Barrow Hanley Mewhinney & Strauss LLC Acquires New Stake in Resideo Technologies, Inc. $REZI

Key Points

• Barrow Hanley Mewhinney & Strauss LLC acquired 264,981 Resideo Technologies shares worth approximately $8.24 million, giving it a 0.17% stake. Institutional investors collectively own 91.71% of REZI.
• Analyst views remain mixed: the stock carries a consensus “Hold” rating with an average price target of $41, while targets range from $30 to $55.
• Resideo exceeded quarterly expectations, reporting $0.83 in EPS versus a $0.47 estimate and $1.98 billion in revenue. The CEO and a senior vice president also purchased shares, contributing to $848,115 in insider buying over the past 90 days.

Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Resideo Technologies, Inc. (NYSE:REZI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 264,981 shares of the company's stock, valued at approximately $8,241,000. Barrow Hanley Mewhinney & Strauss LLC owned 0.17% of Resideo Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in REZI. Swedbank AB grew its position in Resideo Technologies by 121.5% during the fourth quarter. Swedbank AB now owns 2,346,919 shares of the company's stock valued at $82,424,000 after buying an additional 1,287,162 shares during the period. Hsbc Holdings PLC raised its position in Resideo Technologies by 659.0% in the first quarter. Hsbc Holdings PLC now owns 50,832 shares of the company's stock worth $1,706,000 after acquiring an additional 44,135 shares during the period. Quantinno Capital Management LP raised its position in Resideo Technologies by 122.1% in the first quarter. Quantinno Capital Management LP now owns 98,948 shares of the company's stock worth $3,336,000 after acquiring an additional 54,390 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Resideo Technologies during the 1st quarter worth $1,497,000. Finally, Bank of America Corp DE boosted its stake in shares of Resideo Technologies by 8.4% during the 1st quarter. Bank of America Corp DE now owns 935,107 shares of the company's stock worth $31,522,000 after acquiring an additional 72,677 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on REZI. Seaport Research Partners initiated coverage on Resideo Technologies in a research note on Wednesday, July 1st. They issued a "buy" rating and a $55.00 price objective for the company. JPMorgan Chase & Co. began coverage on Resideo Technologies in a research report on Friday, August 7th. They set a "neutral" rating and a $30.00 target price on the stock. Morgan Stanley cut their price target on Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, July 13th. Weiss Ratings upgraded Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Resideo Technologies has a consensus rating of "Hold" and an average price target of $41.00.

Resideo Technologies Stock Performance

REZI opened at $20.31 on Monday. The firm has a market cap of $3.08 billion, a P/E ratio of 8.99 and a beta of 1.63. Resideo Technologies, Inc. has a 1-year low of $19.84 and a 1-year high of $45.29. The company has a 50 day simple moving average of $30.39 and a two-hundred day simple moving average of $33.44. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm earned $0.66 EPS. The company's revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that Resideo Technologies, Inc. will post 2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, CEO Thomas A. Surran bought 15,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the transaction, the chief executive officer owned 338,573 shares of the company's stock, valued at $6,927,203.58. This trade represents a 4.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joshua Peter Foster bought 15,317 shares of the firm'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 purchase, the senior vice president directly owned 183,509 shares in the company, valued at $3,776,615.22. This trade represents a 9.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 41,245 shares of company stock valued at $848,115 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

About Resideo Technologies

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.

Want to see what other hedge funds are holding REZI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Resideo Technologies, Inc. (NYSE:REZI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source