Amit Ashvin Mehta Purchases 10,928 Shares of Resideo Technologies (NYSE:REZI) Stock

Resideo Technologies, Inc. (NYSE:REZI) SVP Amit Ashvin Mehta bought 10,928 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was purchased at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the transaction, the senior vice president owned 57,362 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink.

Resideo Technologies Stock Up 2.4%

NYSE REZI opened at $21.52 on Thursday. The business has a fifty day moving average price of $30.84 and a 200 day moving average price of $33.65. 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 company has a market cap of $3.27 billion, a P/E ratio of 9.52 and a beta of 1.63. Resideo Technologies, Inc. has a one year low of $20.10 and a one year high of $45.29.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Research analysts anticipate that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.

Institutional Trading of Resideo Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Danske Bank A S lifted its stake in Resideo Technologies by 600.0% during the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock worth $25,000 after purchasing an additional 600 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Resideo Technologies by 283.8% in the third quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock valued at $25,000 after buying an additional 420 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Resideo Technologies in the second quarter valued at $28,000. McMillan Office Inc. purchased a new stake in shares of Resideo Technologies in the 4th quarter valued at $33,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Resideo Technologies in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on REZI shares. JPMorgan Chase & Co. initiated coverage on Resideo Technologies in a report on Friday, August 7th. They set a “neutral” rating and a $30.00 target price on the stock. Morgan Stanley cut their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, July 13th. 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 objective on the stock. Zacks Research lowered Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.00.

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.