Hsbc Holdings PLC increased its stake in Resideo Technologies, Inc. (NYSE:REZI – Free Report) by 659.0% in the 1st quarter, HoldingsChannel reports. The fund owned 50,832 shares of the company’s stock after acquiring an additional 44,135 shares during the period. Hsbc Holdings PLC’s holdings in Resideo Technologies were worth $1,706,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in REZI. Clayton Dubilier & Rice LLC raised its holdings in Resideo Technologies by 12.7% during the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company’s stock worth $525,962,000 after purchasing an additional 1,689,758 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Resideo Technologies by 51.4% during the 4th quarter. Franklin Resources Inc. now owns 2,860,308 shares of the company’s stock valued at $100,454,000 after purchasing an additional 971,643 shares during the period. Swedbank AB increased its position in shares of Resideo Technologies by 13.6% during the 1st quarter. Swedbank AB now owns 2,665,123 shares of the company’s stock valued at $89,841,000 after purchasing an additional 318,204 shares during the period. Locust Wood Capital Advisers LLC raised its stake in shares of Resideo Technologies by 124.6% in the 4th quarter. Locust Wood Capital Advisers LLC now owns 2,649,691 shares of the company’s stock worth $93,057,000 after buying an additional 1,470,077 shares in the last quarter. Finally, Permian Investment Partners LP raised its stake in shares of Resideo Technologies by 156.2% in the 4th quarter. Permian Investment Partners LP now owns 2,474,500 shares of the company’s stock worth $86,904,000 after buying an additional 1,508,564 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.
Resideo Technologies Trading Up 0.1%
Resideo Technologies stock opened at $34.57 on Monday. Resideo Technologies, Inc. has a 12 month low of $24.15 and a 12 month high of $45.29. The company has a quick ratio of 1.19, a current ratio of 2.07 and a debt-to-equity ratio of 1.30. The stock has a market cap of $5.24 billion, a P/E ratio of -9.00 and a beta of 1.64. The company’s fifty day simple moving average is $31.68 and its 200-day simple moving average is $34.76.
Analyst Upgrades and Downgrades
REZI has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Resideo Technologies in a research note on Friday, July 17th. Zacks Research cut shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price target for the company. Finally, Morgan Stanley cut their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.50.
Check Out Our Latest Report on REZI
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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