Resideo Technologies (NYSE:REZI) Director Nina Richardson Sells 2,789 Shares

Key Points

• Director Nina Richardson sold 2,789 shares on August 12 at an average price of $29.67 for about $82,750 under a pre-arranged Rule 10b5-1 plan, trimming her stake by 4.6% to 57,886 shares.
• Resideo shares traded down to $37.67 (12‑month range $14.82–$45.29) and the analyst consensus is Hold with a $39.67 target, although Morgan Stanley raised its target to $50 and Oppenheimer rates the stock "outperform."
• Significant institutional activity was reported—Clayton Dubilier & Rice boosted its position to about 13.29 million shares and overall institutional ownership stands near 91.71%.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) Director Nina Richardson sold 2,789 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $29.67, for a total value of $82,749.63. Following the transaction, the director directly owned 57,886 shares of the company's stock, valued at approximately $1,717,477.62. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Resideo Technologies Stock Down 0.4%

NYSE:REZI traded down $0.15 during mid-day trading on Friday, hitting $37.67. The stock had a trading volume of 681,740 shares, compared to its average volume of 1,276,389. Resideo Technologies, Inc. has a twelve month low of $14.82 and a twelve month high of $45.29. The stock has a 50-day simple moving average of $35.51 and a two-hundred day simple moving average of $36.55. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $5.70 billion, a PE ratio of -9.35 and a beta of 1.70.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on REZI. Oppenheimer reaffirmed an "outperform" rating on shares of Resideo Technologies in a research report on Friday, March 13th. Morgan Stanley increased their target price on Resideo Technologies from $42.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Resideo Technologies in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $39.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Resideo Technologies by 274.7% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 83,892 shares of the company's stock valued at $3,622,000 after acquiring an additional 61,504 shares during the period. Clayton Dubilier & Rice LLC lifted its position in Resideo Technologies by 130.3% during the 3rd quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company's stock worth $573,706,000 after acquiring an additional 7,516,233 shares during the period. Alpha Wave Global LP purchased a new position in shares of Resideo Technologies in the 3rd quarter valued at approximately $8,811,000. Hudson Bay Capital Management LP purchased a new position in shares of Resideo Technologies in the 3rd quarter valued at approximately $3,022,000. Finally, Seizert Capital Partners LLC acquired a new position in shares of Resideo Technologies in the third quarter valued at approximately $2,696,000. 91.71% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.