Resideo Technologies (NYSE:REZI) Sets New 52-Week High After Insider Buying Activity

Resideo Technologies, Inc. (NYSE:REZI) shares hit a new 52-week high on Thursday following insider buying activity. The stock traded as high as $34.97 and last traded at $34.91, with a volume of 328058 shares changing hands. The stock had previously closed at $33.83.

Specifically, major shareholder Channel Holdings Ii L.P. Cd&R purchased 228,573 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $33.63 per share, with a total value of $7,686,909.99. Following the acquisition, the insider directly owned 13,270,734 shares of the company’s stock, valued at approximately $446,294,784.42. This represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Channel Holdings Ii L.P. Cd&R purchased 180,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was purchased at an average cost of $33.55 per share, with a total value of $6,039,000.00. Following the acquisition, the insider directly owned 13,042,161 shares in the company, valued at $437,564,501.55. This trade represents a 1.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. In other Resideo Technologies news, Director Andrew C. Teich acquired 29,460 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was acquired at an average cost of $34.01 per share, for a total transaction of $1,001,934.60. Following the transaction, the director owned 332,472 shares of the company’s stock, valued at $11,307,372.72. This trade represents a 9.72% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

Several equities analysts recently issued reports on REZI shares. Morgan Stanley upgraded Resideo Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $24.00 to $35.00 in a research report on Tuesday, August 12th. Oppenheimer upgraded Resideo Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Resideo Technologies from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Resideo Technologies Trading Up 1.8%

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 1.00. The business has a 50-day simple moving average of $28.07 and a two-hundred day simple moving average of $21.98. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of -6.55 and a beta of 2.24.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.12. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. The business’s revenue was up 22.3% on a year-over-year basis. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. As a group, research analysts forecast that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Hedge Funds Weigh In On Resideo Technologies

A number of large investors have recently bought and sold shares of the company. Amalgamated Bank boosted its position in Resideo Technologies by 1.0% during the 2nd quarter. Amalgamated Bank now owns 42,164 shares of the company’s stock worth $930,000 after acquiring an additional 415 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Resideo Technologies by 4.3% during the 2nd quarter. QRG Capital Management Inc. now owns 10,565 shares of the company’s stock worth $233,000 after purchasing an additional 437 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Resideo Technologies by 2.5% during the 1st quarter. Hsbc Holdings PLC now owns 23,372 shares of the company’s stock worth $412,000 after purchasing an additional 578 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Resideo Technologies by 0.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 162,259 shares of the company’s stock worth $3,579,000 after purchasing an additional 625 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in shares of Resideo Technologies by 1.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 43,643 shares of the company’s stock worth $963,000 after purchasing an additional 742 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

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.