Joshua Peter Foster Buys 15,317 Shares of Resideo Technologies (NYSE:REZI) Stock

Key Points

• Resideo SVP Joshua Peter Foster purchased 15,317 shares at an average price of $20.58, investing approximately $315,224 and increasing his direct ownership by 9.11% to 183,509 shares.
• Resideo reported quarterly EPS of $0.83, beating the $0.47 consensus estimate, while revenue reached $1.98 billion and increased 2% year over year.
• REZI shares rose 4.7% to $21.46, but analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and a $41 average price target.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) SVP Joshua Peter Foster acquired 15,317 shares of the business's stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the acquisition, the senior vice president directly owned 183,509 shares in the company, valued at $3,776,615.22. This represents a 9.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Resideo Technologies Stock Up 4.7%

REZI stock traded up $0.96 during trading hours on Monday, reaching $21.46. 1,257,688 shares of the stock were exchanged, compared to its average volume of 1,500,948. The firm's 50-day moving average is $31.39 and its 200-day moving average is $33.91. Resideo Technologies, Inc. has a 12 month low of $20.10 and a 12 month high of $45.29. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 9.51 and a beta of 1.63. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.47 by $0.36. The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The firm's revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, equities research analysts expect that Resideo Technologies, Inc. will post 2.81 earnings per share for the current year.

Institutional Trading of Resideo Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Resideo Technologies by 50.0% during the 1st quarter. Royal Bank of Canada now owns 49,395 shares of the company's stock valued at $873,000 after acquiring an additional 16,467 shares during the period. AQR Capital Management LLC lifted its position in shares of Resideo Technologies by 58.9% during the first quarter. AQR Capital Management LLC now owns 122,734 shares of the company's stock valued at $2,172,000 after purchasing an additional 45,517 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Resideo Technologies by 7.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,161 shares of the company's stock valued at $2,233,000 after acquiring an additional 9,106 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Resideo Technologies by 1,123.6% in the 1st quarter. Millennium Management LLC now owns 263,821 shares of the company's stock worth $4,670,000 after buying an additional 242,260 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Resideo Technologies by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company's stock valued at $7,773,000 after acquiring an additional 26,254 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Oppenheimer reaffirmed an "outperform" rating on shares of Resideo Technologies in a research report on Thursday. Seaport Research Partners began coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They set a "buy" rating and a $55.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of Resideo Technologies in a report on Friday, August 7th. They set a "neutral" rating and a $30.00 target price on the stock. Morgan Stanley dropped their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, July 13th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Resideo Technologies in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $41.00.

About Resideo Technologies

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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