Jacobs Levy Equity Management Inc. Grows Position in 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% in the 1st quarter, according to its most recent filing with the Securities and 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 quarter.

A number of other large investors have also recently modified their holdings of REZI. AQR Capital Management LLC raised its stake in Resideo Technologies by 58.9% in the first quarter. AQR Capital Management LLC now owns 122,734 shares of the company's stock worth $2,172,000 after buying an additional 45,517 shares in the last quarter. Ariel Investments LLC grew its holdings in shares of Resideo Technologies by 5.1% during the 1st quarter. Ariel Investments LLC now owns 9,664,671 shares of the company's stock worth $171,065,000 after acquiring an additional 465,571 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Resideo Technologies in the 1st quarter worth approximately $277,000. Royal Bank of Canada lifted its stake in shares of Resideo Technologies by 50.0% in the 1st quarter. Royal Bank of Canada now owns 49,395 shares of the company's stock valued at $873,000 after purchasing an additional 16,467 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in shares of Resideo Technologies by 124.5% in the 1st quarter. Panagora Asset Management Inc. now owns 356,722 shares of the company's stock valued at $6,314,000 after purchasing an additional 197,838 shares during the period. Institutional investors own 91.71% of the company's stock.

Resideo Technologies Stock Up 0.1%

Shares of NYSE REZI traded up $0.05 during trading on Wednesday, reaching $39.65. The company had a trading volume of 2,391,877 shares, compared to its average volume of 1,853,281. Resideo Technologies, Inc. has a 12-month low of $14.18 and a 12-month high of $40.42. The stock has a market cap of $5.90 billion, a PE ratio of -7.26 and a beta of 2.24. The business's 50-day moving average is $30.32 and its 200 day moving average is $22.96. 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 (NYSE:REZI - Get Free Report) last posted its quarterly 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 firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. Resideo Technologies'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. As a group, equities analysts forecast that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Activity

In other 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 shares were purchased at an average price of $22.33 per share, for a total transaction 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. This represents a 77.82% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have purchased 7,545,693 shares of company stock valued at $194,098,517 and have sold 136,021 shares valued at $4,091,809. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on REZI shares. JPMorgan Chase & Co. increased 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. Oppenheimer raised shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $24.00 to $35.00 in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus 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.