State of New Jersey Common Pension Fund D Purchases New Shares in Sunrun Inc. $RUN

State of New Jersey Common Pension Fund D acquired a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 144,305 shares of the energy company’s stock, valued at approximately $2,495,000.

Several other institutional investors have also recently made changes to their positions in RUN. Royal Bank of Canada boosted its holdings in Sunrun by 5.1% during the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock worth $3,672,000 after purchasing an additional 30,175 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Sunrun by 47.8% during the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock valued at $192,000 after acquiring an additional 10,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sunrun by 2.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock worth $1,397,000 after purchasing an additional 5,882 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Sunrun by 511.0% in the 1st quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock valued at $158,000 after purchasing an additional 22,603 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Sunrun by 45.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after purchasing an additional 718,955 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

RUN has been the subject of several research reports. TD Cowen increased their price target on shares of Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Sunrun in a research note on Thursday, January 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Sunrun in a research note on Wednesday, January 21st. Raymond James Financial started coverage on Sunrun in a research report on Monday, January 12th. They issued a “market perform” rating for the company. Finally, Morgan Stanley increased their price target on Sunrun from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.99.

Insiders Place Their Bets

In other Sunrun news, CFO Danny Abajian sold 7,190 shares of Sunrun stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total transaction of $127,982.00. Following the completion of the transaction, the chief financial officer owned 405,518 shares of the company’s stock, valued at $7,218,220.40. The trade was a 1.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward Harris Fenster sold 163,844 shares of the 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 completion of the sale, the director directly 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 SEC filing for this sale provides additional information. Insiders have sold 518,800 shares of company stock worth $9,903,520 over the last quarter. Insiders own 3.37% of the company’s stock.

Sunrun Price Performance

Sunrun stock opened at $20.28 on Friday. The firm has a market capitalization of $4.71 billion, a P/E ratio of -1.81 and a beta of 2.36. Sunrun Inc. has a one year low of $5.38 and a one year high of $22.44. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.46 and a quick ratio of 1.06. The business has a fifty day moving average price of $19.02 and a 200-day moving average price of $18.09.

Sunrun Company 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.