Resideo Technologies (NYSE:REZI) CEO Purchases $306,900.00 in Stock

Resideo Technologies, Inc. (NYSE:REZI) CEO Thomas Surran acquired 15,000 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $20.46 per share, for a total transaction of $306,900.00. Following the purchase, the chief executive officer owned 338,573 shares of the company’s stock, valued at $6,927,203.58. The trade was a 4.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Resideo Technologies Trading Up 2.4%

Shares of REZI stock opened at $21.52 on Thursday. The firm has a market capitalization of $3.27 billion, a P/E ratio of 9.52 and a beta of 1.63. Resideo Technologies, Inc. has a 1 year low of $20.10 and a 1 year high of $45.29. The firm’s fifty day simple moving average is $30.84 and its 200 day simple moving average is $33.65. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZI) last issued 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 during the quarter, compared to the consensus estimate of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. As a group, sell-side analysts predict that Resideo Technologies, Inc. will post 2.81 EPS for the current year.

Institutional Trading of Resideo Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Resideo Technologies in the second quarter worth about $673,214,000. Franklin Resources Inc. boosted its holdings in Resideo Technologies by 1,325.0% during the third quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company’s stock valued at $81,553,000 after purchasing an additional 1,756,131 shares in the last quarter. Clayton Dubilier & Rice LLC boosted its holdings in 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 in the last quarter. Pzena Investment Management LLC bought a new stake in shares of Resideo Technologies in the 2nd quarter valued at approximately $52,458,000. Finally, Sachem Head Capital Management LP bought a new stake in shares of Resideo Technologies in the 4th quarter valued at approximately $57,070,000. Institutional investors own 91.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley decreased their target price on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Seaport Research Partners started coverage on Resideo Technologies in a research report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price objective for the company. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Zacks Research lowered Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Finally, Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Two research 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.