Insider Buying: Resideo Technologies (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 purchased 203,161 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $31.89 per share, for a total transaction of $6,478,804.29. Following the transaction, the insider owned 11,681,704 shares of the company's stock, valued at approximately $372,529,540.56. This trade represents a 1.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Thursday, August 21st, Channel Holdings Ii L.P. Cd&R purchased 250,000 shares of Resideo Technologies stock. The stock was purchased at an average cost of $32.16 per share, for a total transaction of $8,040,000.00.
• On Wednesday, August 20th, Channel Holdings Ii L.P. Cd&R purchased 297,000 shares of Resideo Technologies stock. The stock was purchased at an average cost of $31.94 per share, for a total transaction of $9,486,180.00.
• On Tuesday, August 19th, Channel Holdings Ii L.P. Cd&R purchased 135,641 shares of Resideo Technologies stock. The stock was purchased at an average cost of $32.41 per share, for a total transaction of $4,396,124.81.
• On Monday, August 18th, Channel Holdings Ii L.P. Cd&R purchased 111,000 shares of Resideo Technologies stock. The stock was purchased at an average cost 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 bought 339,863 shares of Resideo Technologies stock. The shares were bought at an average cost of $31.42 per share, for a total transaction 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 bought at an average cost of $30.75 per share, for a total transaction 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 bought at an average cost of $27.34 per share, for a total transaction 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 bought at an average cost of $27.30 per share, for a total transaction 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 bought at an average cost of $22.33 per share, for a total transaction of $99,991,931.27.

Resideo Technologies Stock Performance

REZI stock traded up $1.8860 on Friday, reaching $33.9960. 2,109,973 shares of the company were exchanged, compared to its average volume of 2,163,590. Resideo Technologies, Inc. has a 12 month low of $14.18 and a 12 month high of $34.25. The stock's fifty day moving average price is $25.49 and its 200 day moving average price is $21.11. The firm has a market capitalization of $5.06 billion, a PE ratio of -6.23 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 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Resideo Technologies'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 anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on REZI. Morgan Stanley raised shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $24.00 to $35.00 in a research report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price target 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. Finally, Oppenheimer upgraded shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Resideo Technologies has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Institutional Investors Weigh In On Resideo Technologies

Several institutional investors and hedge funds have recently made changes to their positions in REZI. LPL Financial LLC boosted its stake in shares of Resideo Technologies by 26.5% in the 4th quarter. LPL Financial LLC now owns 35,851 shares of the company's stock valued at $826,000 after purchasing an additional 7,514 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Resideo Technologies by 26.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 104,813 shares of the company's stock worth $2,416,000 after buying an additional 22,214 shares in the last quarter. Bank of Montreal Can lifted its position in Resideo Technologies by 11.6% during the 4th quarter. Bank of Montreal Can now owns 17,205 shares of the company's stock worth $397,000 after buying an additional 1,788 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Resideo Technologies during the 4th quarter worth about $5,914,000. Finally, Sterling Capital Management LLC lifted its position in Resideo Technologies by 705.9% during the 4th quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock worth $110,000 after buying an additional 4,165 shares in the last quarter. Institutional investors and hedge funds own 91.71% 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.