Tortoise Capital Advisors L.L.C. Has $17.41 Million Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

Tortoise Capital Advisors L.L.C. raised its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 293.8% in the first quarter, Holdings Channel.com reports. The firm owned 287,866 shares of the energy company’s stock after buying an additional 214,772 shares during the period. Tortoise Capital Advisors L.L.C.’s holdings in Sunrun were worth $17,410,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Sunrun during the 4th quarter worth approximately $83,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sunrun during the 1st quarter worth approximately $5,650,000. Envestnet Asset Management Inc. lifted its position in shares of Sunrun by 48.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,305 shares of the energy company’s stock worth $1,107,000 after buying an additional 5,994 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Sunrun during the 4th quarter worth approximately $18,767,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Sunrun by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,506,279 shares of the energy company’s stock worth $91,101,000 after buying an additional 13,415 shares in the last quarter. Institutional investors and hedge funds own 92.01% of the company’s stock.

Shares of RUN traded down $1.01 during mid-day trading on Thursday, reaching $51.99. 64,238 shares of the stock traded hands, compared to its average volume of 7,363,311. The business has a fifty day simple moving average of $48.37. The firm has a market cap of $10.60 billion, a P/E ratio of -63.85 and a beta of 2.07. The company has a current ratio of 1.59, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80. Sunrun Inc. has a 1 year low of $35.79 and a 1 year high of $100.93.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 5th. The energy company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). The firm had revenue of $334.79 million for the quarter, compared to analysts’ expectations of $313.42 million. Sunrun had a negative net margin of 16.17% and a negative return on equity of 0.21%. Equities analysts anticipate that Sunrun Inc. will post -0.16 EPS for the current fiscal year.

Several research firms have commented on RUN. Truist dropped their target price on shares of Sunrun from $95.00 to $81.00 in a research report on Friday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Sunrun from $81.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Investment Research cut shares of Sunrun from a “hold” rating to a “sell” rating in a report on Wednesday, June 16th. Piper Sandler raised shares of Sunrun from a “neutral” rating to an “overweight” rating and set a $77.00 price target on the stock in a report on Thursday, April 15th. Finally, Truist Securities lowered their price target on shares of Sunrun from $95.00 to $81.00 in a report on Friday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $79.78.

In related news, General Counsel Jeanna Steele sold 3,334 shares of the company’s stock in a transaction on Monday, June 21st. The shares were sold at an average price of $51.50, for a total value of $171,701.00. Following the completion of the transaction, the general counsel now directly owns 116,698 shares in the company, valued at $6,009,947. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Arthur Vonreichbauer sold 10,054 shares of the business’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $59.47, for a total transaction of $597,911.38. Following the completion of the sale, the chief financial officer now directly owns 185,350 shares of the company’s stock, valued at $11,022,764.50. The disclosure for this sale can be found here. Insiders have sold a total of 191,293 shares of company stock valued at $8,928,488 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Sunrun Company Profile

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.

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Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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