Ariel Investments LLC Sells 2,436,140 Shares of Resideo Technologies, Inc. (NYSE:REZI)

Ariel Investments LLC lowered its position in Resideo Technologies, Inc. (NYSE:REZI) by 20.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,590,360 shares of the company’s stock after selling 2,436,140 shares during the quarter. Resideo Technologies makes up about 2.0% of Ariel Investments LLC’s investment portfolio, making the stock its 20th largest position. Ariel Investments LLC owned 0.07% of Resideo Technologies worth $187,587,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Resideo Technologies in the fourth quarter valued at about $29,610,000. Pacer Advisors Inc. lifted its holdings in Resideo Technologies by 14.8% in the 2nd quarter. Pacer Advisors Inc. now owns 6,104,301 shares of the company’s stock worth $119,400,000 after purchasing an additional 787,934 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Resideo Technologies by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,822,902 shares of the company’s stock worth $153,015,000 after purchasing an additional 397,864 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Resideo Technologies by 167.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 542,409 shares of the company’s stock worth $10,610,000 after purchasing an additional 339,434 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Resideo Technologies during the 1st quarter valued at approximately $4,733,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Stock Down 0.7 %

Shares of REZI stock opened at $19.07 on Thursday. The stock has a market cap of $2.79 billion, a P/E ratio of 14.34 and a beta of 2.07. The company’s fifty day simple moving average is $19.80 and its two-hundred day simple moving average is $20.51. The company has a quick ratio of 1.06, a current ratio of 1.81 and a debt-to-equity ratio of 0.70. Resideo Technologies, Inc. has a 52 week low of $14.19 and a 52 week high of $23.43.

Resideo Technologies (NYSE:REZI) last posted its earnings results on Thursday, August 8th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.20. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.53 billion. Resideo Technologies had a return on equity of 10.32% and a net margin of 2.85%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. Analysts predict that Resideo Technologies, Inc. will post 1.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Evercore ISI initiated coverage on shares of Resideo Technologies in a report on Friday, August 9th. They issued an “outperform” rating and a $25.00 target price on the 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.