Virtu KCG Holdings LLC lifted its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 440.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,830 shares of the energy company’s stock after purchasing an additional 55,268 shares during the quarter. Virtu KCG Holdings LLC owned 0.06% of Sunrun worth $483,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in RUN. Vanguard Group Inc. raised its position in shares of Sunrun by 7.4% during the first quarter. Vanguard Group Inc. now owns 5,483,858 shares of the energy company’s stock worth $29,613,000 after purchasing an additional 375,782 shares during the period. FMR LLC raised its position in shares of Sunrun by 1.8% during the first quarter. FMR LLC now owns 15,691,308 shares of the energy company’s stock worth $84,733,000 after purchasing an additional 270,000 shares during the period. Northern Trust Corp raised its position in shares of Sunrun by 31.0% during the second quarter. Northern Trust Corp now owns 872,704 shares of the energy company’s stock worth $6,214,000 after purchasing an additional 206,421 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Sunrun during the second quarter worth about $1,336,000. Finally, Wells Fargo & Company MN raised its position in shares of Sunrun by 108.9% during the first quarter. Wells Fargo & Company MN now owns 281,450 shares of the energy company’s stock worth $1,519,000 after purchasing an additional 146,733 shares during the period. 73.95% of the stock is currently owned by institutional investors.
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RUN has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) set a $10.00 price target on Sunrun and gave the stock a “buy” rating in a research report on Tuesday, June 20th. ValuEngine raised Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Zacks Investment Research raised Sunrun from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Wednesday, July 12th. Barclays PLC lifted their target price on Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Finally, Bank of America Corporation reissued 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $9.33.
Shares of Sunrun Inc. (RUN) opened at 5.47 on Thursday. The firm has a market cap of $580.70 million, a price-to-earnings ratio of 7.02 and a beta of -0.71. The company has a 50-day moving average price of $5.94 and a 200-day moving average price of $5.94. Sunrun Inc. has a 12 month low of $4.15 and a 12 month high of $7.20.
Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Monday, August 7th. The energy company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Sunrun had a return on equity of 8.76% and a net margin of 17.65%. The business had revenue of $137.85 million for the quarter, compared to the consensus estimate of $143.35 million. During the same period in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts forecast that Sunrun Inc. will post $1.01 earnings per share for the current fiscal year.
In related news, Chairman Edward Harris Fenster sold 115,094 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $16,173,213.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven Vassallo sold 33,576 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $7.16, for a total value of $240,404.16. The disclosure for this sale can be found here. 24.13% of the stock is currently owned by corporate 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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