J. Goldman & Co LP Buys New Stake in Resideo Technologies, Inc. $REZI

J. Goldman & Co LP purchased a new position in shares of Resideo Technologies, Inc. (NYSE:REZI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 578,222 shares of the company’s stock, valued at approximately $17,983,000. J. Goldman & Co LP owned 0.38% of Resideo Technologies as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Danske Bank A S grew its position in Resideo Technologies by 600.0% in the 4th quarter. Danske Bank A S now owns 700 shares of the company’s stock valued at $25,000 after buying an additional 600 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Resideo Technologies by 283.8% in the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after acquiring an additional 420 shares during the period. Allworth Financial LP bought a new position in shares of Resideo Technologies in the second quarter valued at approximately $28,000. McMillan Office Inc. acquired a new position in shares of Resideo Technologies during the fourth quarter valued at approximately $33,000. Finally, Kestra Advisory Services LLC bought a new stake in Resideo Technologies during the fourth quarter worth approximately $34,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Oppenheimer reaffirmed an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Zacks Research downgraded shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Finally, Seaport Research Partners began coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.00.

Resideo Technologies Stock Performance

REZI opened at $19.91 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. Resideo Technologies, Inc. has a fifty-two week low of $18.96 and a fifty-two week high of $45.29. The firm has a market cap of $3.02 billion, a PE ratio of 8.81 and a beta of 1.63. The business has a fifty day simple moving average of $29.90 and a 200-day simple moving average of $33.21.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings data 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. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. As a group, equities analysts predict that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.

Insider Activity

In other Resideo Technologies news, CEO Thomas A. Surran acquired 15,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the transaction, the chief executive officer owned 338,573 shares of the company’s stock, valued at $6,927,203.58. The trade was a 4.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joshua Peter Foster bought 15,317 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the purchase, the senior vice president owned 183,509 shares in the company, valued at approximately $3,776,615.22. This represents a 9.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 41,245 shares of company stock worth $848,115. 1.60% of the stock is owned by corporate insiders.

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.