Ancora Advisors LLC Invests $13.55 Million in Resideo Technologies, Inc. $REZI

Key Points

• Ancora Advisors purchased 435,550 Resideo Technologies shares worth approximately $13.55 million, representing about 0.29% of the company. Institutional investors collectively own 91.71% of REZI.
• Analyst sentiment is mixed, with ratings ranging from strong sell to buy; the consensus rating is Hold with a $41 average price target.
• Resideo reported quarterly EPS of $0.83, exceeding the $0.47 consensus estimate, while revenue reached $1.98 billion. The stock opened at $19.31, near its one-year low of $18.96.

Ancora Advisors LLC purchased a new stake in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 435,550 shares of the company's stock, valued at approximately $13,546,000. Ancora Advisors LLC owned approximately 0.29% of Resideo Technologies as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in REZI. Royal Bank of Canada boosted its stake in shares of Resideo Technologies by 50.0% during the 1st quarter. Royal Bank of Canada now owns 49,395 shares of the company's stock worth $873,000 after acquiring an additional 16,467 shares in the last quarter. AQR Capital Management LLC grew its stake 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 valued at $2,233,000 after purchasing an additional 9,106 shares in the last quarter. Millennium Management LLC boosted its position in Resideo Technologies by 1,123.6% during the first quarter. Millennium Management LLC now owns 263,821 shares of the company's stock valued at $4,670,000 after purchasing an additional 242,260 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Resideo Technologies by 6.4% in the 1st 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 purchasing an additional 26,254 shares during the last quarter. Institutional investors own 91.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on REZI shares. Zacks Research lowered shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 9th. Seaport Research Partners started coverage on Resideo Technologies in a report on Wednesday, July 1st. They set a "buy" rating and a $55.00 price target for the company. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They set a "neutral" rating and a $30.00 price objective for the company. Morgan Stanley reduced their target price on Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, July 13th. Finally, Oppenheimer restated an "outperform" rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.00.

Insider Activity at Resideo Technologies

In other news, SVP Joshua Peter Foster purchased 15,317 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the transaction, the senior vice president directly owned 183,509 shares of the company's stock, valued at approximately $3,776,615.22. The trade was a 9.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, SVP Amit Ashvin Mehta acquired 10,928 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average cost of $20.68 per share, for a total transaction of $225,991.04. Following the purchase, the senior vice president directly owned 57,362 shares in the company, valued at $1,186,246.16. This trade represents a 23.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 41,245 shares of company stock worth $848,115 over the last ninety days. Company insiders own 1.60% of the company's stock.

Resideo Technologies Trading Down 1.6%

REZI opened at $19.31 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The firm has a 50-day moving average price of $28.97 and a two-hundred day moving average price of $32.76. Resideo Technologies, Inc. has a 1-year low of $18.96 and a 1-year high of $45.29. The stock has a market capitalization of $2.93 billion, a PE ratio of 8.54 and a beta of 1.63.

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

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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