Grantham Mayo Van Otterloo & Co. LLC Cuts Stock Holdings in Sunrun Inc. $RUN

Grantham Mayo Van Otterloo & Co. LLC lowered its stake in Sunrun Inc. (NASDAQ:RUN) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,617,456 shares of the energy company’s stock after selling 913,400 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 4.60% of Sunrun worth $86,851,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. PGGM Investments lifted its position in Sunrun by 316.6% in the second quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock valued at $57,319,000 after purchasing an additional 5,325,332 shares during the last quarter. Sylebra Capital LLC grew its holdings in Sunrun by 23.8% in the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company’s stock worth $48,482,000 after acquiring an additional 1,590,169 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sunrun in the second quarter valued at about $9,668,000. Nuveen LLC purchased a new position in shares of Sunrun in the first quarter valued at about $5,259,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Sunrun by 45.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock worth $13,518,000 after purchasing an additional 718,955 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $19.23 on Friday. The company has a 50 day simple moving average of $19.10 and a two-hundred day simple moving average of $13.94. Sunrun Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of -1.66 and a beta of 2.35. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The company had revenue of $724.56 million for the quarter, compared to the consensus estimate of $601.15 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The firm’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.37) EPS. Analysts expect that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Susquehanna raised their target price on Sunrun from $13.00 to $23.00 and gave the stock a “positive” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sunrun in a report on Wednesday, October 8th. Guggenheim raised Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Monday, November 10th. Zacks Research downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Finally, Jefferies Financial Group upgraded shares of Sunrun from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $21.00 in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.54.

Insider Activity

In other news, CFO Danny Abajian sold 9,055 shares of Sunrun stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $19.35, for a total value of $175,214.25. Following the completion of the transaction, the chief financial officer owned 424,606 shares of the company’s stock, valued at $8,216,126.10. The trade was a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $19.31, for a total transaction of $965,500.00. Following the sale, the director directly owned 850,482 shares in the company, valued at $16,422,807.42. This trade represents a 5.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 281,535 shares of company stock valued at $5,427,779. 3.37% of the stock is currently owned by insiders.

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.