Miller Value Partners LLC Acquires Shares of 68,931 Resideo Technologies, Inc. $REZI

Miller Value Partners LLC acquired a new stake in Resideo Technologies, Inc. (NYSE:REZI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 68,931 shares of the company’s stock, valued at approximately $2,144,000.

A number of other hedge funds also recently modified their holdings of REZI. Smartleaf Asset Management LLC lifted its position in Resideo Technologies by 10.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,126 shares of the company’s stock worth $111,000 after acquiring an additional 306 shares during the last quarter. Vise Technologies Inc. grew its position in shares of Resideo Technologies by 2.4% in the fourth quarter. Vise Technologies Inc. now owns 13,670 shares of the company’s stock valued at $480,000 after purchasing an additional 315 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Resideo Technologies by 36.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,268 shares of the company’s stock worth $45,000 after purchasing an additional 342 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Resideo Technologies by 6.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,929 shares of the company’s stock worth $208,000 after purchasing an additional 347 shares during the period. Finally, Sage Rhino Capital LLC lifted its holdings in Resideo Technologies by 6.6% during the 4th quarter. Sage Rhino Capital LLC now owns 6,589 shares of the company’s stock worth $231,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

Insider Buying and Selling at Resideo Technologies

In other news, CEO Thomas A. Surran bought 15,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the transaction, the chief executive officer owned 338,573 shares of the company’s stock, valued at $6,927,203.58. This represents a 4.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joshua Peter Foster purchased 15,317 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $20.58 per share, with a total value of $315,223.86. Following the acquisition, the senior vice president owned 183,509 shares in the company, valued at $3,776,615.22. This trade represents a 9.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 41,245 shares of company stock valued at $848,115 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Resideo Technologies Stock Performance

REZI opened at $19.91 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. Resideo Technologies, Inc. has a 52-week low of $18.96 and a 52-week high of $45.29. The firm has a market cap of $3.02 billion, a P/E ratio of 8.81 and a beta of 1.63. The business’s fifty day moving average is $29.90 and its 200-day moving average is $33.21.

Resideo Technologies (NYSE:REZI) last posted its quarterly 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. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Resideo Technologies’s revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts expect that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on REZI. Morgan Stanley lowered their price objective 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. JPMorgan Chase & Co. began coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They set a “neutral” rating and a $30.00 price target on the stock. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research note 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. Finally, Weiss Ratings raised shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Two investment 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.com, Resideo Technologies has an average rating of “Hold” and a consensus target price 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.