Channel Holdings Ii L.P. Cd&R Acquires 457,508 Shares of Resideo Technologies, Inc. (NYSE:REZI) Stock

Key Points

• Channel Holdings II L.P. Cd&R acquired 457,508 shares of Resideo Technologies stock at an average price of $27.34, raising their total ownership in the company to approximately $304.5 million.
• Resideo Technologies reported a 22.3% year-over-year increase in revenue, along with earnings per share of $0.66, surpassing analyst estimates of $0.54.
• Analysts are optimistic about Resideo Technologies, with Morgan Stanley upgrading the stock to "overweight" and raising its target price from $24.00 to $35.00.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) major shareholder Channel Holdings Ii L.P. Cd&R acquired 457,508 shares of the firm's stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $27.34 per share, for a total transaction of $12,508,268.72. Following the completion of the transaction, the insider directly owned 11,138,815 shares in the company, valued at approximately $304,535,202.10. The trade was a 4.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's shares 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 Tuesday, August 12th, Channel Holdings Ii L.P. Cd&R purchased 339,728 shares of Resideo Technologies stock. The stock was bought at an average cost of $30.75 per share, for a total transaction of $10,446,636.00.
• On Friday, August 8th, Channel Holdings Ii L.P. Cd&R acquired 448,887 shares of Resideo Technologies stock. The shares were acquired 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 acquired 4,477,919 shares of Resideo Technologies stock. The shares were acquired at an average cost of $22.33 per share, for a total transaction of $99,991,931.27.

Resideo Technologies Stock Performance

Resideo Technologies stock traded up $3.79 during midday trading on Tuesday, reaching $31.26. 4,311,675 shares of the company's stock were exchanged, compared to its average volume of 1,597,355. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $31.59. 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 firm has a market cap of $4.65 billion, a price-to-earnings ratio of -5.73 and a beta of 2.16. The stock's 50-day simple moving average is $23.70 and its 200 day simple moving average is $20.55.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 earnings per share (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 company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The business's revenue was up 22.3% on a year-over-year basis. On average, analysts expect that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley upgraded 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 report on Tuesday. JPMorgan Chase & Co. increased their target price on Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Finally, Oppenheimer upgraded Resideo Technologies from a "market perform" rating to an "outperform" rating in a report on Wednesday, July 30th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in REZI. Quarry LP acquired a new position in shares of Resideo Technologies during the fourth quarter worth $28,000. IFP Advisors Inc increased its holdings in shares of Resideo Technologies by 20,133.3% during the first quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock worth $43,000 after buying an additional 2,416 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Resideo Technologies by 52.1% during the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock worth $56,000 after buying an additional 1,087 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Resideo Technologies during the first quarter worth $65,000. Finally, Sterling Capital Management LLC increased its holdings in shares of Resideo Technologies by 705.9% during the fourth quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock worth $110,000 after buying an additional 4,165 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

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.

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