The Manufacturers Life Insurance Company Acquires Shares of 75,021 Resideo Technologies, Inc. $REZI

The Manufacturers Life Insurance Company acquired a new stake in shares of Resideo Technologies, Inc. (NYSE:REZI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 75,021 shares of the company’s stock, valued at approximately $2,333,000.

Several other institutional investors and hedge funds have also modified their holdings of REZI. BlackRock Inc. purchased a new stake in shares of Resideo Technologies in the second quarter worth about $673,214,000. Franklin Resources Inc. lifted 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 acquiring an additional 1,756,131 shares during the period. Clayton Dubilier & Rice LLC boosted its position in Resideo Technologies by 12.7% in the 4th quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company’s stock worth $525,962,000 after purchasing an additional 1,689,758 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Resideo Technologies during the 2nd quarter worth approximately $52,458,000. Finally, Sachem Head Capital Management LP acquired a new stake in shares of Resideo Technologies during the 4th quarter worth approximately $57,070,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Trading Up 0.5%

Shares of REZI stock opened at $19.33 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 8.55 and a beta of 1.60. The stock has a 50 day simple moving average of $28.49 and a 200-day simple moving average of $32.53. Resideo Technologies, Inc. has a 1-year low of $18.86 and a 1-year high of $45.29.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.66 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Resideo Technologies, Inc. will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Amit Ashvin Mehta bought 10,928 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were acquired at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the completion of the transaction, the senior vice president directly owned 57,362 shares in the company, valued at $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas A. Surran bought 15,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were bought 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 represents a 4.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 41,245 shares of company stock worth $848,115. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

REZI has been the subject of several analyst reports. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research note on Wednesday, July 1st. They issued a “buy” rating and a $55.00 target price for the company. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Morgan Stanley cut their price objective on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Zacks Research downgraded shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. initiated 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. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.00.

Resideo Technologies Company 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.