Algert Global LLC Cuts Stock Holdings in 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 trimmed its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 77.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,660 shares of the company's stock after selling 235,740 shares during the period. Algert Global LLC's holdings in Resideo Technologies were worth $1,233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in REZI. Boston Partners grew its position in Resideo Technologies by 1.6% during the first quarter. Boston Partners now owns 9,954,419 shares of the company's stock valued at $175,640,000 after buying an additional 156,536 shares during the period. Dimensional Fund Advisors LP boosted its stake in Resideo Technologies by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,205,405 shares of the company's stock valued at $145,234,000 after acquiring an additional 223,063 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Resideo Technologies by 32.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,320,863 shares of the company's stock valued at $53,496,000 after acquiring an additional 567,800 shares during the last quarter. Nuveen LLC bought a new position in shares of Resideo Technologies during the 1st quarter valued at approximately $34,239,000. Finally, Northern Trust Corp grew its position 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 acquiring an additional 239,967 shares during the period. 91.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Resideo Technologies

In other news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 4,477,919 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were purchased at an average price of $22.33 per share, with a total value of $99,991,931.27. Following the completion of the acquisition, the insider owned 10,232,420 shares in the company, valued at $228,489,938.60. This trade represents a 77.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders have acquired 7,107,660 shares of company stock worth $179,370,672 and have sold 132,688 shares worth $3,976,654. 1.50% of the stock is owned by company insiders.

Resideo Technologies Price Performance

Shares of Resideo Technologies stock traded down $0.32 on Thursday, reaching $34.38. The stock had a trading volume of 267,972 shares, compared to its average volume of 1,211,510. The business's 50 day moving average is $26.31 and its two-hundred day moving average is $21.37. 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 1 year low of $14.18 and a 1 year high of $34.89. The company has a market cap of $5.11 billion, a P/E ratio of -6.29 and a beta of 2.16.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 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 analysts' expectations of $1.83 billion. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 12.55%. Resideo Technologies's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $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, research analysts anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Analysts Set New Price Targets

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

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.