Strs Ohio Increases Stake in Resideo Technologies, Inc. $REZI

Strs Ohio raised its stake in Resideo Technologies, Inc. (NYSE:REZI) by 7.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 46,800 shares of the company’s stock after purchasing an additional 3,300 shares during the quarter. Strs Ohio’s holdings in Resideo Technologies were worth $1,032,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in shares of Resideo Technologies by 20,133.3% in the first quarter. IFP Advisors Inc now owns 2,428 shares of the company’s stock worth $43,000 after buying an additional 2,416 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Resideo Technologies in the 1st quarter worth $65,000. GAMMA Investing LLC increased its position in shares of Resideo Technologies by 74.5% in the second quarter. GAMMA Investing LLC now owns 5,393 shares of the company’s stock valued at $119,000 after acquiring an additional 2,302 shares during the period. Blue Trust Inc. raised its stake in shares of Resideo Technologies by 113.0% during the second quarter. Blue Trust Inc. now owns 6,101 shares of the company’s stock valued at $135,000 after acquiring an additional 3,237 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Resideo Technologies by 132.7% during the second quarter. CWM LLC now owns 6,963 shares of the company’s stock valued at $154,000 after acquiring an additional 3,971 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Stock Performance

Resideo Technologies stock opened at $31.42 on Friday. Resideo Technologies, Inc. has a fifty-two week low of $14.18 and a fifty-two week high of $45.29. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of -6.71 and a beta of 2.22. The stock’s 50 day simple moving average is $40.30 and its two-hundred day simple moving average is $29.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 1.00.

Resideo Technologies (NYSE:REZI) last released its earnings results on Wednesday, November 5th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.18. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Resideo Technologies had a positive return on equity of 14.50% and a negative net margin of 8.85%.The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. Resideo Technologies has set its FY 2025 guidance at 2.570-2.670 EPS. Q4 2025 guidance at 0.420-0.520 EPS. As a group, analysts expect that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Activity

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R bought 228,573 shares of Resideo Technologies stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average cost of $33.63 per share, with a total value of $7,686,909.99. Following the transaction, the insider directly owned 13,270,734 shares of the company’s stock, valued at $446,294,784.42. This represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew C. Teich purchased 29,460 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were acquired at an average cost of $34.01 per share, with a total value of $1,001,934.60. Following the completion of the transaction, the director owned 332,472 shares in the company, valued at $11,307,372.72. This trade represents a 9.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 2,618,887 shares of company stock worth $81,851,970 and have sold 86,231 shares worth $2,709,742. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Oppenheimer raised their target price on Resideo Technologies from $35.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Zacks Research upgraded Resideo Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, September 22nd. Morgan Stanley upgraded Resideo Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $24.00 to $35.00 in a research report on Tuesday, August 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Resideo Technologies in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.67.

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.