Resideo Technologies, Inc. $REZI Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers has reduced its ownership in Resideo Technologies by 4.5%, selling 20,835 shares and now holding 445,750 shares valued at approximately $7.89 million.
• Resideo Technologies reported a 22.3% year-over-year increase in revenue, achieving $1.94 billion for the quarter and earnings per share of $0.66, surpassing analyst estimates.
• Several institutional investors, including Deutsche Bank AG and Lazard Asset Management LLC, have significantly increased their stakes in Resideo Technologies in the fourth quarter, indicating strong institutional interest in the stock.

Rhumbline Advisers trimmed its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 445,750 shares of the company's stock after selling 20,835 shares during the period. Rhumbline Advisers owned about 0.30% of Resideo Technologies worth $7,890,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in REZI. Strs Ohio bought a new position in Resideo Technologies in the first quarter worth about $770,000. Intech Investment Management LLC increased its position in shares of Resideo Technologies by 26.3% during the first quarter. Intech Investment Management LLC now owns 156,847 shares of the company's stock valued at $2,776,000 after acquiring an additional 32,672 shares in the last quarter. Jane Street Group LLC boosted its holdings in Resideo Technologies by 37.1% in the first quarter. Jane Street Group LLC now owns 169,033 shares of the company's stock worth $2,992,000 after purchasing an additional 45,779 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Resideo Technologies by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company's stock worth $7,773,000 after acquiring an additional 26,254 shares during the last quarter. Finally, Petrus Trust Company LTA purchased a new position in shares of Resideo Technologies during the 1st quarter worth $240,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Resideo Technologies Stock Up 1.1%

Shares of NYSE:REZI traded up $0.46 during trading on Wednesday, hitting $40.06. 712,858 shares of the company were exchanged, compared to its average volume of 1,264,515. The firm's 50 day moving average price is $30.01 and its 200-day moving average price is $22.85. Resideo Technologies, Inc. has a 12-month low of $14.18 and a 12-month high of $40.32. The stock has a market capitalization of $5.96 billion, a P/E ratio of -7.34 and a beta of 2.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.12. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 12.55%. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same period in the previous year, the company posted $0.62 EPS. Resideo Technologies's revenue was up 22.3% compared to the same quarter last year. 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, research analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Transactions 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 dated 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 acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 7,545,693 shares of company stock valued at $194,098,517 and have sold 136,021 shares valued at $4,091,809. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

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