Fifth Third Bancorp Purchases 51,767 Shares of Sunrun Inc. $RUN

Fifth Third Bancorp boosted its position in shares of Sunrun Inc. (NASDAQ:RUN) by 2,218.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,100 shares of the energy company’s stock after buying an additional 51,767 shares during the quarter. Fifth Third Bancorp’s holdings in Sunrun were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RUN. Invesco Ltd. grew its holdings in Sunrun by 26.6% in the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after acquiring an additional 1,231,628 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Sunrun by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after acquiring an additional 205,627 shares during the last quarter. Contour Asset Management LLC purchased a new stake in shares of Sunrun during the fourth quarter worth about $98,010,000. Voloridge Investment Management LLC boosted its holdings in shares of Sunrun by 47.3% during the fourth quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock worth $63,025,000 after purchasing an additional 1,100,666 shares during the period. Finally, Erste Asset Management GmbH grew its stake in shares of Sunrun by 10.7% in the fourth quarter. Erste Asset Management GmbH now owns 3,412,900 shares of the energy company’s stock worth $67,582,000 after purchasing an additional 330,666 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In related news, CRO Paul S. Dickson sold 15,613 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.18, for a total value of $205,779.34. Following the sale, the executive directly owned 839,539 shares of the company’s stock, valued at $11,065,124.02. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 9,897 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $130,541.43. Following the completion of the transaction, the insider owned 461,715 shares of the company’s stock, valued at approximately $6,090,020.85. This trade represents a 2.10% 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. Insiders sold 223,045 shares of company stock valued at $3,081,335 over the last 90 days. 3.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RUN. UBS Group reduced their price target on Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. The Goldman Sachs Group reissued a “buy” rating and set a $18.00 target price on shares of Sunrun in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $17.00 price target on shares of Sunrun in a research note on Friday, May 8th. Citigroup cut their price target on shares of Sunrun from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Finally, TD Cowen reduced their price objective on shares of Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.81.

Sunrun Stock Performance

Sunrun stock opened at $9.98 on Tuesday. Sunrun Inc. has a fifty-two week low of $9.01 and a fifty-two week high of $22.44. The stock’s 50 day simple moving average is $13.13 and its two-hundred day simple moving average is $14.62. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 4.69 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.67. The firm had revenue of $722.23 million during the quarter, compared to analyst estimates of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business’s revenue was up 43.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, analysts expect that Sunrun Inc. will post 1.01 earnings per share for the current fiscal year.

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.