Paralel Advisors LLC Invests $2.13 Million in Resideo Technologies, Inc. $REZI

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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Resideo Technologies by 50.0% in the first quarter. Royal Bank of Canada now owns 49,395 shares of the company’s stock valued at $873,000 after acquiring an additional 16,467 shares during the period. AQR Capital Management LLC increased its holdings in shares of 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 acquiring an additional 45,517 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 worth $2,233,000 after purchasing an additional 9,106 shares during the period. Millennium Management LLC raised its position in shares of Resideo Technologies by 1,123.6% during the first quarter. Millennium Management LLC now owns 263,821 shares of the company’s stock worth $4,670,000 after purchasing an additional 242,260 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Resideo Technologies by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company’s stock worth $7,773,000 after purchasing an additional 26,254 shares in the last quarter. 91.71% of the stock is owned by institutional investors.

Insider Activity at Resideo Technologies

In related news, SVP Amit Mehta purchased 10,928 shares of Resideo Technologies stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the completion of the transaction, the senior vice president owned 57,362 shares in the company, valued at $1,186,246.16. This represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Surran acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $20.46 per share, with a total value of $306,900.00. Following the acquisition, the chief executive officer directly 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 41,245 shares of company stock worth $848,115. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Seaport Research Partners began 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. Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a report on Friday, August 7th. They set a “neutral” rating and a $30.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Finally, Morgan Stanley decreased 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 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $41.00.

Resideo Technologies Stock Performance

Shares of Resideo Technologies stock opened at $19.87 on Monday. The business’s fifty day simple moving average is $28.02 and its 200 day simple moving average is $32.30. 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, Inc. has a 12 month low of $18.86 and a 12 month high of $45.29. The firm has a market capitalization of $3.02 billion, a P/E ratio of 8.79 and a beta of 1.60.

Resideo Technologies (NYSE:REZI) last announced 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 return on equity of 17.79% and a net margin of 5.37%.The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts anticipate that Resideo Technologies, Inc. will post 2.5 EPS for the current year.

Resideo Technologies Company 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.