Massachusetts Financial Services Co. MA Takes $18.65 Million Position in Resideo Technologies, Inc. $REZI

Key Points

• Massachusetts Financial Services Co. MA acquired 530,891 shares of Resideo Technologies valued at about $18.65 million, representing roughly 0.35% ownership, and institutional investors now hold about 91.71% of the company.
• Morgan Stanley raised its price target on REZI to $50 and rated it "overweight," but the consensus remains a "Hold" with a $39.67 target.
• Resideo (REZI) is trading near $39.26 (down ~1.4%), has a $5.94 billion market cap, a negative trailing P/E of -9.74, and a 12‑month range of $14.82–$45.29.

Massachusetts Financial Services Co. MA acquired a new stake in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 530,891 shares of the company's stock, valued at approximately $18,645,000. Massachusetts Financial Services Co. MA owned about 0.35% of Resideo Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sound Income Strategies LLC bought a new stake in shares of Resideo Technologies during the fourth quarter valued at approximately $25,000. Harbor Capital Advisors Inc. increased its position in Resideo Technologies by 56.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 47,185 shares of the company's stock worth $1,657,000 after purchasing an additional 17,026 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in Resideo Technologies by 3.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 44,681 shares of the company's stock worth $1,569,000 after purchasing an additional 1,664 shares during the last quarter. Nilsine Partners LLC increased its position in Resideo Technologies by 5.4% in the fourth quarter. Nilsine Partners LLC now owns 21,003 shares of the company's stock worth $738,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Resideo Technologies by 5.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 119,590 shares of the company's stock worth $4,200,000 after purchasing an additional 5,905 shares during the last quarter. Institutional investors own 91.71% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on REZI. Morgan Stanley boosted their price target on shares of Resideo Technologies from $42.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. Oppenheimer restated an "outperform" rating on shares of Resideo Technologies in a research report on Friday, March 13th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Resideo Technologies in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Resideo Technologies has a consensus rating of "Hold" and a consensus target price of $39.67.

Resideo Technologies Trading Down 1.4%

REZI stock opened at $39.26 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.30. Resideo Technologies, Inc. has a twelve month low of $14.82 and a twelve month high of $45.29. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of -9.74 and a beta of 1.70. The firm's fifty day simple moving average is $35.86 and its two-hundred day simple moving average is $36.47.

Resideo Technologies Profile

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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