Meritage Portfolio Management Makes New $358,000 Investment in Resideo Technologies, Inc. (NYSE:REZI)

Meritage Portfolio Management purchased a new position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 20,203 shares of the company's stock, valued at approximately $358,000.

Several other hedge funds have also recently added to or reduced their stakes in REZI. Smartleaf Asset Management LLC raised its holdings in Resideo Technologies by 293.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,600 shares of the company's stock worth $60,000 after purchasing an additional 1,939 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Resideo Technologies by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,390 shares of the company's stock valued at $37,926,000 after acquiring an additional 99,525 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Resideo Technologies by 1.9% in the 4th quarter. Victory Capital Management Inc. now owns 168,958 shares of the company's stock valued at $3,894,000 after acquiring an additional 3,210 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Resideo Technologies in the 4th quarter valued at $5,914,000. Finally, Inceptionr LLC bought a new stake in shares of Resideo Technologies in the 4th quarter valued at $306,000. Institutional investors own 91.71% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd.

Resideo Technologies Stock Performance

NYSE:REZI opened at $24.08 on Friday. The company has a fifty day moving average of $20.64 and a 200-day moving average of $20.20. The firm has a market capitalization of $3.58 billion, a P/E ratio of 75.25 and a beta of 2.15. The company has a quick ratio of 1.16, a current ratio of 1.94 and a debt-to-equity ratio of 0.69. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $28.28.

Insider Buying and Selling at Resideo Technologies

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

Resideo Technologies Company 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.

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