Nuveen Asset Management LLC Acquires 567,800 Shares of Resideo Technologies, Inc. (NYSE:REZI)

Nuveen Asset Management LLC lifted its holdings in Resideo Technologies, Inc. (NYSE:REZI) by 32.4% in the fourth quarter, HoldingsChannel reports. The fund owned 2,320,863 shares of the company’s stock after buying an additional 567,800 shares during the period. Nuveen Asset Management LLC’s holdings in Resideo Technologies were worth $53,496,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in REZI. Pacer Advisors Inc. bought a new stake in shares of Resideo Technologies in the 4th quarter worth approximately $122,145,000. Boston Partners lifted its holdings in shares of Resideo Technologies by 25.1% in the 4th quarter. Boston Partners now owns 9,797,883 shares of the company’s stock worth $225,865,000 after acquiring an additional 1,966,706 shares during the last quarter. Norges Bank bought a new stake in shares of Resideo Technologies in the 4th quarter worth approximately $40,596,000. Federated Hermes Inc. bought a new stake in shares of Resideo Technologies in the 4th quarter worth approximately $35,542,000. Finally, Pembroke Management LTD lifted its holdings in shares of Resideo Technologies by 126.8% in the 4th quarter. Pembroke Management LTD now owns 667,421 shares of the company’s stock worth $15,384,000 after acquiring an additional 373,133 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors.

Resideo Technologies Trading Up 0.7%

NYSE:REZI opened at $21.17 on Monday. The company has a fifty day moving average of $17.35 and a 200 day moving average of $21.16. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $28.28. The company has a quick ratio of 1.10, a current ratio of 1.82 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $3.14 billion, a P/E ratio of 33.60 and a beta of 2.23.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). Resideo Technologies had a net margin of 1.69% and a return on equity of 11.12%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. On average, research analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered shares of Resideo Technologies from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $31.00 to $16.00 in a report on Tuesday, April 22nd.

Insider Buying and Selling at Resideo Technologies

In related news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 5,754,501 shares of Resideo Technologies stock in a transaction on Friday, May 9th. The shares were acquired at an average cost of $17.38 per share, with a total value of $100,013,227.38. Following the transaction, the insider now owns 5,754,501 shares in the company, valued at $100,013,227.38. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.

Resideo Technologies 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.