stake in shares of Sunrun by 59.1% in the first quarter. SG Americas Securities LLC now owns 63,172 shares of the energy company’s stock worth $341,000 after buying an additional 23,476 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of Sunrun during the first quarter worth about $458,000. 71.41% of the stock is currently owned by institutional investors.
Sunrun Inc. (RUN) traded up 0.29% on Wednesday, reaching $6.96. The company had a trading volume of 40,142 shares. The firm has a 50 day moving average price of $7.12 and a 200-day moving average price of $5.80. Sunrun Inc. has a 12 month low of $4.15 and a 12 month high of $7.64. The stock has a market capitalization of $738.88 million, a price-to-earnings ratio of 8.93 and a beta of -0.69.
Sunrun (NASDAQ:RUN) last posted its earnings results on Monday, August 7th. The energy company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ 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 return on equity of 8.76% and a net margin of 17.65%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Analysts forecast that Sunrun Inc. will post $1.01 earnings per share for the current fiscal year.
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RUN has been the topic of a number of recent analyst reports. Bank of America Corporation reissued a “neutral” rating and set a $8.00 price target (up from $7.75) on shares of Sunrun in a research report on Thursday, August 10th. Zacks Investment Research lowered Sunrun from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub lowered Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Barclays PLC upped their price target on Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Finally, Goldman Sachs Group, Inc. (The) set a $10.00 price target on Sunrun and gave the company a “buy” rating in a research report on Tuesday, June 20th. Three analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $9.24.
In other Sunrun news, Chairman Edward Harris Fenster sold 115,094 shares of Sunrun 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 transaction, the chairman now directly owns 2,371,439 shares in the company, valued at $16,173,213.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 24.13% of the company’s stock.
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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