Resideo Technologies, Inc. (NYSE:REZI) is Praesidium Investment Management Company LLC’s 2nd Largest Position

Praesidium Investment Management Company LLC lessened its holdings in Resideo Technologies, Inc. (NYSE:REZI) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,298,723 shares of the company’s stock after selling 427,433 shares during the period. Resideo Technologies comprises about 12.1% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 2nd largest holding. Praesidium Investment Management Company LLC owned 0.06% of Resideo Technologies worth $234,439,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Lazard Asset Management LLC purchased a new stake in Resideo Technologies during the 4th quarter worth approximately $25,000. Concord Wealth Partners boosted its holdings in shares of Resideo Technologies by 2,652.9% during the 1st quarter. Concord Wealth Partners now owns 936 shares of the company’s stock worth $26,000 after purchasing an additional 902 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of Resideo Technologies during the 1st quarter worth approximately $27,000. Federated Hermes Inc. acquired a new position in shares of Resideo Technologies during the 4th quarter worth approximately $28,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Resideo Technologies by 165.4% during the 1st quarter. Bessemer Group Inc. now owns 1,080 shares of the company’s stock worth $30,000 after purchasing an additional 673 shares during the last quarter. Hedge funds and other institutional investors own 91.26% of the company’s stock.

In other Resideo Technologies news, Director Nina Richardson sold 2,120 shares of the business’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $29.63, for a total value of $62,815.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

NYSE REZI traded down $0.68 on Thursday, reaching $28.31. The stock had a trading volume of 21,470 shares, compared to its average volume of 682,688. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 38.65 and a beta of 2.57. The company has a quick ratio of 1.06, a current ratio of 1.54 and a debt-to-equity ratio of 0.58. Resideo Technologies, Inc. has a 12-month low of $9.79 and a 12-month high of $32.80. The company’s fifty day moving average price is $29.56.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Thursday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.38). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Resideo Technologies had a net margin of 2.01% and a return on equity of 13.76%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) EPS. On average, sell-side analysts expect that Resideo Technologies, Inc. will post 1.42 earnings per share for the current year.

REZI has been the topic of several recent research reports. Zacks Investment Research cut Resideo Technologies from a “hold” rating to a “sell” rating in a report on Saturday, July 17th. TheStreet upgraded Resideo Technologies from a “d+” rating to a “c-” rating in a report on Monday, March 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Resideo Technologies currently has an average rating of “Hold” and an average target price of $29.20.

Resideo Technologies Company Profile

Resideo Technologies, Inc develops, manufactures, and sells comfort, residential thermal, and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products & Solutions, and ADI Global Distribution.

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Institutional Ownership by Quarter for Resideo Technologies (NYSE:REZI)

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