Truist Financial Corp cut its stake in Sunrun Inc. (NASDAQ:RUN – Get Rating) by 22.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,677 shares of the energy company’s stock after selling 11,449 shares during the period. Truist Financial Corp’s holdings in Sunrun were worth $1,067,000 as of its most recent filing with the Securities & Exchange Commission.
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A number of other institutional investors also recently bought and sold shares of RUN. SeaCrest Wealth Management LLC acquired a new stake in Sunrun during the 2nd quarter valued at approximately $31,000. CWM LLC lifted its stake in Sunrun by 92.0% during the 2nd quarter. CWM LLC now owns 1,622 shares of the energy company’s stock valued at $38,000 after acquiring an additional 777 shares during the period. Salem Investment Counselors Inc. lifted its stake in Sunrun by 3,750.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock valued at $47,000 after acquiring an additional 1,500 shares during the period. Trust Co. of Vermont acquired a new stake in Sunrun during the 2nd quarter valued at approximately $61,000. Finally, Castleview Partners LLC lifted its stake in Sunrun by 2,235.6% during the 2nd quarter. Castleview Partners LLC now owns 2,032 shares of the energy company’s stock valued at $87,000 after acquiring an additional 1,945 shares during the period. 86.21% of the stock is currently owned by institutional investors and hedge funds.
Sunrun Price Performance
Shares of NASDAQ RUN opened at $25.45 on Friday. The firm has a 50-day simple moving average of $28.14 and a 200-day simple moving average of $28.57. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 87.76 and a beta of 2.26. The company has a quick ratio of 1.19, a current ratio of 1.74 and a debt-to-equity ratio of 1.09. Sunrun Inc. has a 52 week low of $16.80 and a 52 week high of $39.13.
Sunrun (NASDAQ:RUN – Get Rating) last issued its earnings results on Wednesday, November 2nd. The energy company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.97. The business had revenue of $631.91 million during the quarter, compared to analysts’ expectations of $542.20 million. Sunrun had a net margin of 3.35% and a return on equity of 1.23%. On average, equities analysts predict that Sunrun Inc. will post 0.47 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Lynn Michelle Jurich sold 75,000 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $26.17, for a total value of $1,962,750.00. Following the completion of the sale, the director now directly owns 1,449,459 shares in the company, valued at $37,932,342.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Lynn Michelle Jurich sold 75,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $26.17, for a total value of $1,962,750.00. Following the completion of the sale, the director now owns 1,449,459 shares of the company’s stock, valued at $37,932,342.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Harris Fenster sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $24.92, for a total transaction of $2,492,000.00. Following the completion of the sale, the insider now directly owns 1,311,406 shares of the company’s stock, valued at approximately $32,680,237.52. The disclosure for this sale can be found here. Insiders sold 276,143 shares of company stock worth $7,387,001 over the last three months. Insiders own 4.29% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on RUN. Wolfe Research cut shares of Sunrun from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 20th. Royal Bank of Canada cut their target price on shares of Sunrun from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, November 11th. Northland Securities began coverage on shares of Sunrun in a report on Wednesday, September 28th. They set an “outperform” rating and a $60.00 target price for the company. Janney Montgomery Scott began coverage on shares of Sunrun in a report on Thursday, December 1st. They set a “neutral” rating and a $30.00 target price for the company. Finally, StockNews.com raised shares of Sunrun to a “sell” rating in a report on Monday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Sunrun has an average rating of “Moderate Buy” and an average target price of $43.53.
About Sunrun
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.
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