Versor Investments LP Increases Stake in Resideo Technologies, Inc. $REZI

Key Points

• Versor Investments LP significantly increased its stake in Resideo Technologies, raising its holdings by 131.3% in the first quarter, now owning 51,800 shares worth approximately $917,000.
• Resideo Technologies reported $0.66 earnings per share for the last quarter, exceeding analysts' expectations, with revenues of $1.94 billion, a 22.3% increase compared to the previous year.
• Several analysts have upgraded Resideo Technologies’ stock ratings, with Oppenheimer moving it from "market perform" to "outperform" and Morgan Stanley raising the price target to $35.00.

Versor Investments LP lifted its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 131.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,800 shares of the company's stock after buying an additional 29,400 shares during the period. Versor Investments LP's holdings in Resideo Technologies were worth $917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Summit Investment Advisors Inc. lifted its stake in shares of Resideo Technologies by 4.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,280 shares of the company's stock worth $352,000 after buying an additional 663 shares in the last quarter. Steph & Co. raised its stake in Resideo Technologies by 6.9% during the first quarter. Steph & Co. now owns 12,209 shares of the company's stock worth $216,000 after purchasing an additional 787 shares during the period. Tower Research Capital LLC TRC raised its stake in Resideo Technologies by 8.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,582 shares of the company's stock worth $267,000 after purchasing an additional 933 shares during the period. Versant Capital Management Inc raised its stake in Resideo Technologies by 52.1% during the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock worth $56,000 after purchasing an additional 1,087 shares during the period. Finally, Quarry LP purchased a new position in Resideo Technologies during the fourth quarter worth about $28,000. 91.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, CEO Jay L. Geldmacher sold 47,500 shares of Resideo Technologies stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $31.29, for a total transaction of $1,486,275.00. Following the completion of the sale, the chief executive officer directly owned 519,689 shares in the company, valued at $16,261,068.81. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Channel Holdings Ii L.P. Cd&R acquired 250,000 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was acquired at an average price of $32.16 per share, with a total value of $8,040,000.00. Following the acquisition, the insider directly owned 12,815,208 shares of the company's stock, valued at approximately $412,137,089.28. This represents a 1.99% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 7,060,707 shares of company stock worth $177,795,316 and sold 132,688 shares worth $3,976,654. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on REZI. Morgan Stanley raised shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $24.00 to $35.00 in a research note on Tuesday, August 12th. Oppenheimer raised shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price 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. Two 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Resideo Technologies Trading Up 5.9%

Shares of REZI traded up $1.8860 during trading on Friday, reaching $33.9960. 2,109,973 shares of the company traded hands, compared to its average volume of 2,241,748. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $34.25. The stock has a market cap of $5.06 billion, a PE ratio of -6.23 and a beta of 2.16. The stock has a 50-day simple moving average of $25.49 and a 200-day simple moving average of $21.10. 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 announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share for the quarter, beating 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 analysts' expectations of $1.83 billion. During the same period last year, the business earned $0.62 earnings per share. The business's revenue for the quarter 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, analysts anticipate that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

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.