Resideo Technologies, Inc. (NYSE:REZI – Get Free Report)’s stock price gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $17.95, but opened at $16.24. Resideo Technologies shares last traded at $15.30, with a volume of 152,900 shares changing hands.
The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.12). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.62 billion. Resideo Technologies had a return on equity of 10.27% and a net margin of 3.95%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS.
Insiders Place Their Bets
In related news, CAO Tina M. Beskid sold 13,543 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $17.25, for a total transaction of $233,616.75. Following the completion of the transaction, the chief accounting officer now owns 41,259 shares in the company, valued at $711,717.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.
Hedge Funds Weigh In On Resideo Technologies
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Resideo Technologies by 1.8% in the third quarter. Vanguard Group Inc. now owns 16,141,212 shares of the company’s stock worth $307,652,000 after purchasing an additional 286,247 shares during the period. Ariel Investments LLC increased its stake in shares of Resideo Technologies by 3.9% during the 4th quarter. Ariel Investments LLC now owns 13,359,523 shares of the company’s stock worth $219,764,000 after purchasing an additional 500,361 shares during the last quarter. State Street Corp lifted its holdings in shares of Resideo Technologies by 2.8% during the second quarter. State Street Corp now owns 7,114,290 shares of the company’s stock worth $138,160,000 after buying an additional 195,971 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Resideo Technologies by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,544,406 shares of the company’s stock valued at $101,349,000 after buying an additional 606,012 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Resideo Technologies by 35.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,508,338 shares of the company’s stock valued at $90,612,000 after purchasing an additional 1,444,404 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.
Resideo Technologies Stock Down 13.0 %
The company has a debt-to-equity ratio of 0.54, a current ratio of 1.70 and a quick ratio of 1.01. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 9.11 and a beta of 1.94. The business has a 50 day moving average of $17.62 and a 200 day moving average of $17.75.
About Resideo Technologies
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.