Man Group plc Reduces Stock Holdings in Resideo Technologies, Inc. (NYSE:REZI)

Man Group plc reduced its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 52.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 361,224 shares of the company's stock after selling 399,911 shares during the period. Man Group plc owned about 0.25% of Resideo Technologies worth $8,326,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Pacer Advisors Inc. purchased a new stake in Resideo Technologies during the fourth quarter worth $122,145,000. Boston Partners boosted its holdings in Resideo Technologies by 25.1% during the fourth quarter. Boston Partners now owns 9,797,883 shares of the company's stock worth $225,865,000 after buying an additional 1,966,706 shares in the last quarter. Norges Bank purchased a new stake in Resideo Technologies during the fourth quarter worth $40,596,000. Federated Hermes Inc. purchased a new stake in Resideo Technologies during the fourth quarter worth $35,542,000. Finally, Nuveen Asset Management LLC boosted its holdings in Resideo Technologies by 32.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,320,863 shares of the company's stock worth $53,496,000 after buying an additional 567,800 shares in the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. downgraded shares of Resideo Technologies from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $31.00 to $16.00 in a report on Tuesday, April 22nd.

Resideo Technologies Stock Performance

Shares of NYSE REZI opened at $21.01 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.82. The company's fifty day moving average price is $17.43 and its 200 day moving average price is $21.16. The company has a market capitalization of $3.12 billion, a PE ratio of 33.35 and a beta of 2.23. Resideo Technologies, Inc. has a 1 year low of $14.18 and a 1 year high of $28.28.

Resideo Technologies (NYSE:REZI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.08). The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Resideo Technologies had a return on equity of 11.12% and a net margin of 1.69%. On average, research analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 5,754,501 shares of Resideo Technologies stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $17.38 per share, for a total transaction of $100,013,227.38. Following the completion of the transaction, the insider now owns 5,754,501 shares of the company's stock, valued at approximately $100,013,227.38. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by company insiders.

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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