Steph & Co. Decreases Holdings in Resideo Technologies, Inc. $REZI

Key Points

• Steph & Co. has decreased its holdings in Resideo Technologies, Inc. by 63.0% during the second quarter, selling 7,695 shares to own 4,514 shares valued at approximately $100,000.
• JPMorgan Chase & Co. and Morgan Stanley have recently upgraded their ratings and price targets for Resideo Technologies, with Morgan Stanley raising the target from $24.00 to $35.00.
• Resideo Technologies reported a quarterly revenue of $1.94 billion, exceeding analyst expectations, along with an EPS of $0.66, surpassing the consensus estimate by $0.12.

Steph & Co. reduced its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 63.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,514 shares of the company's stock after selling 7,695 shares during the period. Steph & Co.'s holdings in Resideo Technologies were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in REZI. GAMMA Investing LLC boosted its stake in shares of Resideo Technologies by 74.5% in the second quarter. GAMMA Investing LLC now owns 5,393 shares of the company's stock valued at $119,000 after purchasing an additional 2,302 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Resideo Technologies in the 2nd quarter valued at $678,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Resideo Technologies in the 2nd quarter valued at $256,000. Harbor Capital Advisors Inc. increased its holdings in shares of Resideo Technologies by 8.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 35,480 shares of the company's stock valued at $783,000 after acquiring an additional 2,647 shares during the period. Finally, Strs Ohio acquired a new position in Resideo Technologies in the 1st quarter valued at $770,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on REZI. JPMorgan Chase & Co. upped their price target on shares of Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $24.00 to $35.00 in a report on Tuesday, August 12th. Zacks Research upgraded shares of Resideo Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, Oppenheimer increased their price objective on shares of Resideo Technologies from $35.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $34.67.

Resideo Technologies Price Performance

NYSE:REZI opened at $40.79 on Friday. The business's 50-day moving average price is $32.45 and its 200 day moving average price is $23.92. The firm has a market cap of $6.07 billion, a P/E ratio of -7.47 and a beta of 2.24. Resideo Technologies, Inc. has a 52-week low of $14.18 and a 52-week high of $42.99. 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 (NYSE:REZI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share 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 firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter last year, the business posted $0.62 EPS. Resideo Technologies's 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. As a group, sell-side 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 related news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 4,477,919 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of $22.33 per share, with a total value of $99,991,931.27. Following the purchase, the insider owned 10,232,420 shares of the company's stock, valued at approximately $228,489,938.60. The trade was a 77.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders purchased 7,545,693 shares of company stock valued at $194,098,517 and sold 136,021 shares valued at $4,091,809. Insiders own 1.50% of the company's stock.

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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