Public Sector Pension Investment Board Acquires 121,140 Shares of Sunrun Inc. $RUN

Public Sector Pension Investment Board lifted its stake in Sunrun Inc. (NASDAQ:RUN) by 15.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 900,042 shares of the energy company’s stock after purchasing an additional 121,140 shares during the period. Public Sector Pension Investment Board owned about 0.39% of Sunrun worth $15,562,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cibc World Market Inc. increased its position in shares of Sunrun by 165.9% during the third quarter. Cibc World Market Inc. now owns 32,769 shares of the energy company’s stock worth $567,000 after acquiring an additional 20,443 shares during the period. Oppenheimer & Co. Inc. grew its stake in Sunrun by 111.9% in the third quarter. Oppenheimer & Co. Inc. now owns 22,344 shares of the energy company’s stock worth $386,000 after purchasing an additional 11,800 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Sunrun by 33.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 5,495 shares of the energy company’s stock worth $98,000 after purchasing an additional 1,365 shares during the period. Principal Financial Group Inc. increased its holdings in Sunrun by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,194,915 shares of the energy company’s stock worth $20,660,000 after purchasing an additional 63,284 shares during the period. Finally, AlphaQuest LLC raised its position in Sunrun by 36.8% during the 3rd quarter. AlphaQuest LLC now owns 13,807 shares of the energy company’s stock valued at $239,000 after purchasing an additional 3,717 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Trading Up 4.9%

NASDAQ RUN opened at $19.09 on Friday. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $22.44. The company has a 50 day moving average price of $18.86 and a 200 day moving average price of $17.74. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 3.67. The firm has a market cap of $4.43 billion, a PE ratio of -1.71 and a beta of 2.36.

Insider Transactions at Sunrun

In other news, Director Edward Harris Fenster sold 163,844 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $19.95, for a total transaction of $3,268,687.80. Following the sale, the director owned 1,578,895 shares in the company, valued at approximately $31,498,955.25. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $18.59, for a total transaction of $929,500.00. Following the transaction, the director owned 651,175 shares in the company, valued at approximately $12,105,343.25. This trade represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 518,800 shares of company stock worth $9,903,520. 3.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on RUN shares. TD Cowen raised their price target on Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Raymond James Financial assumed coverage on shares of Sunrun in a research report on Monday, January 12th. They set a “market perform” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sunrun in a research report on Wednesday, December 17th. Guggenheim upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, November 10th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price objective on shares of Sunrun in a research note on Wednesday, January 21st. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and a consensus price target of $19.99.

Sunrun Profile

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.