Prescott Group Capital Management L.L.C. Purchases 73,044 Shares of Resideo Technologies, Inc. $REZI

Prescott Group Capital Management L.L.C. purchased a new position in shares of Resideo Technologies, Inc. (NYSE:REZI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 73,044 shares of the company’s stock, valued at approximately $1,326,000.

Several other large investors have also recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new position in Resideo Technologies in the 2nd quarter valued at approximately $13,546,000. J. Goldman & Co LP purchased a new stake in Resideo Technologies during the second quarter worth $17,983,000. Bank of America Corp DE purchased a new stake in Resideo Technologies during the second quarter worth $32,325,000. Hsbc Holdings PLC boosted its position in Resideo Technologies by 659.0% during the first quarter. Hsbc Holdings PLC now owns 50,832 shares of the company’s stock worth $1,706,000 after purchasing an additional 44,135 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Resideo Technologies in the first quarter valued at $1,497,000. 91.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Resideo Technologies

In other news, CEO Thomas Surran purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the purchase, the chief executive officer owned 338,573 shares of the company’s stock, valued at approximately $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joshua Foster acquired 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, for a total transaction of $315,223.86. Following the purchase, the senior vice president directly owned 183,509 shares of the company’s stock, valued at $3,776,615.22. This represents a 9.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 41,245 shares of company stock valued at $848,115. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on REZI shares. Zacks Research upgraded shares of Resideo Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Citizens Jmp initiated coverage on shares of Resideo Technologies in a research report on Monday, October 19th. They set a “market outperform” rating and a $22.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. JPMorgan Chase & Co. assumed coverage on Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Evercore started coverage on Resideo Technologies in a research note on Monday, September 28th. They set an “outperform” rating and a $30.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.75.

Resideo Technologies Stock Performance

Shares of REZI stock opened at $19.29 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 8.53 and a beta of 1.58. Resideo Technologies, Inc. has a one year low of $15.90 and a one year high of $42.95. The company has a 50 day moving average price of $18.41 and a 200 day moving average price of $29.77.

Resideo Technologies (NYSE:REZI) last announced 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. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. Resideo Technologies’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. Sell-side analysts anticipate that Resideo Technologies, Inc. will post 2.16 EPS for the current year.

Resideo Technologies Profile

Resideo Technologies, Inc (NYSE: REZI) is a provider of products and services for residential and commercial comfort, security, and energy management. The company develops and supplies thermostats, heating and cooling controls, indoor air quality products, water-management solutions, security systems, and other connected home technologies. Its offerings are marketed under Resideo and other established brands, including Honeywell Home, through professional contractors, distributors, retailers, and other channels.

Resideo also operates ADI Global Distribution, a wholesale distributor of security, fire, low-voltage, and smart-home products.