Amit Ashvin Mehta Acquires 10,928 Shares of Resideo Technologies (NYSE:REZI) Stock

Key Points

• Resideo SVP Amit Ashvin Mehta purchased 10,928 shares at an average price of $20.68, investing approximately $225,991. His direct holdings increased 23.53% to 57,362 shares.
• Resideo reported quarterly EPS of $0.83, exceeding estimates of $0.47, while revenue of $1.98 billion also topped forecasts and rose 2% year over year.
• Institutional investors own 91.71% of the company, while analyst sentiment remains mixed with an average “Hold” rating and a consensus price target of $41.00.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) SVP Amit Ashvin Mehta acquired 10,928 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was acquired at an average cost of $20.68 per share, for a total transaction of $225,991.04. Following the completion of the transaction, the senior vice president directly owned 57,362 shares in the company, valued at $1,186,246.16. This represents a 23.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Resideo Technologies Stock Up 1.2%

Resideo Technologies stock opened at $20.75 on Tuesday. Resideo Technologies, Inc. has a 12 month low of $20.10 and a 12 month high of $45.29. The stock has a fifty day simple moving average of $31.21 and a two-hundred day simple moving average of $33.82. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 9.18 and a beta of 1.63.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.36. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts predict that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.

Institutional Trading of Resideo Technologies

Several institutional investors and hedge funds have recently modified their holdings of REZI. BlackRock Inc. bought a new position in shares of Resideo Technologies in the second quarter worth about $673,214,000. Clayton Dubilier & Rice LLC boosted its position in shares of Resideo Technologies by 12.7% during the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company's stock worth $525,962,000 after acquiring an additional 1,689,758 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Resideo Technologies by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company's stock valued at $262,505,000 after acquiring an additional 64,613 shares in the last quarter. Franklin Resources Inc. grew its stake in Resideo Technologies by 51.4% during the fourth quarter. Franklin Resources Inc. now owns 2,860,308 shares of the company's stock valued at $100,454,000 after acquiring an additional 971,643 shares in the last quarter. Finally, Swedbank AB increased its holdings in Resideo Technologies by 13.6% in the 1st quarter. Swedbank AB now owns 2,665,123 shares of the company's stock valued at $89,841,000 after acquiring an additional 318,204 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, July 13th. Oppenheimer restated an "outperform" rating on shares of Resideo Technologies in a research report on Thursday. Zacks Research cut shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. assumed coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They issued a "neutral" rating and a $30.00 target price for the company. Finally, Seaport Research Partners initiated coverage on Resideo Technologies in a report on Wednesday, July 1st. They set a "buy" rating and a $55.00 price target on the stock. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $41.00.

Resideo Technologies Company Profile

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.

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