Man Group plc Makes New Investment in Resideo Technologies, Inc. $REZI

Man Group plc acquired a new stake in shares of Resideo Technologies, Inc. (NYSE:REZI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 129,953 shares of the company’s stock, valued at approximately $4,042,000. Man Group plc owned approximately 0.09% of Resideo Technologies as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Danske Bank A S raised its position in shares of Resideo Technologies by 600.0% during the 4th quarter. Danske Bank A S now owns 700 shares of the company’s stock worth $25,000 after purchasing an additional 600 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Resideo Technologies by 283.8% in the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after buying an additional 420 shares during the last quarter. Allworth Financial LP acquired a new stake in Resideo Technologies in the 2nd quarter worth about $28,000. McMillan Office Inc. purchased a new stake in Resideo Technologies during the 4th quarter worth approximately $33,000. Finally, Kestra Advisory Services LLC purchased a new stake in Resideo Technologies during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Trading Up 0.1%

Shares of Resideo Technologies stock opened at $19.65 on Monday. The stock has a 50 day moving average of $29.21 and a 200 day moving average of $32.88. 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 $2.98 billion, a price-to-earnings ratio of 8.69 and a beta of 1.63. Resideo Technologies, Inc. has a fifty-two week low of $18.96 and a fifty-two week high of $45.29.

Resideo Technologies (NYSE:REZI) last posted its earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.36. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, research analysts predict that Resideo Technologies, Inc. will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on REZI shares. Zacks Research downgraded Resideo Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Seaport Research Partners initiated coverage on Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target for the company. Morgan Stanley reduced their price objective on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Finally, 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. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company 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 purchased 15,317 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired 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 directly owned 183,509 shares in the company, valued at approximately $3,776,615.22. The trade was a 9.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Amit Ashvin Mehta purchased 10,928 shares of the company’s stock in a transaction on Monday, August 17th. The shares were bought at an average price of $20.68 per share, with a total value of $225,991.04. Following the completion of the transaction, the senior vice president owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. The trade was a 23.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 41,245 shares of company stock valued at $848,115 over the last 90 days. 1.60% of the stock is owned by insiders.

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.