Resideo Technologies, Inc. (NYSE:REZI) is Beaconlight Capital LLC’s Largest Position

Beaconlight Capital LLC grew its stake in shares of Resideo Technologies, Inc. (NYSE:REZI) by 64.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,088,926 shares of the company’s stock after acquiring an additional 428,669 shares during the quarter. Resideo Technologies comprises approximately 8.9% of Beaconlight Capital LLC’s investment portfolio, making the stock its largest holding. Beaconlight Capital LLC’s holdings in Resideo Technologies were worth $21,931,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Resideo Technologies by 22.7% during the third quarter. FMR LLC now owns 165,001 shares of the company’s stock valued at $3,323,000 after acquiring an additional 30,538 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in Resideo Technologies by 32.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 87,112 shares of the company’s stock worth $1,754,000 after buying an additional 21,266 shares during the period. Algert Global LLC increased its holdings in Resideo Technologies by 15.3% in the 3rd quarter. Algert Global LLC now owns 163,750 shares of the company’s stock worth $3,298,000 after buying an additional 21,770 shares during the period. Citigroup Inc. increased its holdings in Resideo Technologies by 47.5% in the 3rd quarter. Citigroup Inc. now owns 197,142 shares of the company’s stock worth $3,970,000 after buying an additional 63,501 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Resideo Technologies by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,545,865 shares of the company’s stock worth $31,134,000 after buying an additional 54,508 shares during the period. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Stock Performance

Resideo Technologies stock traded up $0.22 during mid-day trading on Wednesday, hitting $27.54. The company had a trading volume of 12,649 shares, compared to its average volume of 873,280. The company has a current ratio of 1.82, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Resideo Technologies, Inc. has a 12-month low of $16.16 and a 12-month high of $28.28. The company’s fifty day moving average is $21.71 and its 200-day moving average is $20.72. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 24.81 and a beta of 2.09.

Wall Street Analyst Weigh In

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

Insider Activity

In other Resideo Technologies news, insider Robert B. Aarnes sold 98,829 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.16, for a total value of $2,585,366.64. Following the transaction, the insider now owns 458,928 shares in the company, valued at approximately $12,005,556.48. This trade represents a 17.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

About Resideo Technologies

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.