Sachem Head Capital Management LP Acquires New Holdings in Resideo Technologies, Inc. $REZI

Sachem Head Capital Management LP acquired a new stake in shares of Resideo Technologies, Inc. (NYSE:REZI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,625,000 shares of the company’s stock, valued at approximately $57,070,000. Resideo Technologies accounts for approximately 1.3% of Sachem Head Capital Management LP’s investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in REZI. Royal Bank of Canada boosted its position in Resideo Technologies by 50.0% during the first quarter. Royal Bank of Canada now owns 49,395 shares of the company’s stock valued at $873,000 after purchasing an additional 16,467 shares in the last quarter. AQR Capital Management LLC boosted its position in Resideo Technologies by 58.9% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Resideo Technologies by 7.8% during the first 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 in the last quarter. Millennium Management LLC boosted its position in Resideo Technologies by 1,123.6% during the first quarter. Millennium Management LLC now owns 263,821 shares of the company’s stock valued at $4,670,000 after purchasing an additional 242,260 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Resideo Technologies by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company’s stock valued at $7,773,000 after purchasing an additional 26,254 shares in the last quarter. Institutional investors own 91.71% of the company’s stock.

Resideo Technologies Price Performance

Shares of NYSE REZI opened at $31.59 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.19 and a current ratio of 2.07. The company has a market cap of $4.78 billion, a PE ratio of -8.23 and a beta of 1.64. The business has a 50-day simple moving average of $34.75 and a two-hundred day simple moving average of $35.19. Resideo Technologies, Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $45.29.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. Resideo Technologies had a positive return on equity of 16.70% and a negative net margin of 6.71%.The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. Resideo Technologies has set its FY 2026 guidance at 3.000-3.200 EPS and its Q2 2026 guidance at 0.710-0.750 EPS. As a group, equities analysts expect that Resideo Technologies, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on REZI shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Resideo Technologies in a research report on Tuesday, April 21st. Morgan Stanley raised their price objective on Resideo Technologies from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Finally, Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a report on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Resideo Technologies currently has a consensus rating of “Hold” and an average price target of $49.00.

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.