Connor Clark & Lunn Investment Management Ltd. Purchases 84,550 Shares of Resideo Technologies, Inc. $REZI

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Resideo Technologies, Inc. (NYSE:REZI) by 48.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 257,294 shares of the company’s stock after buying an additional 84,550 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Resideo Technologies were worth $5,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Resideo Technologies by 20,133.3% during the 1st quarter. IFP Advisors Inc now owns 2,428 shares of the company’s stock worth $43,000 after purchasing an additional 2,416 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Resideo Technologies during the first quarter worth approximately $65,000. GAMMA Investing LLC increased its position in Resideo Technologies by 74.5% during the second quarter. GAMMA Investing LLC now owns 5,393 shares of the company’s stock worth $119,000 after buying an additional 2,302 shares during the last quarter. Blue Trust Inc. raised its stake in Resideo Technologies by 113.0% in the second quarter. Blue Trust Inc. now owns 6,101 shares of the company’s stock valued at $135,000 after buying an additional 3,237 shares during the period. Finally, CWM LLC lifted its position in shares of Resideo Technologies by 132.7% in the second quarter. CWM LLC now owns 6,963 shares of the company’s stock valued at $154,000 after buying an additional 3,971 shares during the last quarter. Institutional investors own 91.71% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Channel Holdings Ii L.P. Cd&R acquired 566,758 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $31.82 per share, for a total transaction of $18,034,239.56. Following the purchase, the insider directly owned 14,960,492 shares in the company, valued at approximately $476,042,855.44. The trade was a 3.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andrew C. Teich acquired 8,149 shares of the company’s stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $30.68 per share, with a total value of $250,011.32. Following the completion of the acquisition, the director directly owned 340,621 shares in the company, valued at approximately $10,450,252.28. This represents a 2.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 2,976,534 shares of company stock valued at $94,962,387 over the last 90 days. 1.50% of the stock is owned by corporate insiders.

Resideo Technologies Price Performance

NYSE:REZI opened at $31.07 on Friday. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $45.29. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.07 and a current ratio of 1.88. The firm’s 50-day simple moving average is $39.98 and its 200 day simple moving average is $29.73. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of -6.64 and a beta of 2.22.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.18. Resideo Technologies had a negative net margin of 8.85% and a positive return on equity of 14.96%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Resideo Technologies has set its FY 2025 guidance at 2.570-2.670 EPS. Q4 2025 guidance at 0.420-0.520 EPS. As a group, sell-side analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

REZI has been the topic of a number of recent analyst reports. Oppenheimer boosted their target price on Resideo Technologies from $35.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Morgan Stanley upgraded shares of Resideo Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $24.00 to $35.00 in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Resideo Technologies in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Resideo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Wall Street Zen cut shares of Resideo Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Resideo Technologies currently has an average rating of “Hold” and an average price target of $34.67.

Resideo Technologies Profile

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.