2,518 Shares in Resideo Technologies, Inc. (NYSE:REZI) Acquired by Lazard Asset Management LLC

Posted by Defense World Staff on Mar 8th, 2023

Lazard Asset Management LLC bought a new position in shares of Resideo Technologies, Inc. (NYSE:REZI – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,518 shares of the company’s stock, valued at approximately $47,000.

A number of other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in Resideo Technologies by 36.3% in the third quarter. Bessemer Group Inc. now owns 3,104 shares of the company’s stock valued at $58,000 after purchasing an additional 826 shares during the last quarter. Eaton Vance Management increased its stake in Resideo Technologies by 3.6% in the first quarter. Eaton Vance Management now owns 26,148 shares of the company’s stock valued at $623,000 after purchasing an additional 913 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Resideo Technologies by 72.5% in the first quarter. Parkside Financial Bank & Trust now owns 2,467 shares of the company’s stock valued at $59,000 after purchasing an additional 1,037 shares during the last quarter. Victory Capital Management Inc. increased its stake in Resideo Technologies by 2.2% in the third quarter. Victory Capital Management Inc. now owns 50,109 shares of the company’s stock valued at $955,000 after purchasing an additional 1,077 shares during the last quarter. Finally, Bailard Inc. increased its stake in Resideo Technologies by 3.9% in the third quarter. Bailard Inc. now owns 29,200 shares of the company’s stock valued at $557,000 after purchasing an additional 1,100 shares during the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Resideo Technologies

In other Resideo Technologies news, Director Nina Richardson sold 3,458 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $18.78, for a total value of $64,941.24. Following the completion of the sale, the director now owns 47,731 shares of the company’s stock, valued at $896,388.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Nina Richardson sold 3,458 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $18.78, for a total value of $64,941.24. Following the completion of the transaction, the director now owns 47,731 shares in the company, valued at $896,388.18. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeannine J. Lane sold 14,903 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $18.39, for a total value of $274,066.17. Following the completion of the transaction, the executive vice president now owns 118,600 shares of the company’s stock, valued at approximately $2,181,054. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on REZI. TheStreet upgraded shares of Resideo Technologies from a “c+” rating to a “b-” rating in a research note on Tuesday, February 21st. William Blair reissued a “market perform” rating on shares of Resideo Technologies in a report on Wednesday, February 15th. Finally, Morgan Stanley decreased their price objective on Resideo Technologies from $26.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, January 18th.

Resideo Technologies Price Performance

Shares of NYSE REZI opened at $17.35 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.62 and a quick ratio of 0.99. The stock has a fifty day moving average price of $18.24 and a 200 day moving average price of $18.71. Resideo Technologies, Inc. has a 1-year low of $14.95 and a 1-year high of $27.07. The company has a market cap of $2.54 billion, a PE ratio of 9.18 and a beta of 1.96.

Resideo Technologies (NYSE:REZI – Get Rating) last released its earnings results on Wednesday, February 15th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Resideo Technologies had a net margin of 4.44% and a return on equity of 11.69%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the business posted $0.45 EPS. Resideo Technologies’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that Resideo Technologies, Inc. will post 2.01 EPS for the current year.

Resideo Technologies Company Profile

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Resideo Technologies, Inc engages in the provision of critical comfort, thermal and security solutions primarily in residential environments. It operates through the following business segments: Products & Solutions and ADI Global Distribution. The Products & Solutions Segment offers Security categories and include temperature and humidity control, thermal, water, and air solutions as well as security panels, sensors, peripherals, wire and cable, communications devices, video cameras, awareness, cloud infrastructure, installation and maintenance tools, and related software.