Principal Financial Group Inc. Decreases Position in Sunrun Inc. $RUN

Principal Financial Group Inc. trimmed its holdings in Sunrun Inc. (NASDAQ:RUN) by 10.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,127,533 shares of the energy company’s stock after selling 134,860 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Sunrun worth $15,289,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in Sunrun by 156.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after purchasing an additional 885 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sunrun in the 4th quarter valued at $27,000. Hantz Financial Services Inc. boosted 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 valued at $28,000 after buying an additional 564 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Sunrun in the 4th quarter valued at $30,000. Finally, Salomon & Ludwin LLC grew its position in shares of Sunrun by 49.2% in the 4th quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock valued at $31,000 after buying an additional 558 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Stock Down 5.2%

RUN stock opened at $10.38 on Friday. Sunrun Inc. has a one year low of $9.01 and a one year high of $22.44. 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 company has a fifty day moving average of $13.28 and a 200-day moving average of $14.74. The stock has a market capitalization of $2.48 billion, a PE ratio of 4.87 and a beta of 2.32.

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

Insiders Place Their Bets

In related news, CFO Danny Abajian sold 16,495 shares of Sunrun stock in a transaction that occurred on Monday, July 6th. The stock was 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 $5,543,994.42. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 company’s 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 transaction, the insider directly owned 461,715 shares in the company, valued at $6,090,020.85. This represents a 2.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 223,045 shares of company stock worth $3,081,335. Corporate insiders own 3.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Wall Street Zen lowered Sunrun from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Jefferies Financial Group cut their target price on Sunrun from $22.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. TD Cowen reduced their target price on Sunrun from $23.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $18.00 target price on shares of Sunrun in a research report on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Sunrun currently has an average rating of “Hold” and a consensus target price of $18.81.

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.