In a recent transaction on May 14, Jack R. Lazar, a director of Resideo Technologies, Inc. (NYSE:REZI), sold 9,000 shares of the company's common stock. The shares were sold at an average price of $21.8011, amounting to a total value of approximately $196,209.
This sale has adjusted Lazar's holdings in Resideo Technologies, leaving him with a total of 91,168 shares in the company following the transaction. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through the SEC's website.
Resideo Technologies, based in Austin, Texas, operates in the wholesale hardware industry and is known for providing comfort and security solutions to residential environments. The company's stock transactions are closely watched by investors as they can provide insights into the confidence levels of the company's insiders.
The transaction details indicate that Lazar's sale was a straightforward disposition of common stock, without any involvement of equity swaps. There were no additional derivative securities transactions reported at this time.
Investors and stakeholders of Resideo Technologies can continue to monitor insider transactions as they provide valuable context to the market's understanding of the company's financial health and insider perspectives.
InvestingPro Insights
As investors digest the news of Jack R. Lazar's recent stock sale, it's important to consider the broader financial context of Resideo Technologies, Inc. (NYSE:REZI). According to InvestingPro data, Resideo's market capitalization stands at $3.18 billion, reflecting the scale of the company within the wholesale hardware industry. Despite a slight revenue decline over the last twelve months as of Q1 2024, amounting to -3.65%, Resideo's gross profit margin remains strong at 27.16%, indicating the company's ability to maintain profitability in a challenging market.
An interesting point for investors is the company's price-to-earnings (P/E) ratio. The adjusted P/E ratio for the last twelve months as of Q1 2024 is 8.62, which suggests that the stock might be undervalued when compared to the industry average. This could be a signal for potential investors looking for growth opportunities, especially considering the significant price uptick of 32.89% over the last six months.
Looking at Resideo's financial stability, one of the InvestingPro Tips highlights that the company's liquid assets exceed its short-term obligations, which can be reassuring for investors concerned about the company's near-term financial health. Additionally, analysts predict the company will be profitable this year, and it has been profitable over the last twelve months. It's noteworthy that Resideo does not pay a dividend to shareholders, which may influence investment decisions depending on individual strategies.
For investors seeking more comprehensive analysis and additional InvestingPro Tips, they can explore further insights on Resideo Technologies by visiting https://www.investing.com/pro/REZI. There are currently 5 more tips available for investors who are considering this stock. To gain access to these valuable insights, potential subscribers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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