Strs Ohio Takes $770,000 Position in Resideo Technologies, Inc. $REZI

Key Points

• Strs Ohio acquired a new stake in Resideo Technologies, Inc. by purchasing 43,500 shares valued at approximately $770,000 during Q1.
• Analysts have raised their price targets for Resideo Technologies, with Oppenheimer increasing its target from $35 to $48, reflecting a positive outlook for the stock.
• Insiders have been actively trading shares, with a total of 7,545,693 shares bought and 136,021 shares sold over the last ninety days, indicating significant confidence among company executives.

Strs Ohio acquired a new position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 43,500 shares of the company's stock, valued at approximately $770,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its position in Resideo Technologies by 2.5% during the 1st quarter. Hsbc Holdings PLC now owns 23,372 shares of the company's stock worth $412,000 after purchasing an additional 578 shares in the last quarter. Steph & Co. grew its holdings in Resideo Technologies by 6.9% during the 1st quarter. Steph & Co. now owns 12,209 shares of the company's stock worth $216,000 after acquiring an additional 787 shares during the last quarter. Versant Capital Management Inc grew its holdings in Resideo Technologies by 52.1% during the 1st quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock worth $56,000 after acquiring an additional 1,087 shares during the last quarter. Nilsine Partners LLC grew its holdings in Resideo Technologies by 8.0% during the 1st quarter. Nilsine Partners LLC now owns 16,858 shares of the company's stock worth $298,000 after acquiring an additional 1,251 shares during the last quarter. Finally, State of Wyoming grew its holdings in Resideo Technologies by 7.4% during the 1st quarter. State of Wyoming now owns 18,512 shares of the company's stock worth $328,000 after acquiring an additional 1,279 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Resideo Technologies Stock Up 0.6%

Shares of REZI stock traded up $0.25 on Monday, hitting $42.28. The stock had a trading volume of 775,273 shares, compared to its average volume of 1,315,426. Resideo Technologies, Inc. has a 12-month low of $14.18 and a 12-month high of $42.99. The business has a 50 day moving average of $31.03 and a 200 day moving average of $23.36. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of -7.74 and a beta of 2.24.

Resideo Technologies (NYSE:REZI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business 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 posted $0.62 earnings per share. The firm's quarterly 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. As a group, analysts expect that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Insiders Place Their Bets

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of the business's stock in a transaction on Friday, July 25th. The stock was purchased at an average price of $22.33 per share, for a total transaction of $99,991,931.27. Following the completion of the transaction, the insider directly owned 10,232,420 shares of the company's stock, valued at $228,489,938.60. This trade represents a 77.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have bought 7,545,693 shares of company stock worth $194,098,517 and have sold 136,021 shares worth $4,091,809. 1.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective 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. Morgan Stanley raised shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $24.00 to $35.00 in a research note on Tuesday, August 12th. Finally, Oppenheimer upped their price objective on shares of Resideo Technologies from $35.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Resideo Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $34.67.

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.