Kingstone Capital Partners Texas LLC Invests $678,000 in Resideo Technologies, Inc. $REZI

Key Points

• Kingstone Capital Partners Texas LLC acquired 30,732 shares of Resideo Technologies, Inc. (REZI) valued at approximately $678,000 during the 2nd quarter.
• Brokerage firms like Morgan Stanley and Oppenheimer have upgraded their ratings on Resideo Technologies, with price targets rising to $35.00 and $48.00 respectively.
• Resideo Technologies reported a 22.3% year-over-year revenue increase in its quarterly earnings, with EPS surpassing estimates by $0.12.

Kingstone Capital Partners Texas LLC bought a new stake in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 30,732 shares of the company's stock, valued at approximately $678,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Resideo Technologies during the second quarter valued at approximately $256,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Resideo Technologies by 8.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 35,480 shares of the company's stock worth $783,000 after acquiring an additional 2,647 shares in the last quarter. Strs Ohio bought a new position in Resideo Technologies in the first quarter valued at approximately $770,000. Intech Investment Management LLC increased its holdings in shares of Resideo Technologies by 26.3% in the first quarter. Intech Investment Management LLC now owns 156,847 shares of the company's stock worth $2,776,000 after acquiring an additional 32,672 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Resideo Technologies by 37.1% during the 1st quarter. Jane Street Group LLC now owns 169,033 shares of the company's stock worth $2,992,000 after acquiring an additional 45,779 shares during the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on REZI shares. JPMorgan Chase & Co. upped their price objective on shares of Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Oppenheimer boosted their price objective on Resideo Technologies from $35.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $24.00 to $35.00 in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Resideo Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $34.67.

Insiders Place Their Bets

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 4,477,919 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was acquired at an average cost of $22.33 per share, with a total value of $99,991,931.27. Following the acquisition, the insider owned 10,232,420 shares of the company's stock, valued at approximately $228,489,938.60. This represents a 77.82% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders purchased 7,545,693 shares of company stock valued at $194,098,517 and sold 136,021 shares valued at $4,091,809. 1.50% of the stock is currently owned by corporate insiders.

Resideo Technologies Price Performance

REZI stock traded up $0.10 during midday trading on Monday, reaching $42.13. The stock had a trading volume of 1,925,429 shares, compared to its average volume of 2,159,802. Resideo Technologies, Inc. has a 52-week low of $14.18 and a 52-week high of $42.99. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.27 billion, a price-to-earnings ratio of -7.72 and a beta of 2.24. The company's fifty day simple moving average is $31.40 and its 200 day simple moving average is $23.52.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.94 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. 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 fiscal year.

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.