Public Sector Pension Investment Board Purchases 163,445 Shares of Resideo Technologies, Inc. (NYSE:REZI)

Key Points

• The Public Sector Pension Investment Board increased its stake in Resideo Technologies by 44.6%, owning 529,621 shares valued at approximately $9.37 million.
• Resideo Technologies’ quarterly earnings surpassed analysts' expectations, reporting $0.66 earnings per share compared to a consensus estimate of $0.54.
• Analyst ratings for Resideo have improved, with Morgan Stanley raising their target price to $35.00 and upgrading the stock from "equal weight" to "overweight."

Public Sector Pension Investment Board boosted its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 44.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529,621 shares of the company's stock after acquiring an additional 163,445 shares during the period. Public Sector Pension Investment Board owned 0.36% of Resideo Technologies worth $9,374,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake 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 valued at $183,996,000 after purchasing an additional 88,273 shares in the last quarter. Nuveen Asset Management LLC increased its stake 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 purchasing an additional 567,800 shares in the last quarter. Nuveen LLC bought a new stake in Resideo Technologies during the 1st quarter valued at about $34,239,000. Northern Trust Corp grew its stake in shares of Resideo Technologies by 14.3% in the fourth quarter. Northern Trust Corp now owns 1,917,077 shares of the company's stock worth $44,189,000 after acquiring an additional 239,967 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Resideo Technologies by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,653,693 shares of the company's stock worth $29,270,000 after acquiring an additional 8,303 shares during the period. 91.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

REZI has been the subject of a number of research analyst reports. Oppenheimer upgraded shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Finally, Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $24.00 to $35.00 in a research note on Tuesday, August 12th.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R bought 339,728 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $30.75 per share, for a total transaction of $10,446,636.00. Following the completion of the transaction, the insider owned 11,478,543 shares of the company's stock, valued at $352,965,197.25. This represents a 3.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nina Richardson sold 2,790 shares of the business's stock in a transaction that occurred 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 sale, the director owned 64,008 shares of the company's stock, valued at $1,515,709.44. This trade represents a 4.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 5,724,042 shares of company stock valued at $135,201,451 and sold 132,688 shares valued at $3,976,654. 1.50% of the stock is owned by corporate insiders.

Resideo Technologies Stock Performance

NYSE REZI traded down $0.52 during trading hours on Friday, hitting $31.39. 2,471,046 shares of the company's stock traded hands, compared to its average volume of 1,915,543. The business's fifty day moving average price is $24.36 and its two-hundred day moving average price is $20.75. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $4.67 billion, a P/E ratio of -5.75 and a beta of 2.16. 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 earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.12. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.83 billion. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 12.55%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. Equities research analysts predict that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

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.