Insider Buying: Resideo Technologies, Inc. (NYSE:REZI) Major Shareholder Purchases 203,161 Shares of Stock

Key Points

• Channel Holdings Ii L.P. Cd&R, a major shareholder of Resideo Technologies, purchased a total of 203,161 shares on August 14th at an average price of $31.89, increasing their ownership of the company by 1.77%.
• Resideo Technologies reported earnings of $0.66 per share for the last quarter, exceeding analysts' expectations, with revenue rising by 22.3% year-over-year to $1.94 billion.
• A number of Wall Street analysts have upgraded their ratings for Resideo Technologies, with Morgan Stanley raising its target price significantly from $24.00 to $35.00.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) major shareholder Channel Holdings Ii L.P. Cd&R bought 203,161 shares of Resideo Technologies stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average price of $31.89 per share, with a total value of $6,478,804.29. Following the purchase, the insider directly owned 11,681,704 shares in the company, valued at $372,529,540.56. The trade was a 1.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Channel Holdings Ii L.P. Cd&R also recently made the following trade(s):

• On Monday, August 18th, Channel Holdings Ii L.P. Cd&R purchased 111,000 shares of Resideo Technologies stock. The shares were purchased at an average price of $31.66 per share, for a total transaction of $3,514,260.00.
• On Friday, August 15th, Channel Holdings Ii L.P. Cd&R acquired 339,863 shares of Resideo Technologies stock. The stock was purchased at an average price of $31.42 per share, with a total value of $10,678,495.46.
• On Tuesday, August 12th, Channel Holdings Ii L.P. Cd&R bought 339,728 shares of Resideo Technologies stock. The shares were purchased at an average cost of $30.75 per share, with a total value of $10,446,636.00.
• On Monday, August 11th, Channel Holdings Ii L.P. Cd&R bought 457,508 shares of Resideo Technologies stock. The shares were purchased at an average cost of $27.34 per share, with a total value of $12,508,268.72.
• On Friday, August 8th, Channel Holdings Ii L.P. Cd&R bought 448,887 shares of Resideo Technologies stock. The shares were purchased at an average cost of $27.30 per share, with a total value of $12,254,615.10.
• On Friday, July 25th, Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of Resideo Technologies stock. The shares were purchased at an average cost of $22.33 per share, with a total value of $99,991,931.27.

Resideo Technologies Stock Performance

Shares of NYSE REZI traded up $0.42 during trading on Monday, reaching $31.80. 1,007,133 shares of the company traded hands, compared to its average volume of 1,998,538. The firm's fifty day simple moving average is $24.57 and its 200 day simple moving average is $20.80. The stock has a market cap of $4.73 billion, a P/E ratio of -5.82 and a beta of 2.16. Resideo Technologies, Inc. has a 12-month low of $14.18 and a 12-month high of $33.03. 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 released its quarterly earnings data 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 business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.83 billion. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%. The company's revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. As a group, research analysts anticipate that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on REZI shares. Oppenheimer raised Resideo Technologies from a "market perform" rating to an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley upgraded Resideo Technologies from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $24.00 to $35.00 in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd.

Hedge Funds Weigh In On Resideo Technologies

A number of hedge funds have recently bought and sold shares of the business. Public Sector Pension Investment Board boosted its position in Resideo Technologies by 6.8% during the second quarter. Public Sector Pension Investment Board now owns 565,425 shares of the company's stock worth $12,473,000 after purchasing an additional 35,804 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Resideo Technologies in the 2nd quarter worth $34,000. CANADA LIFE ASSURANCE Co raised its position in Resideo Technologies by 0.9% during the second quarter. CANADA LIFE ASSURANCE Co now owns 170,832 shares of the company's stock worth $3,772,000 after acquiring an additional 1,503 shares during the period. Tower Research Capital LLC TRC raised its position in Resideo Technologies by 501.3% during the second quarter. Tower Research Capital LLC TRC now owns 16,367 shares of the company's stock worth $361,000 after acquiring an additional 13,645 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Resideo Technologies by 28.6% during the second quarter. Corient Private Wealth LLC now owns 17,604 shares of the company's stock valued at $388,000 after purchasing an additional 3,912 shares in the last quarter. Hedge funds and other institutional investors own 91.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.