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

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

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Resideo Technologies by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 16,137,439 shares of the company's stock worth $371,968,000 after purchasing an additional 75,940 shares during the period. Boston Partners increased its holdings in Resideo Technologies by 25.1% during the 4th quarter. Boston Partners now owns 9,797,883 shares of the company's stock worth $225,865,000 after purchasing an additional 1,966,706 shares during the period. Dimensional Fund Advisors LP increased its holdings in Resideo Technologies by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,982,342 shares of the company's stock worth $183,996,000 after purchasing an additional 88,273 shares during the period. Nuveen Asset Management LLC boosted its position in Resideo Technologies by 32.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,320,863 shares of the company's stock valued at $53,496,000 after acquiring an additional 567,800 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Resideo Technologies by 11.2% during the 4th quarter. Prudential Financial Inc. now owns 1,917,221 shares of the company's stock valued at $44,192,000 after acquiring an additional 192,511 shares in the last quarter. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Resideo Technologies Stock Up 1.1%

NYSE REZI traded up $0.27 during midday trading on Tuesday, hitting $23.77. 1,201,626 shares of the company traded hands, compared to its average volume of 1,017,829. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.94 and a quick ratio of 1.16. The company has a market cap of $3.53 billion, a PE ratio of 74.28 and a beta of 2.15. The company's 50-day simple moving average is $20.93 and its 200-day simple moving average is $20.15. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $28.28.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. increased their target price on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd.

Insider Transactions at Resideo Technologies

In related news, major shareholder Channel Holdings Ii L.P. Cd&R bought 5,754,501 shares of the company's stock in a transaction on Friday, May 9th. The shares were acquired at an average price of $17.38 per share, with a total value of $100,013,227.38. Following the transaction, the insider owned 5,754,501 shares of the company's stock, valued at $100,013,227.38. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.50% of the company's stock.

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.