Federated Hermes Inc. Sells 55,206 Shares of Resideo Technologies, Inc. $REZI

Federated Hermes Inc. trimmed its position in shares of Resideo Technologies, Inc. (NYSE:REZI) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 486,126 shares of the company’s stock after selling 55,206 shares during the quarter. Federated Hermes Inc. owned about 0.33% of Resideo Technologies worth $20,991,000 at the end of the most recent reporting period.

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

Insider Transactions at Resideo Technologies

In other news, Director Andrew C. Teich bought 8,149 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $30.68 per share, with a total value of $250,011.32. Following 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Channel Holdings Ii L.P. Cd&R bought 566,758 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $31.82 per share, with a total value of $18,034,239.56. Following the completion of the purchase, the insider owned 14,960,492 shares in the company, valued at approximately $476,042,855.44. This trade represents a 3.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 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.

Resideo Technologies Stock Performance

Shares of NYSE REZI opened at $34.25 on Friday. 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. The company has a 50 day simple moving average of $35.27 and a two-hundred day simple moving average of $35.07. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of -7.32 and a beta of 1.71.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.18. The firm had revenue of $1.86 billion for 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 business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 earnings per share. 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 predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on REZI shares. Zacks Research lowered shares of Resideo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Resideo Technologies in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of 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 issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Resideo Technologies has an average rating of “Hold” and a consensus target price of $34.67.

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.