Man Group plc Takes $4.04 Million Position in Resideo Technologies, Inc. $REZI

Man Group plc acquired a new stake in Resideo Technologies, Inc. (NYSE:REZI) in the second quarter, Holdings Channel.com reports. The fund acquired 129,953 shares of the company’s stock, valued at approximately $4,042,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada lifted its stake in Resideo Technologies by 50.0% during the 1st quarter. Royal Bank of Canada now owns 49,395 shares of the company’s stock worth $873,000 after acquiring an additional 16,467 shares in the last quarter. AQR Capital Management LLC grew its position in Resideo Technologies by 58.9% in the 1st quarter. AQR Capital Management LLC now owns 122,734 shares of the company’s stock valued at $2,172,000 after acquiring an additional 45,517 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Resideo Technologies by 7.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,161 shares of the company’s stock valued at $2,233,000 after acquiring an additional 9,106 shares in the last quarter. Millennium Management LLC increased its stake in Resideo Technologies by 1,123.6% during the first quarter. Millennium Management LLC now owns 263,821 shares of the company’s stock worth $4,670,000 after purchasing an additional 242,260 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Resideo Technologies by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company’s stock worth $7,773,000 after purchasing an additional 26,254 shares during the period. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Price Performance

Resideo Technologies stock opened at $19.65 on Monday. The stock has a market cap of $2.98 billion, a P/E ratio of 8.69 and a beta of 1.63. The company has a fifty day simple moving average of $29.21 and a 200-day simple moving average of $32.88. Resideo Technologies, Inc. has a 12-month low of $18.96 and a 12-month high of $45.29. 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 EPS for the quarter, beating the consensus estimate of $0.47 by $0.36. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The firm 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 company posted $0.66 earnings per share. Resideo Technologies’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts expect that Resideo Technologies, Inc. will post 2.5 EPS for the current fiscal year.

Insider Transactions at Resideo Technologies

In other Resideo Technologies news, SVP Joshua Peter Foster bought 15,317 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $20.58 per share, with a total value of $315,223.86. Following the transaction, the senior vice president owned 183,509 shares of the company’s stock, valued at approximately $3,776,615.22. The trade was a 9.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Amit Ashvin Mehta bought 10,928 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average price of $20.68 per share, with a total value of $225,991.04. Following the purchase, the senior vice president owned 57,362 shares of the company’s stock, valued at $1,186,246.16. The trade was a 23.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 41,245 shares of company stock valued at $848,115. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on REZI. Seaport Research Partners assumed coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They set a “neutral” rating and a $30.00 target price on the stock. Morgan Stanley reduced their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $41.00.

About Resideo Technologies

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.