Algert Global LLC Has $7.04 Million Holdings in Resideo Technologies, Inc. (NYSE:REZI)

Algert Global LLC grew its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 86.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 305,400 shares of the company's stock after acquiring an additional 141,650 shares during the quarter. Algert Global LLC owned 0.21% of Resideo Technologies worth $7,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of REZI. Pacer Advisors Inc. acquired a new stake in shares of Resideo Technologies during the 4th quarter worth $122,145,000. Boston Partners increased its holdings in Resideo Technologies by 25.1% in the 4th quarter. Boston Partners now owns 9,797,883 shares of the company's stock valued at $225,865,000 after buying an additional 1,966,706 shares during the period. Norges Bank bought a new position in Resideo Technologies in the 4th quarter valued at about $40,596,000. Federated Hermes Inc. acquired a new position in shares of Resideo Technologies in the 4th quarter valued at approximately $35,542,000. Finally, Pembroke Management LTD lifted its holdings in shares of Resideo Technologies by 126.8% during the 4th quarter. Pembroke Management LTD now owns 667,421 shares of the company's stock worth $15,384,000 after acquiring an additional 373,133 shares during the period. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut shares of Resideo Technologies from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $31.00 to $16.00 in a research note on Tuesday, April 22nd.

Resideo Technologies Price Performance

Resideo Technologies stock traded down $0.25 during midday trading on Friday, reaching $19.80. The company's stock had a trading volume of 1,098,239 shares, compared to its average volume of 959,750. The company has a current ratio of 1.82, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The stock has a market cap of $2.94 billion, a PE ratio of 31.43 and a beta of 2.23. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $28.28. The business has a 50-day moving average price of $17.05 and a 200-day moving average price of $21.11.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.08). Resideo Technologies had a return on equity of 11.12% and a net margin of 1.69%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. On average, sell-side analysts predict that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R bought 5,754,501 shares of Resideo Technologies stock in a transaction on Friday, May 9th. The shares were purchased at an average cost of $17.38 per share, with a total value of $100,013,227.38. Following the acquisition, the insider now directly owns 5,754,501 shares of the company's stock, valued at $100,013,227.38. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

About Resideo Technologies

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.