Key Points
- CEO Thomas Surran purchased 15,000 Resideo shares at an average price of $20.46, investing $306,900 and increasing his direct ownership by 4.64% to 338,573 shares.
- Resideo reported quarterly EPS of $0.83, beating the $0.47 analyst consensus, while revenue reached $1.98 billion and rose 2% year over year.
- Institutional investors own 91.71% of the company, while analysts maintain a mixed outlook: the stock has an average “Hold” rating and a consensus price target of $41.
Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) CEO Thomas Surran bought 15,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the transaction, the chief executive officer directly owned 338,573 shares of the company's stock, valued at $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Resideo Technologies Trading Up 1.2%
Shares of NYSE REZI opened at $20.75 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. Resideo Technologies, Inc. has a 12 month low of $20.10 and a 12 month high of $45.29. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 9.18 and a beta of 1.63. The business has a fifty day simple moving average of $31.21 and a 200-day simple moving average of $33.82.
Resideo Technologies (NYSE:REZI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.36. The firm had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.Resideo Technologies's revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. Sell-side analysts predict that Resideo Technologies, Inc. will post 2.81 EPS for the current year.
Institutional Investors Weigh In On Resideo Technologies
Several large investors have recently made changes to their positions in the company. Swedbank AB raised its position in Resideo Technologies by 121.5% during the fourth quarter. Swedbank AB now owns 2,346,919 shares of the company's stock valued at $82,424,000 after acquiring an additional 1,287,162 shares in the last quarter. Hsbc Holdings PLC grew its position in Resideo Technologies by 659.0% in the first quarter. Hsbc Holdings PLC now owns 50,832 shares of the company's stock worth $1,706,000 after acquiring an additional 44,135 shares in the last quarter. Quantinno Capital Management LP grew its position in Resideo Technologies by 122.1% in the first quarter. Quantinno Capital Management LP now owns 98,948 shares of the company's stock worth $3,336,000 after acquiring an additional 54,390 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Resideo Technologies during the 1st quarter worth $1,497,000. Finally, Bank of America Corp DE increased its stake in shares of Resideo Technologies by 8.4% during the 1st quarter. Bank of America Corp DE now owns 935,107 shares of the company's stock worth $31,522,000 after purchasing an additional 72,677 shares during the last quarter. Institutional investors own 91.71% of the company's stock.
Analyst Upgrades and Downgrades
REZI has been the topic of several analyst reports. Morgan Stanley dropped their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Oppenheimer restated an "outperform" rating on shares of Resideo Technologies in a research report on Thursday. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They issued a "neutral" rating and a $30.00 price objective for the company. Weiss Ratings upgraded shares of Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday. Finally, Seaport Research Partners started coverage on shares of Resideo Technologies in a research note on Wednesday, July 1st. They set a "buy" rating and a $55.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $41.00.
View Our Latest Analysis on REZI
About Resideo Technologies
(
Get Free Report)
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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