Fuller & Thaler Asset Management Inc. Increases Stock Holdings in Resideo Technologies, Inc. $REZI

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Resideo Technologies by 9.1%, owning approximately 5.52% of the company worth $145 million as of the end of the latest quarter.
• Resideo Technologies reported a 22.3% increase in revenue year-over-year, with earnings per share of $0.66, surpassing analyst expectations of $0.54.
• Several investment firms upgraded their ratings and price targets for Resideo Technologies, with Morgan Stanley raising its price target from $24 to $35.

Fuller & Thaler Asset Management Inc. grew its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 9.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,196,828 shares of the company's stock after buying an additional 683,714 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 5.52% of Resideo Technologies worth $145,084,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of REZI. Quarry LP acquired a new stake in shares of Resideo Technologies in the 4th quarter valued at approximately $28,000. IFP Advisors Inc lifted its holdings 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 buying an additional 2,416 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Resideo Technologies by 52.1% in the 1st quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock valued at $56,000 after buying an additional 1,087 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Resideo Technologies by 705.9% in the 4th quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock valued at $110,000 after buying an additional 4,165 shares during the period. Finally, Natixis acquired a new stake in shares of Resideo Technologies in the 4th quarter valued at approximately $115,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Resideo Technologies Price Performance

Shares of NYSE REZI traded down $0.3750 during trading on Wednesday, reaching $32.0950. The company had a trading volume of 2,143,267 shares, compared to its average volume of 2,004,387. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $33.03. The stock has a market capitalization of $4.77 billion, a PE ratio of -5.88 and a beta of 2.16. The stock has a 50-day moving average price of $25.00 and a two-hundred day moving average price of $20.96. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share 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 company 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 posted $0.62 earnings per share. The business's revenue for the quarter 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. As a group, sell-side analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 4,477,919 shares of the business's stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $22.33 per share, with a total value of $99,991,931.27. Following the completion of the acquisition, the insider directly owned 10,232,420 shares in the company, valued at $228,489,938.60. The trade was a 77.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeannine J. Lane sold 35,398 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was 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. This trade represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 6,378,066 shares of company stock valued at $155,873,011 and sold 132,688 shares valued at $3,976,654. 1.50% of the stock is currently 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.