Resideo Technologies (NYSE:REZI) SVP Acquires $315,223.86 in Stock

Resideo Technologies, Inc. (NYSE:REZI) SVP Joshua Peter Foster bought 15,317 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Resideo Technologies Trading Up 2.4%

Resideo Technologies stock opened at $21.52 on Thursday. The business has a 50 day moving average price of $30.84 and a two-hundred day moving average price of $33.65. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 9.52 and a beta of 1.63. Resideo Technologies, Inc. has a 12 month low of $20.10 and a 12 month high of $45.29.

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

Institutional Investors Weigh In On Resideo Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of REZI. BlackRock Inc. bought a new stake in Resideo Technologies during the 2nd quarter worth about $673,214,000. Franklin Resources Inc. lifted its position in shares of Resideo Technologies by 1,325.0% during the third 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 in the last quarter. Clayton Dubilier & Rice LLC grew its stake in shares of Resideo Technologies by 12.7% during the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company’s stock valued at $525,962,000 after purchasing an additional 1,689,758 shares during the last quarter. Pzena Investment Management LLC bought a new stake in shares of Resideo Technologies during the second quarter valued at approximately $52,458,000. Finally, Sachem Head Capital Management LP acquired a new stake in shares of Resideo Technologies in the fourth quarter valued at approximately $57,070,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on REZI shares. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Weiss Ratings raised shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Morgan Stanley cut their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research note on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target for the company. Finally, Zacks Research downgraded Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Resideo Technologies has an average rating of “Hold” and an average target price of $41.00.

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.