Strs Ohio Acquires New Holdings 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 purchased a new position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 43,500 shares of the company's stock, valued at approximately $770,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Resideo Technologies by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 794,943 shares of the company's stock valued at $14,070,000 after purchasing an additional 20,301 shares during the period. Intech Investment Management LLC raised its holdings in shares of Resideo Technologies by 26.3% in the 1st quarter. Intech Investment Management LLC now owns 156,847 shares of the company's stock valued at $2,776,000 after purchasing an additional 32,672 shares during the period. Petrus Trust Company LTA bought a new stake in shares of Resideo Technologies in the 1st quarter valued at about $240,000. GAMMA Investing LLC raised its holdings in shares of Resideo Technologies by 1,296.4% in the 1st quarter. GAMMA Investing LLC now owns 54,711 shares of the company's stock valued at $968,000 after purchasing an additional 50,793 shares during the period. Finally, Natixis Advisors LLC raised its holdings in shares of Resideo Technologies by 2.6% in the 1st quarter. Natixis Advisors LLC now owns 227,759 shares of the company's stock valued at $4,031,000 after purchasing an additional 5,674 shares during the period. 91.71% of the stock is owned by institutional investors.

Resideo Technologies Stock Performance

Shares of NYSE:REZI traded up $0.77 on Tuesday, reaching $42.90. 108,623 shares of the company's stock were exchanged, compared to its average volume of 1,314,845. The company has a fifty day moving average of $31.40 and a 200-day moving average of $23.52. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $42.99. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of -7.85 and a beta of 2.24. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its earnings results 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the business posted $0.62 EPS. The business'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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Resideo Technologies from $35.00 to $48.00 and gave the company an "outperform" rating in a report on Friday. Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $24.00 to $35.00 in a research note 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 given a Hold rating to the company's stock. According to MarketBeat, Resideo Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $34.67.

Insider Activity

In other news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 4,477,919 shares of Resideo Technologies stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $22.33 per share, for a total transaction of $99,991,931.27. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders have purchased 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 currently owned by insiders.

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.