Brandywine Global Investment Management LLC Has $9.54 Million Position in Resideo Technologies, Inc. $REZI

Key Points

• Brandywine Global Investment Management LLC increased its stake in Resideo Technologies, Inc. by 28.4% in Q1, owning 538,852 shares worth approximately $9.5 million after acquiring an additional 119,142 shares.
• A significant number of institutional investors have also boosted their positions, with GAMMA Investing LLC increasing its stake by 1,296.4% during the same period, highlighting growing investor confidence.
• Wall Street analysts have upgraded their ratings on Resideo Technologies, with Morgan Stanley$35.00.

Brandywine Global Investment Management LLC increased its stake in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 28.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 538,852 shares of the company's stock after purchasing an additional 119,142 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.36% of Resideo Technologies worth $9,538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Resideo Technologies in the fourth quarter worth $28,000. IFP Advisors Inc lifted its stake in shares of Resideo Technologies by 20,133.3% in the 1st quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock valued at $43,000 after purchasing an additional 2,416 shares during the last quarter. Versant Capital Management Inc boosted its stake in 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 during the period. Sterling Capital Management LLC lifted its stake in Resideo Technologies by 705.9% in the fourth quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock worth $110,000 after purchasing an additional 4,165 shares during the last quarter. Finally, Natixis bought a new stake in shares of Resideo Technologies during the 4th quarter worth approximately $115,000. Hedge funds and other institutional investors own 91.71% of the company's stock.

Resideo Technologies Stock Up 6.2%

Shares of NYSE REZI traded up $1.9830 during mid-day trading on Friday, reaching $34.0930. The company had a trading volume of 945,123 shares, compared to its average volume of 1,197,287. The firm has a 50 day simple moving average of $25.22 and a two-hundred day simple moving average of $21.03. Resideo Technologies, Inc. has a 52-week low of $14.18 and a 52-week high of $34.25. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock has a market cap of $5.07 billion, a P/E ratio of -6.25 and a beta of 2.16.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. Sell-side analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Insiders Place Their Bets

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of the business's stock in a transaction on Friday, July 25th. The stock was bought at an average price of $22.33 per share, for a total transaction of $99,991,931.27. Following the completion of the transaction, the insider owned 10,232,420 shares in the company, valued at approximately $228,489,938.60. The trade was a 77.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders purchased 7,060,707 shares of company stock valued at $177,795,316 and sold 132,688 shares valued at $3,976,654. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Oppenheimer raised Resideo Technologies from a "market perform" rating to an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Finally, Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $24.00 to $35.00 in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Resideo Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Resideo Technologies Profile

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.