Steamboat Capital Partners LLC Lowers Holdings in Resideo Technologies, Inc. $REZI

Steamboat Capital Partners LLC reduced its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI) by 12.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218,198 shares of the company’s stock after selling 30,523 shares during the period. Steamboat Capital Partners LLC owned about 0.14% of Resideo Technologies worth $6,786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in REZI. BlackRock Inc. purchased a new stake in shares of Resideo Technologies in the 2nd quarter valued at approximately $673,214,000. California State Teachers Retirement System grew its stake in shares of Resideo Technologies by 3,036.4% during the second quarter. California State Teachers Retirement System now owns 4,879,839 shares of the company’s stock worth $156,908,000 after purchasing an additional 4,724,252 shares in the last quarter. Franklin Resources Inc. increased its holdings in Resideo Technologies by 1,325.0% in the third quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company’s stock valued at $81,553,000 after buying an additional 1,756,131 shares during the last quarter. Clayton Dubilier & Rice LLC increased its holdings in Resideo Technologies by 12.7% in the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company’s stock valued at $525,962,000 after buying an additional 1,689,758 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in Resideo Technologies in the second quarter valued at $52,458,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Stock Down 1.2%

REZI stock opened at $19.63 on Wednesday. The company has a fifty day moving average price of $27.58 and a 200 day moving average price of $32.06. Resideo Technologies, Inc. has a 12 month low of $18.86 and a 12 month high of $45.29. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 8.69 and a beta of 1.60. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.36. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Sell-side analysts expect that Resideo Technologies, Inc. will post 2.5 earnings per share for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO Thomas A. Surran acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $20.46 per share, with a total value of $306,900.00. Following the purchase, the chief executive officer directly owned 338,573 shares of the company’s stock, valued at approximately $6,927,203.58. This trade represents a 4.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Amit Mehta purchased 10,928 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were purchased at an average cost of $20.68 per share, with a total value of $225,991.04. Following the purchase, the senior vice president directly owned 57,362 shares in the company, valued at approximately $1,186,246.16. The trade was a 23.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 41,245 shares of company stock worth $848,115. 1.60% of the stock is owned by corporate insiders.

Resideo Technologies Profile

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.