Locust Wood Capital Advisers LLC Takes $50.94 Million Position in Resideo Technologies, Inc. $REZI

Locust Wood Capital Advisers LLC acquired a new position in shares of Resideo Technologies, Inc. (NYSE:REZI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,179,614 shares of the company’s stock, valued at approximately $50,936,000. Resideo Technologies makes up approximately 1.3% of Locust Wood Capital Advisers LLC’s portfolio, making the stock its 27th biggest holding. Locust Wood Capital Advisers LLC owned 0.79% of Resideo Technologies as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Resideo Technologies by 274.7% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 83,892 shares of the company’s stock valued at $3,622,000 after buying an additional 61,504 shares during the last quarter. Seizert Capital Partners LLC bought a new stake in shares of Resideo Technologies in the 3rd quarter valued at $2,696,000. Violich Capital Management Inc. bought a new position in shares of Resideo Technologies during the 3rd quarter valued at about $237,000. Wealth Enhancement Advisory Services LLC lifted its position in Resideo Technologies by 2.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,912 shares of the company’s stock valued at $455,000 after acquiring an additional 262 shares in the last quarter. Finally, Quantum Portfolio Management LLC bought a new position in shares of Resideo Technologies during the third quarter worth about $252,000. 91.71% of the stock is owned by institutional investors.

Insider Transactions at Resideo Technologies

In other news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 566,758 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average cost of $31.82 per share, with a total value of $18,034,239.56. Following the acquisition, the insider owned 14,960,492 shares in the company, valued at approximately $476,042,855.44. This represents a 3.94% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew C. Teich bought 8,149 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $30.68 per share, with a total value of $250,011.32. Following the completion of the acquisition, the director directly owned 340,621 shares in the company, valued at $10,450,252.28. This trade represents a 2.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,697,907 shares of company stock worth $53,222,621 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

REZI has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Resideo Technologies in a research report on Wednesday, October 8th. Zacks Research cut Resideo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Wall Street Zen lowered Resideo Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Resideo Technologies presently has a consensus rating of “Hold” and an average price target of $34.67.

Resideo Technologies Stock Performance

Shares of Resideo Technologies stock opened at $36.50 on Thursday. The firm has a market capitalization of $5.46 billion, a P/E ratio of -7.80 and a beta of 1.71. The business’s fifty day simple moving average is $34.62 and its 200 day simple moving average is $34.61. The company has a current ratio of 1.88, a quick ratio of 1.07 and a debt-to-equity ratio of 1.38. Resideo Technologies, Inc. has a 12 month low of $14.18 and a 12 month high of $45.29.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.18. Resideo Technologies had a positive return on equity of 14.96% and a negative net margin of 8.85%.The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Resideo Technologies has set its FY 2025 guidance at 2.570-2.670 EPS and its Q4 2025 guidance at 0.420-0.520 EPS. As a group, analysts anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

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.