Resideo Technologies (NYSE:REZI) Sets New 1-Year High – Here’s Why

Resideo Technologies, Inc. (NYSE:REZI) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.29 and last traded at $26.21, with a volume of 2678 shares trading hands. The stock had previously closed at $26.12.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI initiated coverage on Resideo Technologies in a report on Friday, August 9th. They set an “outperform” rating and a $25.00 price target for the company.

Resideo Technologies Stock Performance

The business has a fifty day simple moving average of $21.05 and a two-hundred day simple moving average of $20.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.82 and a quick ratio of 1.10. The company has a market cap of $3.88 billion, a PE ratio of 23.78 and a beta of 2.09.

Institutional Investors Weigh In On Resideo Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REZI. State Board of Administration of Florida Retirement System grew its stake in shares of Resideo Technologies by 29.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 54,194 shares of the company’s stock worth $1,215,000 after acquiring an additional 12,370 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Resideo Technologies by 17.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,490 shares of the company’s stock worth $496,000 after acquiring an additional 3,336 shares during the period. UniSuper Management Pty Ltd acquired a new position in Resideo Technologies during the first quarter worth about $694,000. CANADA LIFE ASSURANCE Co grew its position in shares of Resideo Technologies by 5.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 205,720 shares of the company’s stock valued at $4,609,000 after purchasing an additional 10,070 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Resideo Technologies in the first quarter valued at approximately $1,682,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Resideo Technologies Company 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.