Maryland State Retirement & Pension System Cuts Stake in Resideo Technologies, Inc. $REZI

Maryland State Retirement & Pension System lessened its stake in shares of Resideo Technologies, Inc. (NYSE:REZI) by 54.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,676 shares of the company’s stock after selling 23,967 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Resideo Technologies were worth $850,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Clayton Dubilier & Rice LLC purchased a new stake in shares of Resideo Technologies during the 2nd quarter valued at about $127,290,000. Geode Capital Management LLC grew its position in Resideo Technologies by 1.6% in the second quarter. Geode Capital Management LLC now owns 3,501,932 shares of the company’s stock valued at $77,261,000 after acquiring an additional 55,666 shares in the last quarter. Prudential Financial Inc. grew its position in Resideo Technologies by 12.8% in the second quarter. Prudential Financial Inc. now owns 2,860,731 shares of the company’s stock valued at $63,108,000 after acquiring an additional 325,410 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Resideo Technologies by 1.6% during the second quarter. Pzena Investment Management LLC now owns 2,687,128 shares of the company’s stock valued at $59,278,000 after purchasing an additional 41,808 shares during the period. Finally, Norges Bank acquired a new position in shares of Resideo Technologies during the second quarter worth $40,374,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Resideo Technologies

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

Resideo Technologies Trading Up 1.8%

REZI opened at $36.50 on Thursday. The stock has a market capitalization of $5.46 billion, a PE ratio of -7.80 and a beta of 1.71. The firm’s fifty day moving average price is $34.62 and its 200 day moving average price is $34.61. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.88 and a quick ratio of 1.07. 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. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.88 billion. Resideo Technologies had a negative net margin of 8.85% and a positive return on equity of 14.96%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. 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, research analysts expect that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Resideo Technologies Company 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.