Versor Investments LP Has $917,000 Position 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 increased its stake in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 131.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 51,800 shares of the company's stock after purchasing an additional 29,400 shares during the quarter. Versor Investments LP's holdings in Resideo Technologies were worth $917,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in REZI. Quarry LP acquired a new position in shares of Resideo Technologies in the fourth quarter valued at $28,000. IFP Advisors Inc raised its stake in shares of Resideo Technologies by 20,133.3% in the first quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock valued at $43,000 after purchasing an additional 2,416 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Resideo Technologies by 52.1% in the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock valued at $56,000 after purchasing an additional 1,087 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Resideo Technologies by 705.9% in the fourth quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock valued at $110,000 after purchasing an additional 4,165 shares in the last quarter. Finally, Natixis acquired a new position in shares of Resideo Technologies in the fourth quarter valued at $115,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Resideo Technologies Stock Performance

Shares of NYSE:REZI opened at $31.80 on Tuesday. The business's fifty day moving average price is $24.57 and its two-hundred day moving average price is $20.80. Resideo Technologies, Inc. has a fifty-two week low of $14.18 and a fifty-two week high of $33.03. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of -5.82 and a beta of 2.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63.

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. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.83 billion. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%. The business's revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, analysts predict that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

REZI has been the subject of a number of recent research reports. Oppenheimer upgraded Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Finally, Morgan Stanley upgraded 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 report on Tuesday, August 12th.

Insiders Place Their Bets

In other news, insider Robert B. Aarnes sold 47,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $28.00, for a total transaction of $1,316,000.00. Following the sale, the insider owned 503,692 shares in the company, valued at approximately $14,103,376. This represents a 8.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay L. Geldmacher sold 47,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $31.29, for a total value of $1,486,275.00. Following the sale, the chief executive officer owned 519,689 shares in the company, valued at $16,261,068.81. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 6,378,066 shares of company stock worth $155,873,011 and have sold 132,688 shares worth $3,976,654. Insiders own 1.50% of the company's stock.

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.

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