Bank of New York Mellon Corp Lowers Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

Bank of New York Mellon Corp lowered its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,786,398 shares of the energy company’s stock after selling 20,821 shares during the quarter. Bank of New York Mellon Corp owned about 0.81% of Sunrun worth $21,187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its holdings in shares of Sunrun by 3.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 111,500 shares of the energy company’s stock worth $1,322,000 after purchasing an additional 3,700 shares during the period. &PARTNERS boosted its holdings in Sunrun by 1.6% in the second quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after purchasing an additional 1,019 shares during the last quarter. Canton Hathaway LLC purchased a new position in shares of Sunrun during the 2nd quarter valued at approximately $119,000. Nisa Investment Advisors LLC boosted its stake in Sunrun by 405.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 60,872 shares of the energy company’s stock valued at $722,000 after acquiring an additional 48,827 shares during the last quarter. Finally, OFI Invest Asset Management grew its stake in Sunrun by 1,949.4% in the second quarter. OFI Invest Asset Management now owns 11,149 shares of the energy company’s stock worth $123,000 after purchasing an additional 10,605 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RUN. StockNews.com upgraded Sunrun to a “sell” rating in a report on Thursday, August 8th. Jefferies Financial Group decreased their price target on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Barclays increased their price objective on shares of Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Evercore ISI cut their target price on Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, BMO Capital Markets lifted their price target on Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.98.

Sunrun Price Performance

Shares of RUN opened at $19.26 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The firm has a market cap of $4.31 billion, a PE ratio of -2.89 and a beta of 2.59. The firm’s 50 day moving average price is $17.25 and its 200 day moving average price is $13.96. Sunrun Inc. has a twelve month low of $8.43 and a twelve month high of $22.26.

Sunrun (NASDAQ:RUN) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. During the same period in the previous year, the company earned $0.25 EPS. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. As a group, research analysts expect that Sunrun Inc. will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sunrun news, Director Katherine August-Dewilde sold 23,584 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $13.74, for a total value of $324,044.16. Following the sale, the director now directly owns 89,948 shares in the company, valued at approximately $1,235,885.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sunrun news, Director Katherine August-Dewilde sold 23,584 shares of Sunrun stock in a transaction on Monday, June 10th. The shares were sold at an average price of $13.74, for a total transaction of $324,044.16. Following the sale, the director now owns 89,948 shares in the company, valued at $1,235,885.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $12.11, for a total transaction of $605,500.00. Following the completion of the sale, the director now directly owns 1,344,383 shares in the company, valued at approximately $16,280,478.13. The disclosure for this sale can be found here. Insiders have sold a total of 229,877 shares of company stock valued at $3,573,753 in the last three months. Company insiders own 3.76% of the company’s stock.

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.