Resideo Technologies, Inc. (NYSE:REZI) Major Shareholder Acquires $99,991,931.27 in Stock

Key Points

• Channel Holdings II L.P. Cd&R purchased 4,477,919 shares of Resideo Technologies for $99,991,931.27, increasing their stake to a total of 10,232,420 shares in the company.
• Resideo Technologies stock saw a slight rise of 0.5% during trading, reaching a price of $24.45, with 543,070 shares exchanged.
• Institutional investors and hedge funds now own 91.71% of Resideo Technologies' stock, indicating strong institutional interest in the company.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) major shareholder Channel Holdings Ii L.P. Cd&R purchased 4,477,919 shares of Resideo Technologies stock in a transaction on Friday, July 25th. The stock was bought at an average price of $22.33 per share, with a total value of $99,991,931.27. Following the transaction, the insider owned 10,232,420 shares of the company's stock, valued at approximately $228,489,938.60. This represents a 77.82% 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 Friday, May 9th, Channel Holdings Ii L.P. Cd&R acquired 5,754,501 shares of Resideo Technologies stock. The stock was acquired at an average cost of $17.38 per share, with a total value of $100,013,227.38.

Resideo Technologies Price Performance

Shares of NYSE REZI traded down $0.33 during mid-day trading on Tuesday, reaching $24.52. The company's stock had a trading volume of 944,560 shares, compared to its average volume of 941,069. The firm has a market capitalization of $3.64 billion, a PE ratio of 76.64 and a beta of 2.15. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.94 and a quick ratio of 1.16. The stock has a fifty day moving average of $22.22 and a two-hundred day moving average of $20.21. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $28.28.

Hedge Funds Weigh In On Resideo Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Resideo Technologies during the fourth quarter valued at approximately $28,000. IFP Advisors Inc raised its position in Resideo Technologies by 20,133.3% during 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 during the period. Versant Capital Management Inc raised its position in Resideo Technologies by 52.1% during 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 during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Resideo Technologies during the first quarter valued at approximately $65,000. Finally, Sterling Capital Management LLC raised its position in Resideo Technologies by 705.9% during 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 during the period. 91.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price objective on Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd.

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.