Gabelli Funds LLC Decreases Holdings in Resideo Technologies, Inc. $REZI

Gabelli Funds LLC decreased its holdings in Resideo Technologies, Inc. (NYSE:REZI) by 8.4% in the third quarter, Holdings Channel reports. The fund owned 506,075 shares of the company’s stock after selling 46,348 shares during the quarter. Gabelli Funds LLC’s holdings in Resideo Technologies were worth $21,852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management increased its stake in Resideo Technologies by 10,385.2% during the third quarter. Picton Mahoney Asset Management now owns 6,396 shares of the company’s stock worth $276,000 after acquiring an additional 6,335 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Resideo Technologies by 13.4% in the 3rd quarter. Victory Capital Management Inc. now owns 994,351 shares of the company’s stock valued at $42,936,000 after purchasing an additional 117,772 shares during the last quarter. Elo Mutual Pension Insurance Co purchased a new position in shares of Resideo Technologies in the 3rd quarter worth approximately $708,000. Fisher Asset Management LLC increased its position in shares of Resideo Technologies by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 1,090,528 shares of the company’s stock valued at $47,089,000 after purchasing an additional 44,206 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Resideo Technologies during the 3rd quarter valued at approximately $2,710,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Stock Performance

Resideo Technologies stock opened at $34.00 on Friday. The company has a 50 day moving average price of $36.27 and a 200-day moving average price of $36.80. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.14 and a current ratio of 1.91. Resideo Technologies, Inc. has a fifty-two week low of $14.18 and a fifty-two week high of $45.29. The company has a market capitalization of $5.14 billion, a PE ratio of -8.44 and a beta of 1.71.

Analyst Upgrades and Downgrades

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

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.