Sachem Head Capital Management LP Makes New $57.07 Million Investment in Resideo Technologies, Inc. $REZI

Sachem Head Capital Management LP bought a new position in Resideo Technologies, Inc. (NYSE:REZI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,625,000 shares of the company’s stock, valued at approximately $57,070,000. Resideo Technologies accounts for about 1.3% of Sachem Head Capital Management LP’s investment portfolio, making the stock its 18th largest holding. Sachem Head Capital Management LP owned about 1.09% of Resideo Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MML Investors Services LLC increased its stake in Resideo Technologies by 13.5% in the fourth quarter. MML Investors Services LLC now owns 14,774 shares of the company’s stock worth $519,000 after purchasing an additional 1,758 shares during the period. Kennedy Capital Management LLC increased its stake in Resideo Technologies by 33.0% in the fourth quarter. Kennedy Capital Management LLC now owns 642,829 shares of the company’s stock worth $22,576,000 after purchasing an additional 159,433 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Resideo Technologies by 1.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,998,417 shares of the company’s stock worth $70,184,000 after purchasing an additional 32,260 shares during the period. Alta Fox Capital Management LLC purchased a new stake in Resideo Technologies in the fourth quarter worth $44,487,000. Finally, Kestra Advisory Services LLC purchased a new stake in Resideo Technologies in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on REZI shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Resideo Technologies in a research note on Tuesday, April 21st. Morgan Stanley raised their price target on Resideo Technologies from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Finally, Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research note on Friday, March 13th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.00.

Resideo Technologies Stock Performance

Shares of Resideo Technologies stock opened at $31.59 on Monday. The firm has a market cap of $4.78 billion, a P/E ratio of -8.23 and a beta of 1.64. The company has a current ratio of 2.07, a quick ratio of 1.19 and a debt-to-equity ratio of 1.30. Resideo Technologies, Inc. has a 12 month low of $20.41 and a 12 month high of $45.29. The stock’s fifty day moving average price is $34.75 and its 200-day moving average price is $35.19.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. Resideo Technologies had a positive return on equity of 16.70% and a negative net margin of 6.71%.The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. Resideo Technologies has set its FY 2026 guidance at 3.000-3.200 EPS and its Q2 2026 guidance at 0.710-0.750 EPS. On average, equities research analysts expect that Resideo Technologies, Inc. will post 2.63 earnings per share for the current fiscal year.

About Resideo Technologies

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.