Miller Value Partners LLC Buys Shares of 68,931 Resideo Technologies, Inc. $REZI

Miller Value Partners LLC bought a new position in shares of Resideo Technologies, Inc. (NYSE:REZI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 68,931 shares of the company’s stock, valued at approximately $2,144,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in REZI. Danske Bank A S boosted its stake in shares of Resideo Technologies by 600.0% in the 4th quarter. Danske Bank A S now owns 700 shares of the company’s stock valued at $25,000 after purchasing an additional 600 shares in the last quarter. Larson Financial Group LLC increased its position in Resideo Technologies by 283.8% during the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after purchasing an additional 420 shares in the last quarter. Allworth Financial LP acquired a new position in Resideo Technologies during the 2nd quarter worth approximately $28,000. McMillan Office Inc. bought a new position in Resideo Technologies in the 4th quarter valued at approximately $33,000. Finally, Kestra Advisory Services LLC bought a new position in Resideo Technologies in the 4th quarter valued at approximately $34,000. Institutional investors own 91.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Zacks Research cut shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Morgan Stanley cut their price objective on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. initiated coverage on Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price for the company. Two 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 company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $41.00.

Resideo Technologies Trading Up 3.3%

REZI opened at $19.91 on Wednesday. Resideo Technologies, Inc. has a fifty-two week low of $18.96 and a fifty-two week high of $45.29. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 8.81 and a beta of 1.63. The company’s 50 day moving average price is $29.90 and its two-hundred day moving average price is $33.21.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.36. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, research analysts predict that Resideo Technologies, Inc. will post 2.81 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Thomas A. Surran bought 15,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $20.46 per share, with a total value of $306,900.00. Following the transaction, the chief executive officer directly owned 338,573 shares in the company, valued at approximately $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joshua Peter Foster bought 15,317 shares of the business’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the completion of the acquisition, the senior vice president directly owned 183,509 shares in the company, valued at approximately $3,776,615.22. This trade represents a 9.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 41,245 shares of company stock valued at $848,115 in the last three months. Insiders own 1.60% of the company’s stock.

Resideo Technologies Profile

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.