Resideo Technologies (NYSE:REZI) Major Shareholder Purchases $10,678,495.46 in Stock

Key Points

• Channel Holdings Ii L.P. Cd&R acquired 339,863 shares of Resideo Technologies at an average price of $31.42 per share, increasing its holdings to over 12 million shares.
• Resideo reported better-than-expected quarterly earnings with an EPS of $0.66 against a consensus estimate of $0.54, along with a revenue growth of 22.3% year-over-year.
• Analysts have recently upgraded their ratings on Resideo Technologies, with target prices raised by firms such as Morgan Stanley and Oppenheimer, indicating a positive outlook for the stock.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) major shareholder Channel Holdings Ii L.P. Cd&R purchased 339,863 shares of the business's stock in a transaction dated Friday, August 15th. The shares were purchased at an average price of $31.42 per share, for a total transaction of $10,678,495.46. Following the purchase, the insider owned 12,021,567 shares of the company's stock, valued at approximately $377,717,635.14. This trade represents a 2.91% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions 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 shares were purchased at an average price 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 shares were purchased at an average price 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 purchased 135,641 shares of Resideo Technologies stock. The shares were purchased at an average price 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 stock was bought at an average price of $31.89 per share, for a total transaction of $6,478,804.29.
• On Monday, August 18th, Channel Holdings Ii L.P. Cd&R bought 111,000 shares of Resideo Technologies stock. The stock was bought at an average price of $31.66 per share, for a total transaction of $3,514,260.00.
• On Tuesday, August 12th, Channel Holdings Ii L.P. Cd&R bought 339,728 shares of Resideo Technologies stock. The stock was bought at an average price 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 stock was bought at an average price 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 stock was bought at an average price 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 stock was bought at an average price of $22.33 per share, for a total transaction of $99,991,931.27.

Resideo Technologies Stock Up 5.9%

REZI traded up $1.8860 on Friday, hitting $33.9960. The company had a trading volume of 2,109,973 shares, compared to its average volume of 2,163,590. The stock has a fifty day moving average price of $25.49 and a 200-day moving average price of $21.10. Resideo Technologies, Inc. has a 12-month low of $14.18 and a 12-month high of $34.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 1.00. The stock has a market capitalization of $5.06 billion, a price-to-earnings 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, beating 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 company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. Analysts predict that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Boston Partners lifted its holdings in Resideo Technologies by 1.6% in the first quarter. Boston Partners now owns 9,954,419 shares of the company's stock valued at $175,640,000 after acquiring an additional 156,536 shares during the period. Ariel Investments LLC lifted its holdings in Resideo Technologies by 5.1% in the first quarter. Ariel Investments LLC now owns 9,664,671 shares of the company's stock valued at $171,065,000 after acquiring an additional 465,571 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Resideo Technologies by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,205,405 shares of the company's stock valued at $145,234,000 after acquiring an additional 223,063 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Resideo Technologies by 9.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 8,196,828 shares of the company's stock valued at $145,084,000 after acquiring an additional 683,714 shares during the period. Finally, Clayton Dubilier & Rice LLC acquired a new position in Resideo Technologies in the second quarter valued at approximately $127,290,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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