5 Stocks to Buy Now According to David Einhorn’s Greenlight Capital

1. Resideo Technologies, Inc. (NYSE:REZI)

Greenlight Capital’s Stake Value: $36,064,000 

Percentage of Greenlight Capital’s 13F Portfolio: 2.29%

Number of Hedge Fund Holders: 25

Resideo Technologies, Inc. (NYSE:REZI) develops, manufactures, and sells comfort, residential thermal, and security solutions to commercial and residential clients in the United States, Europe, and internationally. The company operates in two segments: Products & Solutions, and ADI Global Distribution.

On July 6, Resideo Technologies, Inc. (NYSE:REZI) announced that it has acquired Electronic Custom Distributors, a Texas-based regional distributor of residential audio, video, automation, security, wired, and telecommunication products.

Resideo Technologies, Inc. (NYSE:REZI) is trading at bargain levels right now. As of July 19, the stock has a trailing twelve-month PE ratio of 11.13 and the company also has free cash flows of $188 million.

In the first quarter of 2022, Greenlight Capital raised its stakes in Resideo Technologies, Inc. (NYSE:REZI) by 30%, bringing them to $36 million. The investment covers 2.29% of David Einhorn’s 13F portfolio.

At the end of Q1 2022, 25 hedge funds held stakes in Resideo Technologies, Inc. (NYSE:REZI) worth $546.50 million. This is compared to 24 hedge funds in Q4 2021 with stakes worth $560.62 million.

Ariel Investments, an investment management firm, mentioned Resideo Technologies, Inc. (NYSE:REZI) in its “Ariel Fund & Ariel Appreciation Fund” fourth-quarter 2021 investor letter. Here is what the firm said:

“During the quarter, Ariel Fund added shares of leading supplier of residential thermal, comfort, and security solutions, Resideo Technologies, Inc. (REZI). While the company has struggled to find its footing since being spun-out of Honeywell in 2018, we see early evidence that the new management’s long-term strategic vision is both achievable and not yet being embraced by investors. We view this as an opportunity to own a niche business, well positioned to benefit from the ongoing housing recovery and a secular preference for more connected smart home solutions.”

You can also take a look at 10 Best SPACs to Buy According to David Einhorn’s Greenlight Capital and 10 Stocks Under $30 to Buy According to David Einhorn’s Greenlight Capital.

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