Prescott Group Capital Management L.L.C. Buys New Stake in Resideo Technologies, Inc. $REZI

Prescott Group Capital Management L.L.C. purchased a new position in shares of Resideo Technologies, Inc. (NYSE:REZI) during the third quarter, Holdings Channel.com reports. The fund purchased 73,044 shares of the company’s stock, valued at approximately $1,326,000.

Several other hedge funds have also made changes to their positions in REZI. Ancora Advisors LLC acquired a new position in Resideo Technologies during the 2nd quarter valued at approximately $13,546,000. J. Goldman & Co LP acquired a new stake in Resideo Technologies in the second quarter worth $17,983,000. Bank of America Corp DE acquired a new stake in Resideo Technologies in the second quarter worth $32,325,000. Hsbc Holdings PLC increased 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 buying an additional 44,135 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Resideo Technologies in the first quarter valued at $1,497,000. Institutional investors own 91.71% of the company’s stock.

Insider Activity at Resideo Technologies

In related news, CEO Thomas A. Surran acquired 15,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the completion of the acquisition, the chief executive officer directly owned 338,573 shares of the company’s stock, valued at approximately $6,927,203.58. The trade was a 4.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Amit Mehta acquired 10,928 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the purchase, the senior vice president directly owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 41,245 shares of company stock worth $848,115 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

REZI has been the subject of several analyst reports. Morgan Stanley reduced 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. Evercore started coverage on shares of Resideo Technologies in a report on Monday, September 28th. They issued an “outperform” rating and a $30.00 price objective on the stock. Citigroup initiated coverage on shares of Resideo Technologies in a research report on Monday, October 19th. They issued a “market outperform” rating on the stock. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Resideo Technologies in a research report on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price for the company. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.75.

Resideo Technologies Trading Up 0.2%

Shares of REZI stock opened at $19.29 on Wednesday. Resideo Technologies, Inc. has a 1 year low of $15.90 and a 1 year high of $42.95. The firm has a market capitalization of $2.93 billion, a PE ratio of 8.53 and a beta of 1.58. The stock has a fifty day moving average of $18.41 and a two-hundred day moving average of $29.77. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.36. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, research analysts expect that Resideo Technologies, Inc. will post 2.16 EPS for the current year.

About Resideo Technologies

Resideo Technologies, Inc (NYSE: REZI) is a provider of products and services for residential and commercial comfort, security, and energy management. The company develops and supplies thermostats, heating and cooling controls, indoor air quality products, water-management solutions, security systems, and other connected home technologies. Its offerings are marketed under Resideo and other established brands, including Honeywell Home, through professional contractors, distributors, retailers, and other channels.

Resideo also operates ADI Global Distribution, a wholesale distributor of security, fire, low-voltage, and smart-home products.