Pacer Advisors Inc. Sells 3,755,733 Shares of Resideo Technologies, Inc. (NYSE:REZI)

Key Points

• Pacer Advisors Inc. significantly reduced its holdings in Resideo Technologies by selling 3,755,733 shares, bringing its ownership down by 70.9% to 1,543,416 shares.
• Major shareholder Channel Holdings Ii L.P. purchased 4,477,919 shares, increasing their position by 77.82%, while director Nina Richardson sold 2,790 shares, decreasing her ownership by 4.18%.
• Resideo Technologies experienced a stock increase of 0.5%, with current trading at $24.45, and a twelve-month trading range between $14.18 and $28.28.

Pacer Advisors Inc. trimmed its position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 70.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,543,416 shares of the company's stock after selling 3,755,733 shares during the period. Pacer Advisors Inc. owned 1.04% of Resideo Technologies worth $27,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in REZI. Norges Bank purchased a new position in Resideo Technologies during the 4th quarter worth approximately $40,596,000. Federated Hermes Inc. purchased a new position in Resideo Technologies during the 4th quarter worth approximately $35,542,000. Nuveen Asset Management LLC boosted its stake in shares of 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 buying an additional 567,800 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Resideo Technologies during the 4th quarter valued at $5,914,000. Finally, Northern Trust Corp boosted its stake in shares of Resideo Technologies by 14.3% during the 4th quarter. Northern Trust Corp now owns 1,917,077 shares of the company's stock valued at $44,189,000 after buying an additional 239,967 shares during the period. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Resideo Technologies Stock Up 0.5%

Shares of NYSE:REZI traded up $0.12 during trading on Friday, reaching $24.45. 543,070 shares of the company traded hands, compared to its average volume of 940,404. The firm has a fifty day simple moving average of $22.14 and a 200 day simple moving average of $20.21. The firm has a market cap of $3.63 billion, a P/E ratio of 76.42 and a beta of 2.15. Resideo Technologies, Inc. has a 1-year low of $14.18 and a 1-year high of $28.28. The company has a quick ratio of 1.16, a current ratio of 1.94 and a debt-to-equity ratio of 0.69.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 4,477,919 shares of Resideo Technologies stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average price of $22.33 per share, with a total value of $99,991,931.27. Following the purchase, the insider owned 10,232,420 shares in the company, valued at approximately $228,489,938.60. This trade represents a 77.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nina Richardson sold 2,790 shares of Resideo Technologies stock in a transaction on Monday, July 7th. The shares were sold at an average price of $23.68, for a total transaction of $66,067.20. Following the completion of the sale, the director directly owned 64,008 shares of the company's stock, valued at approximately $1,515,709.44. The trade was a 4.18% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their target price 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 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.