Resideo Technologies, Inc. $REZI Stock Bought by Pzena Investment Management LLC

Pzena Investment Management LLC boosted its position in Resideo Technologies, Inc. (NYSE:REZI) by 119.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,699,890 shares of the company’s stock after purchasing an additional 2,013,125 shares during the period. Pzena Investment Management LLC’s holdings in Resideo Technologies were worth $67,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in REZI. BlackRock Inc. purchased a new position in shares of Resideo Technologies during the 2nd quarter valued at $673,214,000. Bank of America Corp DE bought a new stake in Resideo Technologies in the 2nd quarter valued at about $32,325,000. Bank of New York Mellon Corp purchased a new position in shares of Resideo Technologies in the second quarter worth about $28,117,000. J. Goldman & Co LP purchased a new stake in shares of Resideo Technologies during the 2nd quarter valued at approximately $17,983,000. Finally, Ancora Advisors LLC bought a new stake in Resideo Technologies during the 2nd quarter valued at $13,546,000. 91.71% of the stock is currently owned by institutional investors.

Resideo Technologies Stock Performance

NYSE REZI opened at $20.54 on Thursday. Resideo Technologies, Inc. has a 52-week low of $15.90 and a 52-week high of $42.95. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. The company has a market capitalization of $3.12 billion, a P/E ratio of 9.09 and a beta of 1.58. The company has a fifty day moving average of $18.42 and a 200-day moving average of $29.68.

Resideo Technologies (NYSE:REZI) last issued its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Resideo Technologies’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities research analysts predict that Resideo Technologies, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on REZI. JPMorgan Chase & Co. initiated coverage on Resideo Technologies in a research note on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price for the company. 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 research report on Monday, July 13th. Citizens Jmp started coverage on shares of Resideo Technologies in a research note on Monday, October 19th. They set a “market outperform” rating and a $22.00 price objective for the company. Citigroup began coverage on shares of Resideo Technologies in a report on Monday, October 19th. They set a “market outperform” rating on the stock. Finally, Evercore assumed coverage on shares of Resideo Technologies in a report on Monday, September 28th. They set an “outperform” rating and a $30.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.75.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, SVP Joshua Foster acquired 15,317 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the acquisition, the senior vice president owned 183,509 shares in the company, valued at $3,776,615.22. This represents a 9.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Amit Mehta acquired 10,928 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was 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 owned 57,362 shares in the company, valued at approximately $1,186,246.16. The trade was a 23.53% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 41,245 shares of company stock worth $848,115. 1.60% of the stock is currently owned by company insiders.

About Resideo Technologies

Resideo Technologies, Inc (NYSE: REZI) is a provider of products and services for residential and commercial comfort, security, and energy management. The company develops and supplies thermostats, heating and cooling controls, indoor air quality products, water-management solutions, security systems, and other connected home technologies. Its offerings are marketed under Resideo and other established brands, including Honeywell Home, through professional contractors, distributors, retailers, and other channels.

Resideo also operates ADI Global Distribution, a wholesale distributor of security, fire, low-voltage, and smart-home products.