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

Man Group plc cut its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 52.5% during the 4th quarter, according to its most recent Form 13F 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 quarter. Man Group plc owned approximately 0.25% of Resideo Technologies worth $8,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quarry LP bought a new position in Resideo Technologies in the 4th quarter worth about $28,000. R Squared Ltd purchased a new stake in shares of Resideo Technologies in the 4th quarter valued at approximately $30,000. Smartleaf Asset Management LLC grew its holdings in shares of Resideo Technologies by 293.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,600 shares of the company's stock valued at $60,000 after purchasing an additional 1,939 shares in the last quarter. Blue Trust Inc. grew its holdings in Resideo Technologies by 28.9% during the 4th quarter. Blue Trust Inc. now owns 3,241 shares of the company's stock worth $75,000 after acquiring an additional 726 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in Resideo Technologies by 705.9% in the fourth quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock valued at $110,000 after purchasing an additional 4,165 shares during the period. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. downgraded shares of Resideo Technologies from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $31.00 to $16.00 in a research note on Tuesday, April 22nd.

Resideo Technologies Stock Down 1.4%

REZI stock traded down $0.29 during mid-day trading on Friday, hitting $19.89. 693,489 shares of the company were exchanged, compared to its average volume of 973,817. Resideo Technologies, Inc. has a 1-year low of $14.18 and a 1-year high of $28.28. 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 firm's 50 day simple moving average is $17.66 and its 200 day simple moving average is $21.14. The firm has a market cap of $2.95 billion, a P/E ratio of 31.57 and a beta of 2.23.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its earnings results 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). Resideo Technologies had a return on equity of 11.12% and a net margin of 1.69%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. On average, sell-side analysts predict that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 5,754,501 shares of the business's stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $17.38 per share, for a total transaction of $100,013,227.38. Following the completion of the purchase, the insider now owns 5,754,501 shares in the company, valued at approximately $100,013,227.38. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by corporate 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.