AlphaQuest LLC Sells 41,670 Shares of Resideo Technologies, Inc. $REZI

Key Points

• AlphaQuest LLC significantly reduced its stake in Resideo Technologies by 78.2%, selling 41,670 shares and retaining only 11,630 shares worth $206,000.
• Recent insider sales include 35,398 shares sold by EVP Jeannine Lane and 3,333 shares sold by Director Nina Richardson, indicating a decrease in insider ownership.
• Analysts have generally shown a positive outlook for Resideo Technologies, with target price upgrades from various firms, including Morgan Stanley raising its price target from $24.00 to $35.00.

AlphaQuest LLC lessened its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 78.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,630 shares of the company's stock after selling 41,670 shares during the period. AlphaQuest LLC's holdings in Resideo Technologies were worth $206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hsbc Holdings PLC grew its position in Resideo Technologies by 2.5% in the first quarter. Hsbc Holdings PLC now owns 23,372 shares of the company's stock valued at $412,000 after acquiring an additional 578 shares during the last quarter. Steph & Co. grew its position in Resideo Technologies by 6.9% in the first quarter. Steph & Co. now owns 12,209 shares of the company's stock valued at $216,000 after acquiring an additional 787 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Resideo Technologies by 8.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,582 shares of the company's stock valued at $267,000 after acquiring an additional 933 shares during the last quarter. Versant Capital Management Inc grew its position in Resideo Technologies by 52.1% in the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock valued at $56,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Quarry LP bought a new position in Resideo Technologies in the fourth quarter valued at about $28,000. Institutional investors own 91.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on REZI. Morgan Stanley raised Resideo Technologies from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $24.00 to $35.00 in a research note on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price target on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Finally, Oppenheimer raised Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Insider Activity

In other news, Director Andrew C. Teich acquired 29,460 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was purchased at an average price of $34.01 per share, for a total transaction of $1,001,934.60. Following the completion of the acquisition, the director directly owned 332,472 shares in the company, valued at $11,307,372.72. The trade was a 9.72% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Channel Holdings Ii L.P. Cd&R acquired 12,327 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $33.95 per share, with a total value of $418,501.65. Following the acquisition, the insider owned 12,862,161 shares of the company's stock, valued at approximately $436,670,365.95. This represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 7,137,120 shares of company stock worth $180,372,607 and sold 136,021 shares worth $4,091,809. Corporate insiders own 1.50% of the company's stock.

Resideo Technologies Trading Up 3.8%

REZI stock traded up $1.27 during mid-day trading on Thursday, reaching $35.10. The company's stock had a trading volume of 519,314 shares, compared to its average volume of 1,221,686. The company has a market cap of $5.22 billion, a price-to-earnings ratio of -6.43 and a beta of 2.24. The business's 50 day moving average price is $27.55 and its 200 day moving average price is $21.79. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. Resideo Technologies, Inc. has a 12 month low of $14.18 and a 12 month high of $35.03.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.12. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.83 billion. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The firm's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the company 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 year.

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.