Federated Hermes Inc. Sells 809,221 Shares of Resideo Technologies, Inc. $REZI

Federated Hermes Inc. reduced its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI) by 59.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 541,332 shares of the company’s stock after selling 809,221 shares during the quarter. Federated Hermes Inc. owned 0.36% of Resideo Technologies worth $11,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of REZI. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Resideo Technologies in the 1st quarter worth about $65,000. IFP Advisors Inc boosted its holdings in shares of Resideo Technologies by 37.6% during the 2nd quarter. IFP Advisors Inc now owns 3,341 shares of the company’s stock valued at $81,000 after acquiring an additional 913 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Resideo Technologies by 74.5% in the second quarter. GAMMA Investing LLC now owns 5,393 shares of the company’s stock worth $119,000 after acquiring an additional 2,302 shares during the period. Blue Trust Inc. raised its holdings in shares of Resideo Technologies by 113.0% during the second quarter. Blue Trust Inc. now owns 6,101 shares of the company’s stock valued at $135,000 after purchasing an additional 3,237 shares during the last quarter. Finally, CWM LLC lifted its position in Resideo Technologies by 132.7% during the second quarter. CWM LLC now owns 6,963 shares of the company’s stock valued at $154,000 after purchasing an additional 3,971 shares during the period. 91.71% of the stock is owned by hedge funds and other institutional investors.

Resideo Technologies Stock Up 5.3%

NYSE REZI opened at $35.36 on Thursday. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $45.29. The company has a quick ratio of 1.07, a current ratio of 1.88 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $5.29 billion, a P/E ratio of -7.56 and a beta of 1.74. The stock’s 50-day moving average price is $37.20 and its 200-day moving average price is $31.54.

Resideo Technologies (NYSE:REZI) last released its earnings results on Wednesday, November 5th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.18. Resideo Technologies had a negative net margin of 8.85% and a positive return on equity of 14.96%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm posted $0.58 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Resideo Technologies has set its FY 2025 guidance at 2.570-2.670 EPS and its Q4 2025 guidance at 0.420-0.520 EPS. On average, equities research analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Channel Holdings Ii L.P. Cd&R bought 566,758 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average price of $31.82 per share, with a total value of $18,034,239.56. Following the acquisition, the insider owned 14,960,492 shares of the company’s stock, valued at approximately $476,042,855.44. This represents a 3.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew C. Teich purchased 8,149 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $30.68 per share, for a total transaction of $250,011.32. Following the completion of the acquisition, the director owned 340,621 shares of the company’s stock, valued at approximately $10,450,252.28. This trade represents a 2.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 1,697,907 shares of company stock valued at $53,222,621. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

REZI has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Resideo Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research lowered Resideo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Oppenheimer upped their price objective on Resideo Technologies from $35.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Resideo Technologies in a research report on Wednesday, October 8th. Two research 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.67.

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.