Insider Buying: Resideo Technologies, Inc. (NYSE:REZI) Major Shareholder Buys $100,013,227.38 in Stock

Resideo Technologies, Inc. (NYSE:REZI) major shareholder Channel Holdings Ii L.P. Cd&R purchased 5,754,501 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $17.38 per share, for a total transaction of $100,013,227.38. Following the transaction, the insider now owns 5,754,501 shares of the company’s stock, valued at approximately $100,013,227.38. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Resideo Technologies Trading Down 1.2%

NYSE:REZI opened at $19.80 on Monday. Resideo Technologies, Inc. has a 12 month low of $14.18 and a 12 month high of $28.28. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 31.43 and a beta of 2.23. The company has a quick ratio of 1.10, a current ratio of 1.82 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $17.05 and its 200-day moving average is $21.12.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). Resideo Technologies had a return on equity of 11.12% and a net margin of 1.69%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Equities analysts anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Hedge Funds Weigh In On Resideo Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in Resideo Technologies during the fourth quarter worth $28,000. R Squared Ltd bought a new position in Resideo Technologies during the fourth quarter worth $30,000. IFP Advisors Inc increased its position in Resideo Technologies by 20,133.3% during the first quarter. IFP Advisors Inc now owns 2,428 shares of the company’s stock worth $43,000 after acquiring an additional 2,416 shares during the period. Versant Capital Management Inc increased its position in Resideo Technologies by 52.1% during the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company’s stock worth $56,000 after acquiring an additional 1,087 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Resideo Technologies by 293.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,600 shares of the company’s stock worth $60,000 after acquiring an additional 1,939 shares during the period. Institutional investors own 91.71% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered shares of Resideo Technologies from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $31.00 to $16.00 in a research report on Tuesday, April 22nd.

About Resideo Technologies

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.