Mitsubishi UFJ Asset Management Co. Ltd. Makes New $849,000 Investment in Sunrun Inc. $RUN

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Sunrun Inc. (NASDAQ:RUN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 63,460 shares of the energy company’s stock, valued at approximately $849,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RUN. Farther Finance Advisors LLC grew its position in shares of Sunrun by 156.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after acquiring an additional 885 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sunrun in the 4th quarter worth approximately $27,000. Hantz Financial Services Inc. raised its holdings in shares of Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after purchasing an additional 564 shares during the period. Kestra Advisory Services LLC purchased a new position in Sunrun in the fourth quarter valued at approximately $30,000. Finally, Zions Bancorporation National Association UT purchased a new position in Sunrun in the fourth quarter valued at approximately $31,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Stock Performance

NASDAQ:RUN opened at $9.16 on Friday. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. Sunrun Inc. has a 52-week low of $8.61 and a 52-week high of $22.44. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 6.19 and a beta of 2.35. The business’s fifty day moving average is $11.47 and its 200 day moving average is $13.46.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $746.87 million. During the same quarter in the prior year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 52.8% on a year-over-year basis. Research analysts predict that Sunrun Inc. will post 1.13 EPS for the current year.

Insider Activity

In other news, CEO Mary Powell sold 23,985 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $316,362.15. Following the sale, the chief executive officer directly owned 1,111,535 shares in the company, valued at $14,661,146.65. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 15,613 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.18, for a total transaction of $205,779.34. Following the completion of the sale, the executive directly owned 839,539 shares in the company, valued at approximately $11,065,124.02. The trade was a 1.83% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 223,045 shares of company stock valued at $2,934,835. 3.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RUN shares. The Goldman Sachs Group reduced their price objective on Sunrun from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Citigroup lowered their target price on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Roth Capital reaffirmed a “buy” rating on shares of Sunrun in a research report on Thursday, July 9th. Royal Bank Of Canada cut their price target on Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, UBS Group decreased their price objective on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.81.

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.