Great West Life Assurance Co. Can Acquires New Holdings in Sunrun Inc. (NASDAQ:RUN)

Great West Life Assurance Co. Can purchased a new position in shares of Sunrun Inc. (NASDAQ:RUNGet Rating) in the 3rd quarter, HoldingsChannel reports. The firm purchased 141,584 shares of the energy company’s stock, valued at approximately $3,903,000.

Several other hedge funds have also recently added to or reduced their stakes in RUN. Private Advisor Group LLC increased its stake in shares of Sunrun by 12.4% in the 2nd quarter. Private Advisor Group LLC now owns 22,247 shares of the energy company’s stock valued at $520,000 after acquiring an additional 2,461 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Sunrun by 28.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 43,664 shares of the energy company’s stock valued at $1,020,000 after acquiring an additional 9,549 shares in the last quarter. Van ECK Associates Corp grew its position in Sunrun by 27.2% in the 2nd quarter. Van ECK Associates Corp now owns 232,185 shares of the energy company’s stock valued at $5,424,000 after purchasing an additional 49,713 shares during the period. Xponance Inc. grew its position in Sunrun by 8.0% in the 2nd quarter. Xponance Inc. now owns 24,689 shares of the energy company’s stock valued at $577,000 after purchasing an additional 1,819 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its position in Sunrun by 2.3% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 35,170 shares of the energy company’s stock valued at $822,000 after purchasing an additional 789 shares during the period. Institutional investors own 86.21% of the company’s stock.

Analysts Set New Price Targets

RUN has been the subject of several research reports. BMO Capital Markets reduced their price target on shares of Sunrun from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Royal Bank of Canada reduced their price target on shares of Sunrun from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, November 11th. Guggenheim cut their price objective on shares of Sunrun from $59.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, October 17th. Morgan Stanley cut their price objective on shares of Sunrun from $72.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, January 10th. Finally, Wells Fargo & Company raised shares of Sunrun from an “equal weight” rating to an “overweight” rating and set a $32.00 price objective on the stock in a report on Friday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and an average price target of $43.53.

Sunrun Trading Up 3.4 %

Shares of Sunrun stock opened at $26.83 on Tuesday. Sunrun Inc. has a 52-week low of $16.80 and a 52-week high of $39.13. The stock’s 50-day simple moving average is $27.99 and its 200 day simple moving average is $28.64. The stock has a market capitalization of $5.72 billion, a P/E ratio of 92.52 and a beta of 2.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.19 and a current ratio of 1.74.

Sunrun (NASDAQ:RUNGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The energy company reported $0.96 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.97. Sunrun had a return on equity of 1.23% and a net margin of 3.35%. The firm had revenue of $631.91 million for the quarter, compared to analysts’ expectations of $542.20 million. As a group, research analysts anticipate that Sunrun Inc. will post 0.48 EPS for the current year.

Insider Activity

In other news, insider Edward Harris Fenster sold 5,880 shares of the company’s stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of $26.70, for a total transaction of $156,996.00. Following the sale, the insider now directly owns 1,564,870 shares in the company, valued at $41,782,029. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Jeanna Steele sold 849 shares of the business’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $31.31, for a total transaction of $26,582.19. Following the completion of the transaction, the insider now owns 154,505 shares of the company’s stock, valued at $4,837,551.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Harris Fenster sold 5,880 shares of the company’s stock in a transaction that occurred on Thursday, December 22nd. The stock was sold at an average price of $26.70, for a total value of $156,996.00. Following the completion of the sale, the insider now directly owns 1,564,870 shares of the company’s stock, valued at approximately $41,782,029. The disclosure for this sale can be found here. Insiders have sold a total of 276,143 shares of company stock worth $7,387,001 over the last ninety days. Company insiders own 4.29% of the company’s stock.

Sunrun Profile

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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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Want to see what other hedge funds are holding RUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunrun Inc. (NASDAQ:RUNGet Rating).

Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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