Steamboat Capital Partners LLC Lowers Position in Resideo Technologies, Inc. $REZI

Steamboat Capital Partners LLC cut its stake in shares of Resideo Technologies, Inc. (NYSE:REZI) by 12.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 218,198 shares of the company’s stock after selling 30,523 shares during the quarter. Steamboat Capital Partners LLC’s holdings in Resideo Technologies were worth $6,786,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of 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 buying an additional 16,467 shares in the last quarter. AQR Capital Management LLC grew its position in Resideo Technologies by 58.9% in 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 stake 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 valued at $2,233,000 after purchasing an additional 9,106 shares during the period. Millennium Management LLC raised its stake 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 valued at $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 position in shares of Resideo Technologies by 6.4% during the first 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Resideo Technologies

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Weiss Ratings raised shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Morgan Stanley decreased their price objective on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Seaport Research Partners began coverage on Resideo Technologies in a research note on Wednesday, July 1st. They set a “buy” rating and a $55.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on Resideo Technologies in a research report on Friday, August 7th. They set a “neutral” rating and a $30.00 target price on the stock. Two 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. Based on data from MarketBeat.com, Resideo Technologies presently has a consensus rating of “Hold” and an average target price of $41.00.

Resideo Technologies Stock Down 1.2%

Shares of NYSE:REZI opened at $19.63 on Wednesday. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 8.69 and a beta of 1.60. Resideo Technologies, Inc. has a 1-year low of $18.86 and a 1-year high of $45.29. The company’s fifty day moving average is $27.58 and its two-hundred day moving average is $32.06. 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 (NYSE:REZI) last issued its 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 company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. Resideo Technologies’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts anticipate that Resideo Technologies, Inc. will post 2.5 EPS for the current year.

Resideo Technologies 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.