Mirova Has $42.08 Million Holdings in Sunrun Inc. (NASDAQ:RUN)

Mirova increased its stake in Sunrun Inc. (NASDAQ:RUN) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,088,248 shares of the energy company’s stock after acquiring an additional 89,541 shares during the quarter. Sunrun comprises 6.1% of Mirova’s holdings, making the stock its 4th largest holding. Mirova owned about 0.97% of Sunrun worth $42,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RUN. Salem Investment Counselors Inc. raised its position in shares of Sunrun by 3,750.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock worth $47,000 after acquiring an additional 1,500 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Sunrun by 40.0% in the first quarter. Exchange Traded Concepts LLC now owns 3,075 shares of the energy company’s stock valued at $62,000 after buying an additional 879 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in Sunrun in the fourth quarter valued at approximately $72,000. C M Bidwell & Associates Ltd. grew its position in shares of Sunrun by 49.5% during the 1st quarter. C M Bidwell & Associates Ltd. now owns 5,049 shares of the energy company’s stock worth $102,000 after buying an additional 1,672 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Sunrun by 46.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,321 shares of the energy company’s stock worth $127,000 after buying an additional 2,017 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RUN. Janney Montgomery Scott raised shares of Sunrun from a “neutral” rating to a “buy” rating in a research note on Thursday, August 3rd. KeyCorp reduced their target price on Sunrun from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, August 17th. Piper Sandler upped their price target on Sunrun from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Barclays reduced their price objective on Sunrun from $31.00 to $27.00 in a research note on Thursday, July 13th. Finally, JPMorgan Chase & Co. lowered their target price on Sunrun from $47.00 to $38.00 in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.75.

Insider Activity

In related news, CFO Danny Abajian sold 2,030 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total value of $30,754.50. Following the transaction, the chief financial officer now directly owns 214,943 shares in the company, valued at $3,256,386.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CRO Paul S. Dickson sold 2,476 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $15.15, for a total transaction of $37,511.40. Following the transaction, the executive now directly owns 310,185 shares in the company, valued at approximately $4,699,302.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Danny Abajian sold 2,030 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total value of $30,754.50. Following the transaction, the chief financial officer now directly owns 214,943 shares in the company, valued at $3,256,386.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,702 shares of company stock worth $1,895,123. 3.76% of the stock is currently owned by insiders.

Sunrun Stock Down 3.4 %

Shares of NASDAQ:RUN opened at $13.99 on Friday. The firm has a fifty day moving average price of $17.30 and a two-hundred day moving average price of $18.64. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 36.82 and a beta of 2.32. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.47 and a quick ratio of 0.91. Sunrun Inc. has a one year low of $13.30 and a one year high of $39.13.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 2nd. The energy company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.59. Sunrun had a return on equity of 1.18% and a net margin of 3.66%. The company had revenue of $590.20 million for the quarter, compared to the consensus estimate of $627.73 million. During the same quarter last year, the business posted ($0.06) earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that Sunrun Inc. will post -0.88 EPS for the current fiscal year.

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; and sells services to commercial developers through multi-family and new homes.