Resideo Technologies, Inc. (NYSE:REZI) Major Shareholder Acquires $12,254,615.10 in Stock

Key Points

• Channel Holdings Ii L.P. Cd&R, a major shareholder, acquired $12,254,615.10 worth of Resideo Technologies stock, increasing their holdings to approximately 10.68 million shares valued at $291.6 million.
• Resideo Technologies reported $0.66 EPS for the last quarter, exceeding estimates and showing a 22.3% revenue increase year-over-year, with total revenue of $1.94 billion.
• The company's stock price rose 13.8% during midday trading, reaching $31.26 with significant trading volume above its average.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) major shareholder Channel Holdings Ii L.P. Cd&R purchased 448,887 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $27.30 per share, for a total transaction of $12,254,615.10. Following the completion of the purchase, the insider owned 10,681,307 shares of the company's stock, valued at approximately $291,599,681.10. This represents a 4.39% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's stock 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 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, for a total transaction of $10,446,636.00.
• On Monday, August 11th, Channel Holdings Ii L.P. Cd&R purchased 457,508 shares of Resideo Technologies stock. The stock was bought at an average cost of $27.34 per share, for a total transaction of $12,508,268.72.
• On Friday, July 25th, Channel Holdings Ii L.P. Cd&R acquired 4,477,919 shares of Resideo Technologies stock. The stock was acquired at an average price of $22.33 per share, with a total value of $99,991,931.27.

Resideo Technologies Trading Up 13.8%

REZI stock traded up $3.79 during midday trading on Tuesday, reaching $31.26. 4,311,675 shares of the company's stock traded hands, compared to its average volume of 1,597,355. The business has a 50-day moving average price of $23.70 and a two-hundred day moving average price of $20.55. Resideo Technologies, Inc. has a fifty-two week low of $14.18 and a fifty-two week high of $31.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63. The company has a market capitalization of $4.65 billion, a P/E ratio of -5.73 and a beta of 2.16.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The business's revenue was up 22.3% compared to the same quarter last year. Equities research analysts forecast that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Institutional Trading of Resideo Technologies

Institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in Resideo Technologies by 1.0% in the 2nd quarter. Amalgamated Bank now owns 42,164 shares of the company's stock valued at $930,000 after acquiring an additional 415 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Resideo Technologies by 4.3% during the 2nd quarter. QRG Capital Management Inc. now owns 10,565 shares of the company's stock worth $233,000 after buying an additional 437 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Resideo Technologies by 2.5% in the 1st quarter. Hsbc Holdings PLC now owns 23,372 shares of the company's stock valued at $412,000 after purchasing an additional 578 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Resideo Technologies by 0.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 162,259 shares of the company's stock valued at $3,579,000 after purchasing an additional 625 shares during the period. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Resideo Technologies by 4.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 15,280 shares of the company's stock valued at $352,000 after purchasing an additional 663 shares during the period. Institutional investors own 91.71% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on REZI. Oppenheimer upgraded shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased 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, Morgan Stanley upgraded shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $24.00 to $35.00 in a research report on Tuesday.

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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