Resideo Technologies (NYSE:REZI) Major Shareholder Buys $3,514,260.00 in Stock

Key Points

• Channel Holdings Ii L.P. Cd&R increased its stake in Resideo Technologies, acquiring 111,000 shares at an average price of $31.66 per share, totaling approximately $3.51 million.
• The company reported $1.94 billion in revenue for the last quarter, exceeding analyst expectations and showing a year-over-year revenue increase of 22.3%.
• Analysts have recently upgraded Resideo Technologies' ratings, with Morgan Stanley increasing the target price from $24.00 to $35.00, reflecting growing optimism about the company's financial performance.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) major shareholder Channel Holdings Ii L.P. Cd&R purchased 111,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $31.66 per share, for a total transaction of $3,514,260.00. Following the purchase, the insider owned 12,132,567 shares in the company, valued at approximately $384,117,071.22. The trade was a 0.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Channel Holdings Ii L.P. Cd&R also recently made the following trade(s):

• On Thursday, August 21st, Channel Holdings Ii L.P. Cd&R purchased 250,000 shares of Resideo Technologies stock. The stock was acquired at an average cost of $32.16 per share, for a total transaction of $8,040,000.00.
• On Wednesday, August 20th, Channel Holdings Ii L.P. Cd&R purchased 297,000 shares of Resideo Technologies stock. The stock was acquired at an average cost of $31.94 per share, for a total transaction of $9,486,180.00.
• On Tuesday, August 19th, Channel Holdings Ii L.P. Cd&R bought 135,641 shares of Resideo Technologies stock. The shares were purchased at an average cost of $32.41 per share, for a total transaction of $4,396,124.81.
• On Thursday, August 14th, Channel Holdings Ii L.P. Cd&R bought 203,161 shares of Resideo Technologies stock. The shares were purchased at an average cost of $31.89 per share, for a total transaction of $6,478,804.29.
• On Friday, August 15th, Channel Holdings Ii L.P. Cd&R bought 339,863 shares of Resideo Technologies stock. The shares were purchased at an average cost of $31.42 per share, for a total transaction of $10,678,495.46.
• On Tuesday, August 12th, Channel Holdings Ii L.P. Cd&R bought 339,728 shares of Resideo Technologies stock. The shares were purchased at an average cost of $30.75 per share, for a total transaction of $10,446,636.00.
• On Monday, August 11th, Channel Holdings Ii L.P. Cd&R bought 457,508 shares of Resideo Technologies stock. The shares were purchased at an average cost of $27.34 per share, for a total transaction of $12,508,268.72.
• On Friday, August 8th, Channel Holdings Ii L.P. Cd&R bought 448,887 shares of Resideo Technologies stock. The shares were purchased at an average cost of $27.30 per share, for a total transaction of $12,254,615.10.
• On Friday, July 25th, Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of Resideo Technologies stock. The shares were purchased at an average cost of $22.33 per share, for a total transaction of $99,991,931.27.

Resideo Technologies Trading Up 5.9%

REZI traded up $1.8860 during mid-day trading on Friday, hitting $33.9960. 2,109,973 shares of the stock were exchanged, compared to its average volume of 2,163,590. The firm's fifty day moving average is $25.49 and its two-hundred day moving average is $21.10. Resideo Technologies, Inc. has a 1-year low of $14.18 and a 1-year high of $34.25. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The company has a market cap of $5.06 billion, a PE ratio of -6.23 and a beta of 2.16.

Resideo Technologies (NYSE:REZI - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.12. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company earned $0.62 EPS. Resideo Technologies's revenue was up 22.3% on a year-over-year basis. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. Equities analysts forecast that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Resideo Technologies

A number of hedge funds have recently bought and sold shares of REZI. Clayton Dubilier & Rice LLC acquired a new stake in shares of Resideo Technologies during the 2nd quarter worth about $127,290,000. Nuveen LLC acquired a new stake in shares of Resideo Technologies during the 1st quarter worth about $34,239,000. Norges Bank acquired a new stake in shares of Resideo Technologies during the 2nd quarter worth about $40,374,000. Ophir Asset Management Pty Ltd acquired a new stake in shares of Resideo Technologies during the 2nd quarter worth about $35,419,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Resideo Technologies by 9.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 8,196,828 shares of the company's stock worth $145,084,000 after acquiring an additional 683,714 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on REZI shares. Morgan Stanley raised Resideo Technologies from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $24.00 to $35.00 in a research note on Tuesday, August 12th. JPMorgan Chase & Co. increased their price target on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Finally, Oppenheimer raised Resideo Technologies from a "market perform" rating to an "outperform" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.00.

Resideo Technologies Company Profile

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.