Havemeyer Place LP Invests $1.14 Million in Sunrun Inc. $RUN

Havemeyer Place LP bought a new position in Sunrun Inc. (NASDAQ:RUN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 61,894 shares of the energy company’s stock, valued at approximately $1,139,000.

Several other institutional investors have also made changes to their positions in RUN. Norges Bank purchased a new position in shares of Sunrun in the fourth quarter worth approximately $62,169,000. Voloridge Investment Management LLC purchased a new position in shares of Sunrun in the third quarter worth approximately $40,193,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Sunrun by 132.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock worth $48,777,000 after acquiring an additional 1,609,803 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Sunrun in the third quarter worth approximately $21,427,000. Finally, Erste Asset Management GmbH increased its position in shares of Sunrun by 62.7% in the third quarter. Erste Asset Management GmbH now owns 3,082,234 shares of the energy company’s stock worth $54,778,000 after acquiring an additional 1,188,092 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Stock Performance

Shares of RUN opened at $13.35 on Monday. The company’s 50 day moving average price is $13.61 and its 200 day moving average price is $16.18. Sunrun Inc. has a 52 week low of $5.38 and a 52 week high of $22.44. The company has a market capitalization of $3.18 billion, a PE ratio of 6.27 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45.

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. The firm had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The firm’s revenue was up 43.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. Research analysts expect that Sunrun Inc. will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RUN shares. Oppenheimer lifted their target price on shares of Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. lowered their price objective on shares of Sunrun from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Glj Research reaffirmed a “sell” rating and set a $4.63 price objective on shares of Sunrun in a research report on Thursday, April 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $18.00 price objective on shares of Sunrun in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $17.00 price objective on shares of Sunrun in a research report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Sunrun currently has a consensus rating of “Hold” and a consensus target price of $18.48.

Insider Transactions at Sunrun

In other Sunrun news, CEO Mary Powell sold 193,002 shares of Sunrun stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $2,557,276.50. Following the completion of the sale, the chief executive officer directly owned 934,282 shares in the company, valued at $12,379,236.50. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 8,039 shares of Sunrun stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $13.67, for a total transaction of $109,893.13. Following the completion of the sale, the chief accounting officer owned 72,963 shares of the company’s stock, valued at $997,404.21. This trade represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 692,786 shares of company stock valued at $9,339,291. Insiders own 3.55% of the company’s stock.

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.