Paralel Advisors LLC Makes New $2.13 Million Investment in Resideo Technologies, Inc. $REZI

Paralel Advisors LLC bought a new position in shares of Resideo Technologies, Inc. (NYSE:REZI) during the second quarter, Holdings Channel.com reports. The firm bought 68,421 shares of the company’s stock, valued at approximately $2,128,000.

Other hedge funds have also modified their holdings of the company. Danske Bank A S grew its stake in shares of Resideo Technologies by 600.0% during the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock valued at $25,000 after purchasing an additional 600 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Resideo Technologies by 283.8% during 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 in the last quarter. Allworth Financial LP acquired a new position in Resideo Technologies during the 2nd quarter worth $28,000. McMillan Office Inc. bought a new position in Resideo Technologies in the 4th quarter valued at $33,000. Finally, Kestra Advisory Services LLC bought a new position in Resideo Technologies in the 4th quarter valued at $34,000. 91.71% of the stock is owned by institutional investors.

Insider Transactions at Resideo Technologies

In other news, SVP Joshua Peter Foster acquired 15,317 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the transaction, the senior vice president directly owned 183,509 shares in the company, valued at approximately $3,776,615.22. This represents a 9.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Amit Ashvin Mehta acquired 10,928 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average cost of $20.68 per share, for a total transaction of $225,991.04. Following the purchase, the senior vice president directly owned 57,362 shares in the company, valued at $1,186,246.16. This trade represents a 23.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 41,245 shares of company stock valued at $848,115 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on REZI. Weiss Ratings raised Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Seaport Research Partners started coverage on Resideo Technologies in a research note on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target on the stock. 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 on the stock. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Finally, Morgan Stanley dropped their price objective on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.00.

Resideo Technologies Stock Performance

Shares of NYSE:REZI opened at $20.01 on Friday. The firm’s 50 day simple moving average is $30.61 and its 200 day simple moving average is $33.55. Resideo Technologies, Inc. has a fifty-two week low of $19.84 and a fifty-two week high of $45.29. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 8.85 and a beta of 1.63. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41.

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

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.