Vanguard Group Inc. Has $514.51 Million Stock Position in Resideo Technologies, Inc. $REZI

Key Points

• Vanguard trimmed its stake by 1.8% in Q4 but still owns 14,649,947 shares (about 9.79%) of Resideo, valued at roughly $514.51 million, and institutional investors now hold about 91.71% of the stock with other large increases from firms like Clayton Dubilier & Rice.
• Analyst sentiment is mixed—Morgan Stanley raised its price target to $50 and gave an "overweight" rating while others range from "outperform" to "sell," leaving a MarketBeat consensus of "Hold" with an average target of $39.67 versus a current share price near $39.42.

Vanguard Group Inc. trimmed its position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,649,947 shares of the company's stock after selling 274,624 shares during the quarter. Vanguard Group Inc. owned approximately 9.79% of Resideo Technologies worth $514,506,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in REZI. Clayton Dubilier & Rice LLC boosted its stake in shares of Resideo Technologies by 130.3% during the third quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company's stock valued at $573,706,000 after purchasing an additional 7,516,233 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Resideo Technologies by 1,325.0% during the third quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company's stock worth $81,553,000 after purchasing an additional 1,756,131 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Resideo Technologies by 365.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,966,157 shares of the company's stock worth $84,899,000 after purchasing an additional 1,543,952 shares during the period. Locust Wood Capital Advisers LLC acquired a new position in shares of Resideo Technologies during the third quarter worth $50,936,000. Finally, Samlyn Capital LLC acquired a new position in shares of Resideo Technologies during the third quarter worth $36,931,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Resideo Technologies from $42.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Resideo Technologies in a report on Tuesday, April 21st. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Resideo Technologies in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.67.

Resideo Technologies Price Performance

Shares of REZI opened at $39.42 on Tuesday. Resideo Technologies, Inc. has a 52-week low of $17.22 and a 52-week high of $45.29. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.14 and a current ratio of 1.91. The business's 50 day moving average price is $36.74 and its two-hundred day moving average price is $36.28. The firm has a market cap of $5.97 billion, a PE ratio of -9.78 and a beta of 1.75.

Resideo Technologies Profile

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.

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