Resideo Technologies, Inc. $REZI Shares Sold by ARGA Investment Management LP

Key Points

• ARGA Investment Management LP reduced its stake in Resideo Technologies by 52.9%, selling 62,869 shares during the second quarter and now holding a total of 55,971 shares valued at approximately $1.23 million.
• Resideo Technologies reported a 22.3% increase in revenue year-over-year, achieving $1.94 billion with earnings per share of $0.66, exceeding analyst estimates of $0.54.
• Major shareholder Channel Holdings II L.P. acquired 457,508 shares at an average price of $27.34 each, increasing its ownership position by 4.28% and valuing its total holdings at over $304 million.

ARGA Investment Management LP cut its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 52.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,971 shares of the company's stock after selling 62,869 shares during the period. ARGA Investment Management LP's holdings in Resideo Technologies were worth $1,235,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. boosted its stake in Resideo Technologies by 4.3% during the 2nd quarter. QRG Capital Management Inc. now owns 10,565 shares of the company's stock worth $233,000 after purchasing an additional 437 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Resideo Technologies by 2.5% during the first quarter. Hsbc Holdings PLC now owns 23,372 shares of the company's stock worth $412,000 after buying an additional 578 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Resideo Technologies by 0.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 162,259 shares of the company's stock worth $3,579,000 after buying an additional 625 shares during the period. Maryland State Retirement & Pension System boosted its stake in shares of Resideo Technologies by 1.7% during the second quarter. Maryland State Retirement & Pension System now owns 43,643 shares of the company's stock worth $963,000 after buying an additional 742 shares during the period. Finally, SummerHaven Investment Management LLC grew its holdings in shares of Resideo Technologies by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 41,693 shares of the company's stock worth $920,000 after buying an additional 883 shares during the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

Resideo Technologies Price Performance

Resideo Technologies stock opened at $43.53 on Friday. The company has a market cap of $6.47 billion, a P/E ratio of -7.97 and a beta of 2.23. Resideo Technologies, Inc. has a one year low of $14.18 and a one year high of $43.96. The business has a fifty day moving average of $38.55 and a two-hundred day moving average of $27.29. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 1.00.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.83 billion. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 12.55%. The business's revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. 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, analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Resideo Technologies

In other news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 457,508 shares of the business's stock in a transaction dated Monday, August 11th. The stock was acquired at an average price of $27.34 per share, with a total value of $12,508,268.72. Following the purchase, the insider directly owned 11,138,815 shares of the company's stock, valued at $304,535,202.10. This represents a 4.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders acquired 3,067,774 shares of company stock valued at $94,106,585 and sold 133,231 shares valued at $4,025,742. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on REZI shares. Oppenheimer upped their price objective on Resideo Technologies from $35.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Zacks Research raised Resideo Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, September 22nd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Resideo Technologies in a report on Wednesday, October 8th. Finally, Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $24.00 to $35.00 in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $34.67.

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.

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