Quantbot Technologies LP Purchases New Position in Resideo Technologies, Inc. $REZI

Quantbot Technologies LP acquired a new position in Resideo Technologies, Inc. (NYSE:REZI) during the 3rd quarter, HoldingsChannel reports. The fund acquired 62,754 shares of the company’s stock, valued at approximately $2,710,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in REZI. Clayton Dubilier & Rice LLC increased its holdings in shares of Resideo Technologies by 130.3% during the 3rd quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company’s stock valued at $573,706,000 after purchasing an additional 7,516,233 shares in the last quarter. Geode Capital Management LLC grew its position in Resideo Technologies by 1.6% during the second quarter. Geode Capital Management LLC now owns 3,501,932 shares of the company’s stock valued at $77,261,000 after buying an additional 55,666 shares during the period. Prudential Financial Inc. grew its position in Resideo Technologies by 12.8% during the second quarter. Prudential Financial Inc. now owns 2,860,731 shares of the company’s stock valued at $63,108,000 after buying an additional 325,410 shares during the period. Norges Bank purchased a new position in Resideo Technologies in the second quarter valued at $40,374,000. Finally, Ophir Asset Management Pty Ltd acquired a new position in shares of Resideo Technologies in the second quarter worth about $35,419,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Stock Down 2.5%

REZI opened at $37.35 on Wednesday. The company has a market cap of $5.65 billion, a PE ratio of -9.27 and a beta of 1.71. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $45.29. The company has a 50-day moving average price of $36.27 and a 200 day moving average price of $36.76. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.30.

Analysts Set New Price Targets

Several research firms have recently issued reports on REZI. Zacks Research lowered shares of Resideo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Wall Street Zen downgraded Resideo Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Resideo Technologies in a report on Thursday, January 22nd. Finally, Morgan Stanley boosted their price objective on Resideo Technologies from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.67.

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.