Jacobs Levy Equity Management Inc. Buys 49,567 Shares of Resideo Technologies, Inc. $REZI

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Resideo Technologies by 568% in Q1, acquiring 49,567 shares, raising its total holdings to 58,293 shares worth approximately $1,032,000.
• Resideo Technologies saw upgrades from multiple analysts, with Morgan Stanley raising its target price from $24.00 to $35.00 and maintaining a recommendation of "overweight."
• The company reported earnings of $0.66 per share for Q2, exceeding the consensus estimate of $0.54 and showing a year-over-year revenue increase of 22.3%.

Jacobs Levy Equity Management Inc. grew its stake in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 568.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,293 shares of the company's stock after purchasing an additional 49,567 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Resideo Technologies were worth $1,032,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Boston Partners lifted its holdings in shares of Resideo Technologies by 1.6% in the first quarter. Boston Partners now owns 9,954,419 shares of the company's stock valued at $175,640,000 after purchasing an additional 156,536 shares in the last quarter. Ariel Investments LLC lifted its holdings in shares of Resideo Technologies by 5.1% in the first quarter. Ariel Investments LLC now owns 9,664,671 shares of the company's stock valued at $171,065,000 after purchasing an additional 465,571 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Resideo Technologies by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,205,405 shares of the company's stock valued at $145,234,000 after purchasing an additional 223,063 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Resideo Technologies by 9.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 8,196,828 shares of the company's stock valued at $145,084,000 after purchasing an additional 683,714 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Resideo Technologies by 32.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,320,863 shares of the company's stock valued at $53,496,000 after purchasing an additional 567,800 shares in the last quarter. Institutional investors own 91.71% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, Director Nina Richardson sold 3,333 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $34.55, for a total value of $115,155.15. Following the sale, the director directly owned 60,675 shares in the company, valued at $2,096,321.25. The trade was a 5.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew C. Teich bought 29,460 shares of the stock in a transaction on Friday, August 29th. The stock was purchased at an average price of $34.01 per share, for a total transaction of $1,001,934.60. Following the completion of the purchase, the director owned 332,472 shares of the company's stock, valued at approximately $11,307,372.72. This trade represents a 9.72% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 7,545,693 shares of company stock worth $194,098,517 and have sold 136,021 shares worth $4,091,809. Corporate insiders own 1.50% of the company's stock.

Resideo Technologies Stock Performance

Shares of REZI opened at $36.77 on Friday. The firm has a market cap of $5.47 billion, a PE ratio of -6.73 and a beta of 2.24. The stock's fifty day moving average price is $29.10 and its two-hundred day moving average price is $22.41. 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, Inc. has a 1 year low of $14.18 and a 1 year high of $37.33.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its 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. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.83 billion. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The business's revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $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. On average, equities research analysts forecast that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

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.

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