Piper Sandler Lowers Sunrun Rating Amid Shift in Institutional Ownership
Fintel reports that on November 22, 2024, Piper Sandler downgraded their outlook for Sunrun (WBAG:RUN) from Overweight to Neutral.
Current Institutional Sentiment
There are now 784 funds or institutions with stakes in Sunrun, marking an increase of 20 owners, or 2.62%, in the last quarter. The average portfolio weight for all funds invested in RUN is 0.22%, which reflects a 12.72% uptick. Over the past three months, the total shares held by institutions rose by 3.85%, amounting to 288,702K shares.
BlackRock has increased its holdings to 42,261K shares, representing 18.84% ownership. This is an increase from their previous 41,400K shares, which translates to a rise of 2.04%. Over the last quarter, BlackRock boosted its portfolio allocation in RUN by 44.17%.
Meanwhile, IJR – iShares Core S&P Small-Cap ETF now holds 14,335K shares, representing 6.39% ownership, a significant increase from having no shares reported previously, indicating a 100.00% rise.
In contrast, Orbis Allan Gray reduced its stake to 11,247K shares, or 5.01% ownership, down from 13,896K shares, marking a decrease of 23.55%. This represents a 31.44% reduction in their portfolio allocation in RUN over the last quarter.
Grantham, Mayo, Van Otterloo & Co. also pulled back, decreasing its holdings to 11,119K shares, or 4.96% ownership, down from 16,311K shares, a 46.70% decrease in shares owned. Their portfolio allocation in RUN was trimmed by 3.67% in the last quarter.
Conversely, Greenvale Capital LLP’s holdings decreased from 11,750K shares to 8,983K shares, representing a drop of 30.80%. However, they still increased their portfolio allocation in RUN by 5.85% during the last quarter.
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