Louisiana State Employees Retirement System Makes New Investment in Sunrun Inc. (NASDAQ:RUN)

Louisiana State Employees Retirement System acquired a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 61,000 shares of the energy company’s stock, valued at approximately $1,197,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC raised its position in Sunrun by 35.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,182,106 shares of the energy company’s stock valued at $178,127,000 after purchasing an additional 3,748,696 shares during the period. Deutsche Bank AG raised its position in Sunrun by 112.9% in the third quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock valued at $27,969,000 after purchasing an additional 1,180,823 shares during the period. Robeco Schweiz AG raised its position in Sunrun by 35.8% in the third quarter. Robeco Schweiz AG now owns 3,581,300 shares of the energy company’s stock valued at $44,981,000 after purchasing an additional 945,000 shares during the period. Electron Capital Partners LLC raised its position in Sunrun by 53.4% in the third quarter. Electron Capital Partners LLC now owns 2,212,749 shares of the energy company’s stock valued at $27,792,000 after purchasing an additional 770,234 shares during the period. Finally, Invesco Ltd. raised its position in Sunrun by 6.2% in the third quarter. Invesco Ltd. now owns 7,137,991 shares of the energy company’s stock valued at $89,653,000 after purchasing an additional 416,747 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RUN. Mizuho reduced their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday. Truist Financial restated a “hold” rating and issued a $14.00 target price (down previously from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Susquehanna reiterated a “positive” rating and issued a $25.00 price objective on shares of Sunrun in a report on Friday, April 5th. Piper Sandler cut their price objective on Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Finally, Janney Montgomery Scott downgraded Sunrun from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.26.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $10.05 on Tuesday. The stock’s 50-day moving average is $12.22 and its two-hundred day moving average is $13.20. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -1.36 and a beta of 2.46. Sunrun Inc. has a 1-year low of $8.43 and a 1-year high of $23.85. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.26 and a quick ratio of 0.96.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The business had revenue of $516.59 million during the quarter, compared to analysts’ expectations of $499.74 million. Analysts forecast that Sunrun Inc. will post -1.74 EPS for the current fiscal year.

Insider Activity

In other news, insider Jeanna Steele sold 8,187 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.11, for a total value of $99,144.57. Following the transaction, the insider now owns 239,724 shares in the company, valued at approximately $2,903,057.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Edward Harris Fenster sold 172,920 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the transaction, the director now owns 1,261,317 shares in the company, valued at approximately $15,072,738.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeanna Steele sold 8,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $12.11, for a total value of $99,144.57. Following the transaction, the insider now owns 239,724 shares in the company, valued at approximately $2,903,057.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,760 shares of company stock worth $3,615,990. 3.76% of the stock is currently owned by insiders.

Sunrun Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.