Resideo Technologies (NYSE:REZI) Major Shareholder Channel Holdings Ii L.P. Cd&R Purchases 339,863 Shares

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 bought 339,863 shares of the stock in a transaction on Friday, August 15th. The shares were bought at an average cost of $31.42 per share, with a total value of $10,678,495.46. Following the purchase, the insider owned 12,021,567 shares of the company's stock, valued at $377,717,635.14. This trade represents a 2.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% 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 14th, Channel Holdings Ii L.P. Cd&R purchased 203,161 shares of Resideo Technologies stock. The shares were acquired 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 acquired 111,000 shares of Resideo Technologies stock. The shares were bought at an average cost of $31.66 per share, with a total value of $3,514,260.00.
• On Tuesday, August 12th, Channel Holdings Ii L.P. Cd&R acquired 339,728 shares of Resideo Technologies stock. The shares were bought at an average cost of $30.75 per share, with a total value of $10,446,636.00.
• On Monday, August 11th, Channel Holdings Ii L.P. Cd&R acquired 457,508 shares of Resideo Technologies stock. The shares were bought at an average cost of $27.34 per share, with a total value of $12,508,268.72.
• On Friday, August 8th, Channel Holdings Ii L.P. Cd&R acquired 448,887 shares of Resideo Technologies stock. The shares were bought at an average cost of $27.30 per share, with a total value of $12,254,615.10.
• On Friday, July 25th, Channel Holdings Ii L.P. Cd&R acquired 4,477,919 shares of Resideo Technologies stock. The shares were bought at an average cost of $22.33 per share, with a total value of $99,991,931.27.

Resideo Technologies Stock Up 0.2%

Shares of Resideo Technologies stock traded up $0.0620 on Thursday, reaching $32.1120. 2,481,803 shares of the company were exchanged, compared to its average volume of 1,199,465. Resideo Technologies, Inc. has a 1-year low of $14.18 and a 1-year high of $33.03. The company has a market cap of $4.78 billion, a P/E ratio of -5.88 and a beta of 2.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63. The stock's 50 day moving average price is $25.00 and its 200-day moving average price is $20.96.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The business's revenue for the quarter 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. As a group, equities analysts forecast that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Resideo Technologies

Several hedge funds have recently modified their holdings of REZI. Clayton Dubilier & Rice LLC acquired a new stake in shares of Resideo Technologies in the 2nd quarter valued at approximately $127,290,000. Nuveen LLC acquired a new position in Resideo Technologies during the first quarter worth $34,239,000. Norges Bank acquired a new position in Resideo Technologies during the second quarter worth $40,374,000. Ophir Asset Management Pty Ltd acquired a new position in Resideo Technologies during the second quarter worth $35,419,000. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Resideo Technologies by 9.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 8,196,828 shares of the company's stock worth $145,084,000 after purchasing an additional 683,714 shares during the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

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.