Squarepoint Ops LLC Has $5.19 Million Stake in Resideo Technologies, Inc. $REZI

Key Points

• Squarepoint Ops increased its Resideo Technologies stake by 85.8% in the second quarter, owning 166,835 shares worth approximately $5.19 million. Institutional investors collectively own 91.71% of the company.
• Resideo insiders purchased 41,245 shares worth about $848,115 over the past three months, while analyst sentiment remained mixed, resulting in an average “Hold” rating and a consensus price target of $41.
• Resideo reported stronger-than-expected quarterly results, with EPS of $0.83 versus the $0.47 consensus estimate and revenue of $1.98 billion. The stock opened at $19.13, near its 52-week low of $18.50.

Squarepoint Ops LLC boosted its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 85.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 166,835 shares of the company's stock after purchasing an additional 77,065 shares during the quarter. Squarepoint Ops LLC owned about 0.11% of Resideo Technologies worth $5,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Resideo Technologies in the second quarter valued at $673,214,000. Clayton Dubilier & Rice LLC raised its position in Resideo Technologies by 12.7% in the 4th quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company's stock valued at $525,962,000 after buying an additional 1,689,758 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Resideo Technologies by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company's stock valued at $262,505,000 after acquiring an additional 64,613 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Resideo Technologies by 3,036.4% during the 2nd quarter. California State Teachers Retirement System now owns 4,879,839 shares of the company's stock worth $156,908,000 after acquiring an additional 4,724,252 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Resideo Technologies by 51.4% during the 4th quarter. Franklin Resources Inc. now owns 2,860,308 shares of the company's stock worth $100,454,000 after acquiring an additional 971,643 shares during the last quarter. Institutional investors own 91.71% of the company's stock.

Insiders Place Their Bets

In other news, SVP Joshua Foster purchased 15,317 shares of the company's stock in a transaction on Friday, August 14th. The stock was purchased at an average price of $20.58 per share, with a total value of $315,223.86. Following the completion of the purchase, the senior vice president directly owned 183,509 shares in the company, valued at approximately $3,776,615.22. This trade represents a 9.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Amit Mehta purchased 10,928 shares of the stock in a transaction on Monday, August 17th. The stock was acquired at an average cost of $20.68 per share, with a total value of $225,991.04. Following the completion of the purchase, the senior vice president directly owned 57,362 shares of the company's stock, valued at $1,186,246.16. The trade was a 23.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 41,245 shares of company stock worth $848,115 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on REZI. Morgan Stanley dropped their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Seaport Research Partners began coverage on Resideo Technologies in a research note on Wednesday, July 1st. They issued a "buy" rating and a $55.00 price objective for the company. Oppenheimer reiterated an "outperform" rating on shares of Resideo Technologies in a research note on Thursday, August 13th. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They set a "neutral" rating and a $30.00 price target for the company. Finally, Zacks Research downgraded shares of Resideo Technologies from a "hold" rating to a "strong sell" rating in a report on Wednesday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Resideo Technologies has an average rating of "Hold" and an average target price of $41.00.

Resideo Technologies Stock Up 1.6%

REZI stock opened at $19.13 on Friday. The stock has a fifty day moving average of $26.87 and a 200-day moving average of $31.73. Resideo Technologies, Inc. has a fifty-two week low of $18.50 and a fifty-two week high of $45.29. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 8.46 and a beta of 1.60. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The company's revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Resideo Technologies, Inc. will post 2.5 earnings per share for the current year.

Resideo Technologies Profile

Resideo Technologies, Inc is a technology and manufacturing company that provides products and solutions for residential and commercial buildings. Its offerings are designed to improve security, comfort, energy efficiency, water management and connectivity in homes and other properties.

Through its Products and Solutions segment, Resideo supplies thermostats, heating and cooling controls, indoor air-quality products, water-management systems, security and fire products, video solutions, sensors and connected-home technologies.

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