Resideo Technologies, Inc. (NYSE:REZI – Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $18.96 and last traded at $19.9150, with a volume of 2315993 shares changing hands. The stock had previously closed at $19.28.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on REZI. Morgan Stanley lowered their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. JPMorgan Chase & Co. began coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price 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. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Finally, Seaport Research Partners started coverage on shares of Resideo Technologies in a report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target on the stock. 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.00.
Check Out Our Latest Research Report on REZI
Resideo Technologies Stock Up 3.3%
Resideo Technologies (NYSE:REZI – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.36. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. On average, equities analysts forecast that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.
Insider Buying and Selling
In related news, SVP Amit Ashvin Mehta acquired 10,928 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were purchased at an average cost of $20.68 per share, with a total value of $225,991.04. Following the completion of the acquisition, the senior vice president directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joshua Peter Foster purchased 15,317 shares of the company’s stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the purchase, the senior vice president owned 183,509 shares in the company, valued at approximately $3,776,615.22. The trade was a 9.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 41,245 shares of company stock worth $848,115 in the last ninety days. 1.60% of the stock is owned by insiders.
Institutional Trading of Resideo Technologies
Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Resideo Technologies in the second quarter worth $673,214,000. Clayton Dubilier & Rice LLC lifted its position 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 valued at $525,962,000 after purchasing an additional 1,689,758 shares during the period. Dimensional Fund Advisors LP lifted its position in Resideo Technologies by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock valued at $262,505,000 after purchasing an additional 64,613 shares during the period. California State Teachers Retirement System boosted its holdings in Resideo Technologies by 3,036.4% in the second quarter. California State Teachers Retirement System now owns 4,879,839 shares of the company’s stock valued at $156,908,000 after purchasing an additional 4,724,252 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Resideo Technologies by 51.4% in the fourth 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 last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.
About Resideo Technologies
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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