Resideo Technologies (NYSE:REZI) Announces Earnings Results – MarketBeat
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Resideo Technologies (NYSE:REZI – Get Rating) issued its earnings results on Thursday. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.56 by $0.07, Briefing.com reports. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Resideo Technologies had a return on equity of 12.62% and a net margin of 4.72%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. Resideo Technologies updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.
Resideo Technologies Stock Performance
Shares of NYSE:REZI traded up $0.23 on Friday, reaching $22.89. 749,797 shares of the company’s stock were exchanged, compared to its average volume of 664,890. Resideo Technologies has a fifty-two week low of $18.36 and a fifty-two week high of $33.25. The business’s 50-day moving average is $21.33 and its two-hundred day moving average is $23.20. The company has a quick ratio of 0.92, a current ratio of 1.51 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 12.18 and a beta of 2.18.
Insider Activity
In other news, insider Robert B. Aarnes sold 65,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $23.03, for a total transaction of $1,508,465.00. Following the completion of the transaction, the insider now directly owns 155,081 shares of the company’s stock, valued at $3,571,515.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.
Hedge Funds Weigh In On Resideo Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Resideo Technologies by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 15,677,719 shares of the company’s stock valued at $373,600,000 after buying an additional 326,608 shares in the last quarter. Ariel Investments LLC lifted its stake in shares of Resideo Technologies by 48.9% in the 1st quarter. Ariel Investments LLC now owns 8,889,988 shares of the company’s stock worth $211,848,000 after acquiring an additional 2,918,450 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Resideo Technologies by 13.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,922,481 shares of the company’s stock valued at $93,477,000 after acquiring an additional 474,448 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Resideo Technologies by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,564,868 shares of the company’s stock valued at $37,292,000 after acquiring an additional 42,758 shares during the period. Finally, Invesco Ltd. raised its holdings in Resideo Technologies by 18.6% during the first quarter. Invesco Ltd. now owns 839,841 shares of the company’s stock worth $20,014,000 after purchasing an additional 132,003 shares in the last quarter. 92.91% of the stock is currently owned by institutional investors and hedge funds.
Resideo Technologies Company Profile
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Resideo Technologies, Inc develops, manufactures, and sells comfort, residential thermal, and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products & Solutions, and ADI Global Distribution.
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