Algert Global LLC Sells 235,740 Shares of Resideo Technologies, Inc. $REZI

Key Points

• Algert Global LLC has reduced its holdings in Resideo Technologies by 77.2% in the first quarter, now owning 69,660 shares valued at approximately $1.23 million.
• Multiple analysts have increased their price targets for Resideo Technologies, with Morgan Stanley raising its target from $24.00 to $35.00 and assigning an "overweight" rating.
• Resideo Technologies reported a 22.3% increase in revenue year-over-year for the latest quarter, with earnings per share of $0.66, exceeding analysts' expectations of $0.54.

Algert Global LLC decreased its stake in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 77.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,660 shares of the company's stock after selling 235,740 shares during the quarter. Algert Global LLC's holdings in Resideo Technologies were worth $1,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of REZI. Nuveen LLC acquired a new stake in Resideo Technologies during the 1st quarter worth about $34,239,000. Nuveen Asset Management LLC boosted its position 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 worth $53,496,000 after acquiring an additional 567,800 shares during the period. Raymond James Financial Inc. acquired a new stake in Resideo Technologies during the 4th quarter worth about $5,914,000. Northern Trust Corp boosted its position in Resideo Technologies by 14.3% during the 4th 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, Dimensional Fund Advisors LP boosted its position in Resideo Technologies by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,205,405 shares of the company's stock worth $145,234,000 after acquiring an additional 223,063 shares during the period. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Resideo Technologies Stock Up 0.7%

Shares of REZI traded up $0.25 during midday trading on Wednesday, reaching $34.81. 714,079 shares of the stock were exchanged, compared to its average volume of 1,213,330. Resideo Technologies, Inc. has a 12-month low of $14.18 and a 12-month high of $34.82. The firm has a 50 day simple moving average of $26.03 and a 200-day simple moving average of $21.28. The company has a quick ratio of 0.63, a current ratio of 1.00 and a debt-to-equity ratio of 0.93. The company has a market cap of $5.18 billion, a price-to-earnings ratio of -6.37 and a beta of 2.16.

Resideo Technologies (NYSE:REZI - Get Free Report) last posted its quarterly 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. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business earned $0.62 EPS. The business's quarterly revenue was up 22.3% on a year-over-year basis. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. Research analysts forecast that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Insider Buying and Selling at Resideo Technologies

In related news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 4,477,919 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of $22.33 per share, with a total value of $99,991,931.27. Following the purchase, the insider owned 10,232,420 shares of the company's stock, valued at approximately $228,489,938.60. The trade was a 77.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders purchased 7,107,660 shares of company stock valued at $179,370,672 and sold 132,688 shares valued at $3,976,654. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

REZI has been the subject of a number of research reports. Morgan Stanley upgraded Resideo Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $24.00 to $35.00 in a research report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Resideo Technologies has an average rating of "Moderate Buy" and a consensus target price of $28.00.

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.