Natixis Boosts Holdings in Sunrun Inc. (NASDAQ:RUN)

Natixis lifted its stake in Sunrun Inc. (NASDAQ:RUN) by 86.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 831,969 shares of the energy company’s stock after acquiring an additional 384,992 shares during the period. Natixis’ holdings in Sunrun were worth $10,965,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in Sunrun by 16.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 559,438 shares of the energy company’s stock worth $7,373,000 after purchasing an additional 77,928 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Sunrun by 35.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 259,789 shares of the energy company’s stock worth $3,423,000 after purchasing an additional 67,761 shares during the last quarter. Seven Eight Capital LP purchased a new position in Sunrun during the 1st quarter worth $5,990,000. Edgestream Partners L.P. purchased a new position in Sunrun during the 1st quarter worth $2,107,000. Finally, Nicola Wealth Management LTD. grew its position in Sunrun by 63.6% during the 1st quarter. Nicola Wealth Management LTD. now owns 180,000 shares of the energy company’s stock worth $2,372,000 after purchasing an additional 70,000 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on RUN. Mizuho lowered their price objective on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Morgan Stanley raised their target price on shares of Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Piper Sandler raised their target price on shares of Sunrun from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on shares of Sunrun from $14.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group reduced their target price on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.42.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the director now directly owns 1,294,383 shares in the company, valued at approximately $21,913,904.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the director now directly owns 1,294,383 shares in the company, valued at approximately $21,913,904.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary Powell sold 1,741 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $14.86, for a total transaction of $25,871.26. Following the transaction, the chief executive officer now owns 589,927 shares of the company’s stock, valued at $8,766,315.22. The disclosure for this sale can be found here. In the last three months, insiders sold 255,712 shares of company stock worth $3,706,261. 3.76% of the stock is owned by corporate insiders.

Sunrun Price Performance

Shares of NASDAQ RUN traded up $0.29 during midday trading on Thursday, hitting $17.48. The company had a trading volume of 12,191,508 shares, compared to its average volume of 13,511,919. The company has a quick ratio of 0.99, a current ratio of 1.31 and a debt-to-equity ratio of 1.84. Sunrun Inc. has a twelve month low of $8.43 and a twelve month high of $22.16. The business has a 50-day simple moving average of $13.94 and a two-hundred day simple moving average of $13.15. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of -2.62 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The firm had revenue of $458.20 million during the quarter, compared to the consensus estimate of $471.38 million. During the same period last year, the firm posted ($1.12) EPS. The firm’s revenue for the quarter was down 22.3% on a year-over-year basis. Equities research analysts anticipate that Sunrun Inc. will post -1.25 earnings per share for the current year.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.