Brandywine Global Investment Management LLC Purchases 119,142 Shares of 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 holdings in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 28.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 538,852 shares of the company's stock after acquiring an additional 119,142 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.36% of Resideo Technologies worth $9,538,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of REZI. Boston Partners boosted its position in Resideo Technologies by 1.6% during the 1st quarter. Boston Partners now owns 9,954,419 shares of the company's stock worth $175,640,000 after buying an additional 156,536 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Resideo Technologies by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,205,405 shares of the company's stock valued at $145,234,000 after acquiring an additional 223,063 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Resideo Technologies by 32.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,320,863 shares of the company's stock valued at $53,496,000 after acquiring an additional 567,800 shares in the last quarter. Nuveen LLC bought a new stake in Resideo Technologies during the 1st quarter valued at $34,239,000. Finally, Northern Trust Corp increased its stake in Resideo Technologies by 14.3% during the 4th quarter. Northern Trust Corp now owns 1,917,077 shares of the company's stock valued at $44,189,000 after purchasing an additional 239,967 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Resideo Technologies Stock Performance

NYSE:REZI traded up $0.0620 on Thursday, hitting $32.1120. The stock had a trading volume of 2,481,802 shares, compared to its average volume of 1,193,865. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -5.88 and a beta of 2.16. The company has a quick ratio of 0.63, a current ratio of 1.00 and a debt-to-equity ratio of 0.93. The business's 50-day simple moving average is $25.00 and its two-hundred day simple moving average is $20.96. Resideo Technologies, Inc. has a 52-week low of $14.18 and a 52-week high of $33.03.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same period last year, the firm posted $0.62 earnings per share. The business'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. As a group, research analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jay L. Geldmacher sold 47,500 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $31.29, for a total value of $1,486,275.00. Following the transaction, the chief executive officer directly owned 519,689 shares of the company's stock, valued at approximately $16,261,068.81. The trade was a 8.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Channel Holdings Ii L.P. Cd&R purchased 4,477,919 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of $22.33 per share, for a total transaction of $99,991,931.27. Following the completion of the acquisition, the insider owned 10,232,420 shares in the company, valued at $228,489,938.60. This represents a 77.82% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 6,378,066 shares of company stock valued at $155,873,011 and sold 132,688 shares valued at $3,976,654. Corporate insiders own 1.50% of the company's stock.

Analyst Ratings Changes

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

About Resideo Technologies

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.