Legal & General Group Plc purchased a new position in shares of Resideo Technologies, Inc. (NYSE:REZI – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 334,460 shares of the company’s stock, valued at approximately $10,402,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Danske Bank A S raised its stake in Resideo Technologies by 600.0% in the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock valued at $25,000 after buying an additional 600 shares during the period. Larson Financial Group LLC boosted its stake in shares of Resideo Technologies by 283.8% during the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after acquiring an additional 420 shares during the period. Allworth Financial LP acquired a new position in shares of Resideo Technologies during the 2nd quarter worth approximately $28,000. McMillan Office Inc. acquired a new position in shares of Resideo Technologies during the 4th quarter worth approximately $33,000. Finally, Kestra Advisory Services LLC bought a new stake in Resideo Technologies in the 4th quarter valued at $34,000. Institutional investors own 91.71% of the company’s stock.
Resideo Technologies Price Performance
Shares of NYSE REZI opened at $19.31 on Tuesday. The firm has a market cap of $2.93 billion, a P/E ratio of 8.54 and a beta of 1.63. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. Resideo Technologies, Inc. has a 1-year low of $18.96 and a 1-year high of $45.29. The business’s 50 day moving average is $28.97 and its 200-day moving average is $32.76.
Wall Street Analyst Weigh In
Several brokerages have issued reports on REZI. Weiss Ratings raised Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. JPMorgan Chase & Co. initiated coverage on shares of Resideo Technologies in a report on Friday, August 7th. They issued a “neutral” rating and a $30.00 price objective on the stock. Seaport Research Partners started coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price objective on the stock. Morgan Stanley cut their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Two equities 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.00.
Check Out Our Latest Analysis on REZI
Insider Transactions at Resideo Technologies
In other news, SVP Amit Ashvin Mehta bought 10,928 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $20.68 per share, with a total value of $225,991.04. Following the completion of the acquisition, the senior vice president owned 57,362 shares of the company’s stock, valued at $1,186,246.16. This represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Joshua Peter Foster bought 15,317 shares of Resideo Technologies stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $20.58 per share, with a total value of $315,223.86. Following the transaction, the senior vice president owned 183,509 shares of the company’s stock, valued at $3,776,615.22. This trade represents a 9.11% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 41,245 shares of company stock valued at $848,115. 1.60% of the stock is currently owned by corporate insiders.
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.
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