The Manufacturers Life Insurance Company Reduces Holdings in Resideo Technologies, Inc. (NYSE:REZI)

The Manufacturers Life Insurance Company trimmed its holdings in Resideo Technologies, Inc. (NYSE:REZI) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,169 shares of the company’s stock after selling 2,680 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Resideo Technologies were worth $1,756,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Tudor Investment Corp ET AL raised its holdings in shares of Resideo Technologies by 45.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 125,229 shares of the company’s stock worth $2,887,000 after buying an additional 39,274 shares during the period. Quarry LP purchased a new stake in shares of Resideo Technologies in the fourth quarter worth approximately $28,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Resideo Technologies by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 107,305 shares of the company’s stock worth $2,474,000 after buying an additional 10,335 shares during the period. Stifel Financial Corp purchased a new stake in Resideo Technologies in the 4th quarter valued at about $226,000. Finally, Tower Research Capital LLC TRC boosted its position in Resideo Technologies by 8.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,582 shares of the company’s stock valued at $267,000 after buying an additional 933 shares during the period. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Resideo Technologies Price Performance

Resideo Technologies stock opened at $19.80 on Monday. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 31.43 and a beta of 2.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.82 and a quick ratio of 1.10. Resideo Technologies, Inc. has a 1 year low of $14.18 and a 1 year high of $28.28. The firm has a 50-day moving average of $17.05 and a two-hundred day moving average of $21.12.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.08). The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Resideo Technologies had a net margin of 1.69% and a return on equity of 11.12%. On average, research analysts forecast that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut shares of Resideo Technologies from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $31.00 to $16.00 in a research report on Tuesday, April 22nd.

Insider Activity

In related news, major shareholder Channel Holdings Ii L.P. Cd&R bought 5,754,501 shares of the stock in a transaction on Friday, May 9th. The stock was bought at an average price of $17.38 per share, for a total transaction of $100,013,227.38. Following the completion of the acquisition, the insider now directly owns 5,754,501 shares in the company, valued at approximately $100,013,227.38. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Resideo Technologies 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.