Hotchkis & Wiley Capital Management LLC Acquires 28,950 Shares of Resideo Technologies, Inc. $REZI

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Resideo Technologies by 4.5%, holding approximately 665,460 shares valued at $11.78 million, and institutional investors now own 91.71% of the company's stock.
• Major shareholder Channel Holdings Ii L.P. Cd&R acquired 4.48 million shares at an average price of $22.33, resulting in a 77.82% increase in their position, bringing their total holdings to over $228 million.
• Resideo reported $1.94 billion in quarterly revenue, beating expectations, and upgraded its FY 2025 EPS guidance to between 2.750 and 2.870, with analysts predicting a 2.13 EPS for the current year.

Hotchkis & Wiley Capital Management LLC raised its stake in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 665,460 shares of the company's stock after purchasing an additional 28,950 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.45% of Resideo Technologies worth $11,779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of REZI. Principal Financial Group Inc. grew its position in Resideo Technologies by 2.6% in the first quarter. Principal Financial Group Inc. now owns 794,943 shares of the company's stock valued at $14,070,000 after acquiring an additional 20,301 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Resideo Technologies by 1,296.4% during the 1st quarter. GAMMA Investing LLC now owns 54,711 shares of the company's stock valued at $968,000 after acquiring an additional 50,793 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Resideo Technologies by 2.6% during the 1st quarter. Natixis Advisors LLC now owns 227,759 shares of the company's stock valued at $4,031,000 after acquiring an additional 5,674 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Resideo Technologies by 1,261.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 7,160 shares of the company's stock valued at $127,000 after acquiring an additional 6,634 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Resideo Technologies during the 1st quarter valued at approximately $733,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Oppenheimer upgraded Resideo Technologies from a "market perform" rating to an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price 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. Finally, Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $24.00 to $35.00 in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 4,477,919 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of $22.33 per share, for a total transaction of $99,991,931.27. Following the transaction, the insider directly owned 10,232,420 shares in the company, valued at approximately $228,489,938.60. The trade was a 77.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders purchased 7,107,660 shares of company stock worth $179,370,672 and sold 136,021 shares worth $4,091,809. 1.50% of the stock is owned by company insiders.

Resideo Technologies Stock Performance

Shares of REZI traded down $0.29 during mid-day trading on Friday, hitting $33.98. The company's stock had a trading volume of 573,744 shares, compared to its average volume of 1,215,752. Resideo Technologies, Inc. has a one year low of $14.18 and a one year high of $34.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 1.00. The firm has a market capitalization of $5.06 billion, a PE ratio of -6.23 and a beta of 2.16. The stock's 50-day moving average is $26.57 and its two-hundred day moving average is $21.46.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.12. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.83 billion. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.Resideo Technologies's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the business 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. As a group, sell-side analysts anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

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.