Jupiter Topco LLC Buys New Stake in Resideo Technologies, Inc. $REZI

Jupiter Topco LLC purchased a new position in Resideo Technologies, Inc. (NYSE:REZI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 57,562 shares of the company's stock, valued at approximately $1,792,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. J. Goldman & Co LP acquired a new stake in Resideo Technologies during the second quarter valued at approximately $17,983,000. Hsbc Holdings PLC acquired a new position in shares of Resideo Technologies in the 2nd quarter worth approximately $949,000. Ancora Advisors LLC acquired a new position in shares of Resideo Technologies in the 2nd quarter worth approximately $13,546,000. Legal & General Group Plc bought a new position in shares of Resideo Technologies during the 2nd quarter worth approximately $10,402,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Resideo Technologies during the 2nd quarter worth approximately $2,333,000. Institutional investors own 91.71% of the company's stock.

Insiders Place Their Bets

In other Resideo Technologies news, SVP Amit Mehta bought 10,928 shares of the stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $20.68 per share, for a total transaction of $225,991.04. Following the completion of the purchase, the senior vice president owned 57,362 shares in the company, valued at $1,186,246.16. This represents a 23.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas A. Surran bought 15,000 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $20.46 per share, with a total value of $306,900.00. Following the completion of the purchase, the chief executive officer owned 338,573 shares of the company's stock, valued at $6,927,203.58. This represents a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 41,245 shares of company stock valued at $848,115. 1.60% of the stock is currently owned by corporate insiders.

Resideo Technologies Stock Performance

NYSE REZI opened at $19.45 on Friday. Resideo Technologies, Inc. has a 1-year low of $18.86 and a 1-year high of $45.29. The company has a 50 day moving average of $28.24 and a 200-day moving average of $32.41. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 8.61 and a beta of 1.60.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.47 by $0.36. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $0.66 EPS. Resideo Technologies's revenue was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that Resideo Technologies, Inc. will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on REZI. Oppenheimer reaffirmed an "outperform" rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Seaport Research Partners began coverage on Resideo Technologies in a research note on Wednesday, July 1st. They set a "buy" rating and a $55.00 price objective for the company. JPMorgan Chase & Co. began coverage on Resideo Technologies in a report on Friday, August 7th. They set a "neutral" rating and a $30.00 price objective for the company. Weiss Ratings upgraded shares of Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, August 14th. Finally, Zacks Research lowered shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $41.00.

About Resideo Technologies

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.

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