Nuveen LLC Makes New Investment in Resideo Technologies, Inc. $REZI

Key Points

• Nuveen LLC has acquired 1,934,397 shares of Resideo Technologies, Inc., valued at approximately $34.24 million, representing 1.30% ownership of the company.
• Analysts are optimistic about Resideo's future, with ratings upgrades from Oppenheimer and Morgan Stanley, raising price objectives significantly.
• Resideo Technologies reported Q2 earnings of $0.66 EPS, exceeding estimates and showcasing a 22.3% revenue increase year-over-year, totaling $1.94 billion.

Nuveen LLC bought a new stake in Resideo Technologies, Inc. (NYSE:REZI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,934,397 shares of the company's stock, valued at approximately $34,239,000. Nuveen LLC owned about 1.30% of Resideo Technologies as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in REZI. LPL Financial LLC lifted its holdings in Resideo Technologies by 26.5% during the fourth quarter. LPL Financial LLC now owns 35,851 shares of the company's stock valued at $826,000 after purchasing an additional 7,514 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Resideo Technologies by 26.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 104,813 shares of the company's stock worth $2,416,000 after buying an additional 22,214 shares in the last quarter. Bank of Montreal Can increased its position in shares of Resideo Technologies by 11.6% in the fourth quarter. Bank of Montreal Can now owns 17,205 shares of the company's stock worth $397,000 after purchasing an additional 1,788 shares during the last quarter. Invesco Ltd. increased its position in shares of Resideo Technologies by 22.6% in the fourth quarter. Invesco Ltd. now owns 988,890 shares of the company's stock worth $22,794,000 after purchasing an additional 182,197 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Resideo Technologies in the fourth quarter worth approximately $5,914,000. 91.71% of the stock is owned by hedge funds and other institutional investors.

Resideo Technologies Trading Down 1.6%

NYSE:REZI traded down $0.52 during trading hours on Wednesday, hitting $31.95. The company had a trading volume of 796,953 shares, compared to its average volume of 1,182,624. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63. The company has a market capitalization of $4.75 billion, a PE ratio of -5.85 and a beta of 2.16. The stock has a 50-day moving average price of $24.78 and a 200 day moving average price of $20.88. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $33.03.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.54 by $0.12. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.83 billion. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The company's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. On average, equities research analysts predict that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $24.00 to $35.00 in a research report on Tuesday, August 12th. Finally, Oppenheimer upgraded shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Insider Transactions at Resideo Technologies

In other news, insider Robert B. Aarnes sold 47,000 shares of Resideo Technologies stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $28.00, for a total value of $1,316,000.00. Following the completion of the transaction, the insider owned 503,692 shares of the company's stock, valued at $14,103,376. The trade was a 8.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay L. Geldmacher sold 47,500 shares of Resideo Technologies stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $31.29, for a total value of $1,486,275.00. Following the completion of the transaction, the chief executive officer directly owned 519,689 shares of the company's stock, valued at approximately $16,261,068.81. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 6,378,066 shares of company stock worth $155,873,011 and sold 132,688 shares worth $3,976,654. 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.