Charles Schwab Investment Management Inc. Acquires 8,303 Shares of Resideo Technologies, Inc. $REZI

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Resideo Technologies, Inc. by 0.5%, owning approximately 1.11% of the company, valued at around $29.27 million as of the most recent reporting period.
• Resideo Technologies reported better-than-expected earnings for the last quarter, with $0.66 earnings per share, surpassing analysts' estimates of $0.54, and a revenue increase of 22.3% year-over-year.
• Analysts have recently upgraded their ratings and price targets for Resideo Technologies, with Morgan Stanley increasing its target from $24.00 to $35.00, indicating positive sentiment around the stock.

Charles Schwab Investment Management Inc. raised its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,653,693 shares of the company's stock after purchasing an additional 8,303 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.11% of Resideo Technologies worth $29,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Resideo Technologies by 2.6% during the first quarter. Principal Financial Group Inc. now owns 794,943 shares of the company's stock worth $14,070,000 after acquiring an additional 20,301 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Resideo Technologies by 1,296.4% during the first quarter. GAMMA Investing LLC now owns 54,711 shares of the company's stock worth $968,000 after acquiring an additional 50,793 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Resideo Technologies by 2.6% during the first quarter. Natixis Advisors LLC now owns 227,759 shares of the company's stock worth $4,031,000 after acquiring an additional 5,674 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Resideo Technologies by 1,261.2% during the first quarter. Exchange Traded Concepts LLC now owns 7,160 shares of the company's stock worth $127,000 after acquiring an additional 6,634 shares during the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Resideo Technologies by 705.9% during the fourth quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock worth $110,000 after acquiring an additional 4,165 shares during the last quarter. Institutional investors own 91.71% of the company's stock.

Resideo Technologies Trading Up 5.9%

Shares of Resideo Technologies stock traded up $1.8860 during trading on Friday, reaching $33.9960. 2,109,973 shares of the company were exchanged, compared to its average volume of 2,163,590. The company has a quick ratio of 0.63, a current ratio of 1.00 and a debt-to-equity ratio of 0.93. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $34.25. The business has a 50-day moving average price of $25.49 and a 200-day moving average price of $21.10. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -6.23 and a beta of 2.16.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.83 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. 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 anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R bought 250,000 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was purchased at an average cost of $32.16 per share, with a total value of $8,040,000.00. Following the completion of the purchase, the insider owned 12,815,208 shares in the company, valued at approximately $412,137,089.28. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jeannine J. Lane sold 35,398 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $31.31, for a total value of $1,108,311.38. Following the completion of the transaction, the executive vice president directly owned 155,136 shares of the company's stock, valued at approximately $4,857,308.16. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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.

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.