Summit Global Investments Invests $223,000 in Resideo Technologies, Inc. (NYSE:REZI)

Summit Global Investments bought a new stake in Resideo Technologies, Inc. (NYSE:REZI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,397 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Resideo Technologies by 100.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 22,579 shares of the company’s stock valued at $442,000 after purchasing an additional 11,297 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in Resideo Technologies by 10.1% during the second quarter. Linden Thomas Advisory Services LLC now owns 20,961 shares of the company’s stock valued at $410,000 after purchasing an additional 1,920 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Resideo Technologies by 57.6% in the second quarter. Harbor Capital Advisors Inc. now owns 71,099 shares of the company’s stock worth $1,391,000 after buying an additional 25,980 shares during the last quarter. GAMMA Investing LLC lifted its position in Resideo Technologies by 50.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,592 shares of the company’s stock worth $31,000 after acquiring an additional 531 shares during the last quarter. Finally, Boston Partners boosted its holdings in Resideo Technologies by 3.0% during the first quarter. Boston Partners now owns 6,700,564 shares of the company’s stock valued at $150,177,000 after acquiring an additional 193,351 shares during the period. 91.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Evercore ISI started coverage on Resideo Technologies in a research note on Friday, August 9th. They issued an “outperform” rating and a $25.00 price objective on the stock.

Resideo Technologies Stock Performance

Shares of REZI traded up $0.65 during mid-day trading on Wednesday, hitting $19.31. The company’s stock had a trading volume of 311,707 shares, compared to its average volume of 842,653. Resideo Technologies, Inc. has a one year low of $14.19 and a one year high of $23.43. The stock’s 50-day moving average is $20.05 and its two-hundred day moving average is $20.76. The firm has a market capitalization of $2.82 billion, a PE ratio of 14.03 and a beta of 2.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.81.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.20. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.53 billion. Resideo Technologies had a net margin of 2.85% and a return on equity of 10.32%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. As a group, sell-side analysts anticipate that Resideo Technologies, Inc. will post 1.87 EPS for the current year.

Resideo Technologies Profile

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.