Intech Investment Management LLC Purchases 32,672 Shares of Resideo Technologies, Inc. $REZI

Key Points

• Intech Investment Management LLC has increased its stake in Resideo Technologies, Inc. by 26.3%, acquiring an additional 32,672 shares in the first quarter, bringing its total holdings to 156,847 shares valued at approximately $2.8 million.
• Recent earnings reports show that Resideo Technologies reported a quarterly EPS of $0.66, exceeding the consensus estimate of $0.54, with revenues of $1.94 billion, up 22.3% year over year.
• Research analysts have upgraded Resideo Technologies' stock ratings, with Oppenheimer moving from "market perform" to "outperform" and Morgan Stanley raising the price target from $24 to $35.

Intech Investment Management LLC increased its position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 26.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,847 shares of the company's stock after acquiring an additional 32,672 shares during the quarter. Intech Investment Management LLC owned about 0.11% of Resideo Technologies worth $2,776,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in REZI. IFP Advisors Inc lifted its stake in shares of Resideo Technologies by 20,133.3% during the first quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock valued at $43,000 after acquiring an additional 2,416 shares during the period. Versant Capital Management Inc lifted its stake in shares of Resideo Technologies by 52.1% during the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock valued at $56,000 after acquiring an additional 1,087 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Resideo Technologies during the first quarter valued at $65,000. Exchange Traded Concepts LLC lifted its stake 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 valued at $127,000 after acquiring an additional 6,634 shares during the period. Finally, Steph & Co. lifted its stake in shares of Resideo Technologies by 6.9% during the first quarter. Steph & Co. now owns 12,209 shares of the company's stock valued at $216,000 after acquiring an additional 787 shares during the period. Institutional investors and hedge funds own 91.71% of the company's stock.

Resideo Technologies Trading Up 1.4%

Shares of Resideo Technologies stock traded up $0.60 during trading hours on Friday, hitting $41.99. The company's stock had a trading volume of 7,797,214 shares, compared to its average volume of 1,875,380. Resideo Technologies, Inc. has a 12 month low of $14.18 and a 12 month high of $42.99. The stock has a 50 day moving average of $31.03 and a 200 day moving average of $23.29. The company has a market capitalization of $6.25 billion, a PE ratio of -7.69 and a beta of 2.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63.

Resideo Technologies (NYSE:REZI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.12. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.83 billion. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.Resideo Technologies's quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. Analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

REZI has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Morgan Stanley raised Resideo Technologies from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $24.00 to $35.00 in a research note on Tuesday, August 12th. Finally, Oppenheimer increased their target price on Resideo Technologies from $35.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Resideo Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.67.

Insider Activity

In other news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 4,477,919 shares of the firm's 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders bought 7,545,693 shares of company stock worth $194,098,517 and sold 136,021 shares worth $4,091,809. Insiders own 1.50% of the company's stock.

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.