168,469 Shares in Sunrun Inc. $RUN Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in shares of Sunrun Inc. (NASDAQ:RUN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 168,469 shares of the energy company’s stock, valued at approximately $2,254,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allworth Financial LP acquired a new position in Sunrun during the second quarter valued at $25,000. Farther Finance Advisors LLC lifted its holdings in shares of Sunrun by 156.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after buying an additional 885 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sunrun in the fourth quarter worth about $27,000. Hantz Financial Services Inc. boosted its stake in shares of Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after buying an additional 564 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Sunrun during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Up 7.0%

RUN stock opened at $8.96 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The firm has a 50-day moving average of $10.78 and a two-hundred day moving average of $12.83. Sunrun Inc. has a 12 month low of $8.22 and a 12 month high of $22.44. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 6.05 and a beta of 2.37.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same quarter in the previous year, the firm earned $1.07 EPS. The company’s quarterly revenue was up 52.8% compared to the same quarter last year. As a group, analysts forecast that Sunrun Inc. will post 1.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company lowered their price objective on Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. Citigroup dropped their price target on shares of Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $17.00 target price on shares of Sunrun in a research note on Friday, May 8th. Mizuho set a $18.00 price target on Sunrun in a research note on Thursday, August 6th. Finally, Oppenheimer reissued an “outperform” rating and issued a $20.00 price objective on shares of Sunrun in a report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.81.

Insider Activity

In related news, CFO Danny Abajian sold 16,495 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $217,569.05. Following the sale, the chief financial officer directly owned 420,318 shares in the company, valued at approximately $5,543,994.42. The trade was a 3.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 23,985 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $316,362.15. Following the completion of the transaction, the chief executive officer directly owned 1,111,535 shares in the company, valued at $14,661,146.65. The trade was a 2.11% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 173,045 shares of company stock worth $2,138,835. 3.55% of the stock is currently owned by corporate insiders.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.