Resideo Technologies, Inc. $REZI Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in Resideo Technologies, Inc. (NYSE:REZI) by 10.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 660,948 shares of the company’s stock after selling 75,395 shares during the quarter. Principal Financial Group Inc. owned approximately 0.44% of Resideo Technologies worth $28,540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ORG Partners LLC boosted its position in Resideo Technologies by 588.2% in the 3rd quarter. ORG Partners LLC now owns 585 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Resideo Technologies by 1,778.8% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 620 shares of the company’s stock valued at $27,000 after purchasing an additional 587 shares during the period. Salomon & Ludwin LLC boosted its holdings in Resideo Technologies by 3,591.2% during the third quarter. Salomon & Ludwin LLC now owns 1,255 shares of the company’s stock worth $54,000 after buying an additional 1,221 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Resideo Technologies during the second quarter valued at $34,000. Finally, IFP Advisors Inc grew its position in Resideo Technologies by 37.6% during the second quarter. IFP Advisors Inc now owns 3,341 shares of the company’s stock valued at $81,000 after buying an additional 913 shares during the period. 91.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R bought 566,758 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average price of $31.82 per share, with a total value of $18,034,239.56. Following the completion of the acquisition, the insider directly owned 14,960,492 shares of the company’s stock, valued at $476,042,855.44. This represents a 3.94% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew C. Teich purchased 8,149 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $30.68 per share, for a total transaction of $250,011.32. Following the completion of the purchase, the director owned 340,621 shares of the company’s stock, valued at approximately $10,450,252.28. This represents a 2.45% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 1,697,907 shares of company stock valued at $53,222,621 over the last quarter. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on REZI shares. Zacks Research lowered shares of Resideo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Resideo Technologies in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded Resideo Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.67.

Resideo Technologies Stock Up 4.6%

REZI stock opened at $36.38 on Friday. The stock has a market capitalization of $5.45 billion, a P/E ratio of -7.77 and a beta of 1.73. The firm has a 50-day simple moving average of $35.59 and a 200-day simple moving average of $35.49. The company has a quick ratio of 1.07, a current ratio of 1.88 and a debt-to-equity ratio of 1.38. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $45.29.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.18. Resideo Technologies had a positive return on equity of 14.96% and a negative net margin of 8.85%.The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the firm posted $0.58 EPS. Resideo Technologies’s revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

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.