J. Goldman & Co LP Invests $17.98 Million in Resideo Technologies, Inc. $REZI

J. Goldman & Co LP bought a new stake in shares of Resideo Technologies, Inc. (NYSE:REZI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 578,222 shares of the company’s stock, valued at approximately $17,983,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Resideo Technologies during the second quarter valued at $673,214,000. Franklin Resources Inc. grew its holdings in shares of Resideo Technologies by 1,325.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company’s stock worth $81,553,000 after purchasing an additional 1,756,131 shares during the last quarter. Clayton Dubilier & Rice LLC increased its position in shares of Resideo Technologies by 12.7% during the 4th quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company’s stock worth $525,962,000 after purchasing an additional 1,689,758 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Resideo Technologies during the 2nd quarter worth about $52,458,000. Finally, Sachem Head Capital Management LP bought a new position in Resideo Technologies during the 4th quarter valued at about $57,070,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Resideo Technologies

In related news, SVP Joshua Peter Foster bought 15,317 shares of the business’s stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $20.58 per share, with a total value of $315,223.86. Following the completion of the purchase, the senior vice president owned 183,509 shares of the company’s stock, valued at $3,776,615.22. This represents a 9.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Amit Ashvin Mehta purchased 10,928 shares of the stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $20.68 per share, with a total value of $225,991.04. Following the completion of the purchase, the senior vice president owned 57,362 shares in the company, valued at $1,186,246.16. The trade was a 23.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 41,245 shares of company stock valued at $848,115. 1.60% of the stock is currently owned by company insiders.

Resideo Technologies Price Performance

REZI opened at $19.91 on Wednesday. The company has a fifty day moving average price of $29.90 and a two-hundred day moving average price of $33.21. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. Resideo Technologies, Inc. has a 52 week low of $18.96 and a 52 week high of $45.29. The firm has a market capitalization of $3.02 billion, a PE ratio of 8.81 and a beta of 1.63.

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

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.