Resideo Technologies, Inc. $REZI Stock: Pzena Investment Management LLC Increases Holdings

Pzena Investment Management LLC increased its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI) by 119.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,699,890 shares of the company’s stock after buying an additional 2,013,125 shares during the quarter. Pzena Investment Management LLC owned 2.44% of Resideo Technologies worth $67,153,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Resideo Technologies in the third quarter valued at about $1,326,000. Choreo LLC boosted its holdings in Resideo Technologies by 58.4% in the third quarter. Choreo LLC now owns 20,722 shares of the company’s stock valued at $376,000 after acquiring an additional 7,644 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Resideo Technologies by 27.0% in the third quarter. Sterling Capital Management LLC now owns 3,015 shares of the company’s stock valued at $55,000 after acquiring an additional 641 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Resideo Technologies by 24.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 19,263 shares of the company’s stock valued at $350,000 after purchasing an additional 3,799 shares during the period. Finally, SummerHaven Investment Management LLC acquired a new stake in Resideo Technologies during the 3rd quarter valued at approximately $809,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Resideo Technologies Stock Up 6.8%

Resideo Technologies stock opened at $20.54 on Thursday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 9.09 and a beta of 1.58. The firm’s fifty day moving average price is $18.42 and its two-hundred day moving average price is $29.68. Resideo Technologies, Inc. has a 1-year low of $15.90 and a 1-year high of $42.95. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZI) last posted its 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. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that Resideo Technologies, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on REZI. Zacks Research upgraded shares of Resideo Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Citizens Jmp started coverage on shares of Resideo Technologies in a research report on Monday, October 19th. They set a “market outperform” rating and a $22.00 price objective for the company. Citigroup started coverage on shares of Resideo Technologies in a research note on Monday, October 19th. They set a “market outperform” rating for the company. Morgan Stanley lowered their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.75.

Insider Activity

In related news, SVP Joshua Foster purchased 15,317 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the completion of the acquisition, the senior vice president owned 183,509 shares of the company’s stock, valued at $3,776,615.22. This represents a 9.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Surran acquired 15,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were purchased 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 in the company, valued at approximately $6,927,203.58. The trade was a 4.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 41,245 shares of company stock worth $848,115 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Resideo Technologies Profile

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.