435,550 Shares in Resideo Technologies, Inc. $REZI Acquired by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC acquired 435,550 Resideo Technologies shares worth approximately $13.5 million, giving it a 0.29% stake. Institutional investors collectively own 91.71% of the company.
• Resideo insiders purchased 41,245 shares valued at $848,115 over the past three months, including significant buys by senior vice presidents Joshua Foster and Amit Mehta.
• The company exceeded quarterly expectations, reporting $0.83 in adjusted earnings per share versus the $0.47 consensus estimate and revenue of $1.98 billion. Despite mixed analyst views, Resideo carries a consensus “Hold” rating with an average $41 price target.

Ancora Advisors LLC acquired a new stake in Resideo Technologies, Inc. (NYSE:REZI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 435,550 shares of the company's stock, valued at approximately $13,546,000. Ancora Advisors LLC owned about 0.29% of Resideo Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its stake in Resideo Technologies by 50.0% in the 1st quarter. Royal Bank of Canada now owns 49,395 shares of the company's stock valued at $873,000 after buying an additional 16,467 shares in the last quarter. AQR Capital Management LLC raised its holdings in Resideo Technologies by 58.9% during the 1st quarter. AQR Capital Management LLC now owns 122,734 shares of the company's stock valued at $2,172,000 after acquiring an additional 45,517 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Resideo Technologies by 7.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,161 shares of the company's stock worth $2,233,000 after acquiring an additional 9,106 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Resideo Technologies by 1,123.6% in the first quarter. Millennium Management LLC now owns 263,821 shares of the company's stock worth $4,670,000 after acquiring an additional 242,260 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Resideo Technologies by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company's stock worth $7,773,000 after acquiring an additional 26,254 shares during the period. 91.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Resideo Technologies

In related news, SVP Joshua Peter Foster acquired 15,317 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the transaction, the senior vice president owned 183,509 shares in the company, valued at $3,776,615.22. This represents a 9.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Amit Ashvin Mehta acquired 10,928 shares of the company's stock in a transaction dated Monday, August 17th. The shares were bought at an average cost of $20.68 per share, with a total value of $225,991.04. Following the completion of the acquisition, the senior vice president directly owned 57,362 shares in the company, valued at $1,186,246.16. The trade was a 23.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 41,245 shares of company stock worth $848,115 over the last three months. 1.60% of the stock is owned by insiders.

Resideo Technologies Price Performance

NYSE:REZI opened at $19.91 on Wednesday. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 8.81 and a beta of 1.63. Resideo Technologies, Inc. has a 52-week low of $18.96 and a 52-week high of $45.29. The stock has a fifty day moving average of $29.90 and a 200 day moving average of $33.21. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings raised Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, August 14th. Seaport Research Partners initiated coverage on Resideo Technologies in a report on Wednesday, July 1st. They set a "buy" rating and a $55.00 target price for the company. Oppenheimer reiterated an "outperform" rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Zacks Research downgraded shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They issued a "neutral" rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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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