Alpha Wave Global LP Acquires New Stake in Resideo Technologies, Inc. $REZI

Alpha Wave Global LP acquired a new stake in Resideo Technologies, Inc. (NYSE:REZI) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 204,051 shares of the company’s stock, valued at approximately $8,811,000. Resideo Technologies accounts for 0.9% of Alpha Wave Global LP’s portfolio, making the stock its 11th largest holding. Alpha Wave Global LP owned 0.14% of Resideo Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clayton Dubilier & Rice LLC grew its stake in shares of Resideo Technologies by 130.3% during the third quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company’s stock valued at $573,706,000 after buying an additional 7,516,233 shares during the last quarter. Norges Bank bought a new position in Resideo Technologies during the 2nd quarter worth approximately $40,374,000. Franklin Resources Inc. increased its stake in Resideo Technologies by 1,325.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company’s stock worth $81,553,000 after purchasing an additional 1,756,131 shares during the period. Ophir Asset Management Pty Ltd purchased a new position in Resideo Technologies in the 2nd quarter worth approximately $35,419,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Resideo Technologies by 365.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,966,157 shares of the company’s stock valued at $84,899,000 after purchasing an additional 1,543,952 shares during the last quarter. Institutional investors own 91.71% of the company’s stock.

Resideo Technologies Stock Up 0.1%

Resideo Technologies stock opened at $33.57 on Friday. The stock has a market cap of $5.08 billion, a PE ratio of -8.33 and a beta of 1.71. 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 one year low of $14.18 and a one year high of $45.29. The stock has a fifty day moving average of $36.18 and a 200 day moving average of $36.82.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Resideo Technologies from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d+)” rating on shares of Resideo Technologies in a report on Thursday, January 22nd. Finally, Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research report on Friday. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.67.

Resideo Technologies 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.