Resideo Technologies, Inc. $REZI Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Resideo Technologies, Inc. (NYSE:REZI) by 10.2% in the third quarter, Holdings Channel reports. The institutional investor owned 660,948 shares of the company’s stock after selling 75,395 shares during the quarter. Principal Financial Group Inc.’s holdings in Resideo Technologies were worth $28,540,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in REZI. Royal Bank of Canada grew its position in Resideo Technologies by 50.0% in the first quarter. Royal Bank of Canada now owns 49,395 shares of the company’s stock worth $873,000 after acquiring an additional 16,467 shares during the period. AQR Capital Management LLC raised its position in Resideo Technologies by 58.9% in the first quarter. AQR Capital Management LLC now owns 122,734 shares of the company’s stock valued at $2,172,000 after purchasing an additional 45,517 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Resideo Technologies by 7.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,161 shares of the company’s stock valued at $2,233,000 after purchasing an additional 9,106 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Resideo Technologies by 1,123.6% during the 1st quarter. Millennium Management LLC now owns 263,821 shares of the company’s stock worth $4,670,000 after purchasing an additional 242,260 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Resideo Technologies by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company’s stock worth $7,773,000 after purchasing an additional 26,254 shares during the period. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Stock Performance

NYSE REZI opened at $36.38 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.88 and a quick ratio of 1.07. The company has a market cap of $5.45 billion, a P/E ratio of -7.77 and a beta of 1.73. The stock has a 50-day moving average of $35.59 and a two-hundred day moving average of $35.49. Resideo Technologies, Inc. has a 1-year low of $14.18 and a 1-year high of $45.29.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.71 by $0.18. Resideo Technologies had a negative net margin of 8.85% and a positive return on equity of 14.96%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, Director Andrew C. Teich purchased 8,149 shares of the company’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $30.68 per share, for a total transaction of $250,011.32. Following the completion of the purchase, the director directly owned 340,621 shares in the company, valued at approximately $10,450,252.28. The trade was a 2.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Channel Holdings Ii L.P. Cd&R acquired 566,758 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $31.82 per share, for a total transaction of $18,034,239.56. Following the transaction, the insider directly owned 14,960,492 shares of the company’s stock, valued at approximately $476,042,855.44. This trade represents a 3.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 1,697,907 shares of company stock valued at $53,222,621 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on REZI. Zacks Research lowered shares of Resideo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Wall Street Zen downgraded shares of Resideo Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Resideo Technologies in a report on Thursday, January 22nd. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.67.

About Resideo Technologies

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.