Algert Global LLC Has $439,000 Holdings in Resideo Technologies, Inc. $REZI

Key Points

• Algert Global LLC cut its Resideo Technologies stake by 86.4% in the second quarter, selling 89,870 shares and retaining 14,100 shares worth approximately $439,000. Institutional investors collectively own 91.71% of the company.
• Analyst sentiment is mixed, with ratings ranging from strong sell to outperform. The stock has an average “Hold” rating and a consensus price target of $41.00, well above its reported $19.65 share price.
• Company insiders have recently bought shares, including CEO Thomas Surran’s 15,000-share purchase and SVP Amit Mehta’s 10,928-share purchase. Resideo also exceeded quarterly earnings expectations, reporting $0.83 EPS versus the $0.47 consensus and $1.98 billion in revenue.

Algert Global LLC cut its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 86.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,100 shares of the company's stock after selling 89,870 shares during the period. Algert Global LLC's holdings in Resideo Technologies were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Danske Bank A S raised its stake in shares of Resideo Technologies by 600.0% during the 4th quarter. Danske Bank A S now owns 700 shares of the company's stock valued at $25,000 after purchasing an additional 600 shares during the period. Larson Financial Group LLC grew its holdings in shares of Resideo Technologies by 283.8% during the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company's stock valued at $25,000 after purchasing an additional 420 shares during the last quarter. Allworth Financial LP bought a new stake in Resideo Technologies in the second quarter worth $28,000. McMillan Office Inc. bought a new position in Resideo Technologies during the 4th quarter worth approximately $33,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Resideo Technologies in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 91.71% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on REZI shares. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They set a "neutral" rating and a $30.00 target price on the stock. Oppenheimer reissued an "outperform" rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Weiss Ratings upgraded Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, August 14th. Morgan Stanley dropped their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. Finally, Zacks Research downgraded Resideo Technologies from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.00.

Insider Activity at Resideo Technologies

In related news, SVP Amit Ashvin Mehta acquired 10,928 shares of Resideo Technologies stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the completion of the transaction, the senior vice president directly owned 57,362 shares in the company, valued at approximately $1,186,246.16. This represents a 23.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas A. Surran bought 15,000 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the acquisition, the chief executive officer directly owned 338,573 shares of the company's stock, valued at approximately $6,927,203.58. This represents a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 41,245 shares of company stock valued at $848,115. 1.60% of the stock is owned by company insiders.

Resideo Technologies Trading Up 0.1%

Shares of NYSE:REZI opened at $19.65 on Monday. The stock has a 50 day moving average of $29.21 and a 200 day moving average of $32.88. The company has a market cap of $2.98 billion, a PE ratio of 8.69 and a beta of 1.63. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. Resideo Technologies, Inc. has a 12-month low of $18.96 and a 12-month high of $45.29.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.36. The company had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The firm's revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 EPS. As a group, equities research analysts expect that Resideo Technologies, Inc. will post 2.5 EPS for the current year.

Resideo Technologies 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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