Man Group plc grew its holdings in Sunnova Energy International Inc. (NYSE:NOVA) by 57.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 206,446 shares of the company’s stock after purchasing an additional 75,460 shares during the quarter. Man Group plc’s holdings in Sunnova Energy International were worth $8,427,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. boosted its stake in Sunnova Energy International by 32.3% in the first quarter. BlackRock Inc. now owns 12,673,336 shares of the company’s stock worth $517,325,000 after purchasing an additional 3,092,136 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Sunnova Energy International by 16.3% in the 1st quarter. Handelsbanken Fonder AB now owns 3,767,554 shares of the company’s stock valued at $153,792,000 after buying an additional 526,760 shares during the last quarter. Avalon Investment & Advisory increased its stake in shares of Sunnova Energy International by 2.9% in the 1st quarter. Avalon Investment & Advisory now owns 2,269,347 shares of the company’s stock valued at $92,635,000 after buying an additional 64,104 shares during the period. TimesSquare Capital Management LLC raised its position in shares of Sunnova Energy International by 3.9% during the first quarter. TimesSquare Capital Management LLC now owns 1,826,595 shares of the company’s stock worth $74,562,000 after acquiring an additional 67,965 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Sunnova Energy International by 14.6% in the first quarter. Geode Capital Management LLC now owns 1,003,888 shares of the company’s stock valued at $40,978,000 after acquiring an additional 127,768 shares during the last quarter. 92.07% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on NOVA. JPMorgan Chase & Co. boosted their price objective on Sunnova Energy International from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday. Guggenheim began coverage on Sunnova Energy International in a report on Wednesday, June 2nd. They set a “buy” rating and a $51.00 price objective for the company. KeyCorp dropped their price objective on Sunnova Energy International from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, May 25th. Evercore ISI began coverage on shares of Sunnova Energy International in a research report on Monday, April 26th. They set an “outperform” rating and a $52.00 target price for the company. Finally, Raymond James upgraded shares of Sunnova Energy International from an “outperform” rating to a “strong-buy” rating and set a $50.00 target price for the company in a research report on Wednesday, July 7th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $52.33.
Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, April 28th. The company reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.03. Sunnova Energy International had a negative net margin of 124.34% and a negative return on equity of 7.31%. The business had revenue of $41.28 million during the quarter, compared to analysts’ expectations of $42.82 million. As a group, sell-side analysts forecast that Sunnova Energy International Inc. will post -1.11 earnings per share for the current fiscal year.
In related news, insider Meghan Nutting sold 5,000 shares of the stock in a transaction that occurred on Friday, May 21st. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now directly owns 14,620 shares of the company’s stock, valued at approximately $438,600. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by corporate insiders.
Sunnova Energy International Company Profile
Sunnova Energy International, Inc engages in providing solar and energy storage services. It also offers services to customers who purchased their solar energy system through unaffiliated third parties. The company was founded by William J. (John) Berger on October 22, 2012 and is headquartered in Houston, TX.
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