Clearbridge Investments LLC Sells 327,558 Shares of Resideo Technologies, Inc. (NYSE:REZI)

Clearbridge Investments LLC cut its position in Resideo Technologies, Inc. (NYSE:REZI) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,759,917 shares of the company’s stock after selling 327,558 shares during the quarter. Clearbridge Investments LLC’s holdings in Resideo Technologies were worth $34,424,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in REZI. Pacer Advisors Inc. lifted its stake in Resideo Technologies by 14.8% in the second quarter. Pacer Advisors Inc. now owns 6,104,301 shares of the company’s stock valued at $119,400,000 after acquiring an additional 787,934 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Resideo Technologies by 53.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,214,375 shares of the company’s stock valued at $23,753,000 after purchasing an additional 422,730 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Resideo Technologies by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 7,822,902 shares of the company’s stock worth $153,015,000 after purchasing an additional 397,864 shares during the period. Cubist Systematic Strategies LLC increased its position in Resideo Technologies by 167.2% during the second quarter. Cubist Systematic Strategies LLC now owns 542,409 shares of the company’s stock worth $10,610,000 after buying an additional 339,434 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in Resideo Technologies in the first quarter valued at approximately $4,733,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Evercore ISI began coverage on Resideo Technologies in a research note on Friday, August 9th. They set an “outperform” rating and a $25.00 target price for the company.

Resideo Technologies Price Performance

NYSE:REZI opened at $19.30 on Friday. The company has a market cap of $2.83 billion, a P/E ratio of 14.51 and a beta of 2.07. The firm’s fifty day moving average price is $19.62 and its two-hundred day moving average price is $20.40. Resideo Technologies, Inc. has a one year low of $14.19 and a one year high of $23.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.81 and a quick ratio of 1.06.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.20. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.53 billion. Resideo Technologies had a net margin of 2.85% and a return on equity of 10.32%. Resideo Technologies’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. Equities analysts expect that Resideo Technologies, Inc. will post 1.92 earnings per share for the current year.

Resideo Technologies Company Profile

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