State of Alaska Department of Revenue Has $1.95 Million Stake in Resideo Technologies, Inc. $REZI

Key Points

• The State of Alaska Department of Revenue increased its stake in Resideo Technologies by 8.6% during Q2, now owning 88,428 shares valued at approximately $1.95 million.
• Several hedge funds have significantly boosted their holdings in Resideo, with IFP Advisors and GAMMA Investing increasing their positions by over 20,000% and 74.5%, respectively.
• Resideo Technologies reported a 22.3% increase in year-over-year revenue, reaching $1.94 billion for the last quarter, and exceeded EPS estimates with a reported $0.66 EPS.

State of Alaska Department of Revenue increased its stake in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 8.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 88,428 shares of the company's stock after acquiring an additional 6,992 shares during the period. State of Alaska Department of Revenue owned 0.06% of Resideo Technologies worth $1,950,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc increased its holdings in shares of Resideo Technologies by 20,133.3% during the 1st quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock valued at $43,000 after acquiring an additional 2,416 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Resideo Technologies by 52.1% during the 1st quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock valued at $56,000 after acquiring an additional 1,087 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Resideo Technologies during the 1st quarter valued at about $65,000. GAMMA Investing LLC increased its holdings in shares of Resideo Technologies by 74.5% during the 2nd quarter. GAMMA Investing LLC now owns 5,393 shares of the company's stock valued at $119,000 after acquiring an additional 2,302 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Resideo Technologies by 1,261.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 7,160 shares of the company's stock valued at $127,000 after acquiring an additional 6,634 shares during the last quarter. Institutional investors and hedge funds own 91.71% of the company's stock.

Resideo Technologies Stock Performance

REZI opened at $43.22 on Friday. The firm has a market capitalization of $6.43 billion, a P/E ratio of -7.92 and a beta of 2.23. The stock's 50 day moving average price is $34.27 and its two-hundred day moving average price is $24.79. The company has a quick ratio of 0.63, a current ratio of 1.00 and a debt-to-equity ratio of 0.93. Resideo Technologies, Inc. has a 12-month low of $14.18 and a 12-month high of $43.24.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 EPS 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 quarter last year, the company earned $0.62 EPS. The company'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. On average, equities analysts forecast that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andrew C. Teich acquired 29,460 shares of Resideo Technologies stock in a transaction on Friday, August 29th. The stock was bought at an average price of $34.01 per share, for a total transaction of $1,001,934.60. Following the transaction, the director owned 332,472 shares of the company's stock, valued at $11,307,372.72. The trade was a 9.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nina Richardson sold 3,333 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $34.55, for a total value of $115,155.15. Following the completion of the sale, the director owned 60,675 shares of the company's stock, valued at $2,096,321.25. This represents a 5.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 7,545,693 shares of company stock worth $194,098,517 and sold 136,021 shares worth $4,091,809. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on REZI. Morgan Stanley raised Resideo Technologies from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $24.00 to $35.00 in a report on Tuesday, August 12th. Zacks Research raised Resideo Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, September 22nd. Finally, Oppenheimer raised their target price on Resideo Technologies from $35.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Resideo Technologies presently has a consensus rating of "Buy" and a consensus target price of $34.67.

About Resideo Technologies

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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