Kevin Oram’s Praesidium Investment’s Top 5 Stock Picks

3. Resideo Technologies Inc. (NYSE:REZI)

Oram’s Stake Value: $224,113,000

Percentage of Oram’s 13F Portfolio: 11.95%

Number of Hedge Fund Holders: 28

The third stock on our list of Kevin Oram’s Praesidium Investment’s top 5 stock picks is Resideo Technologies Inc. (NYSE:REZI), which is a mega-company providing home solution including thermostats, security, and water management systems, among others. Resideo Technologies Inc. (NYSE:REZI) offers the Honeywell Home products that have served more than 150 million homes and have a strong legacy of trust and customer satisfaction. 

Oram’s Praesidium Investments own about 7.47 million shares in Resideo Technologies Inc. (NYSE:REZI), amounting to $224.1 million, and making up 11.95% of Oram’s 13F portfolio. At the end of the second quarter of 2021, 28 hedge funds in Insider Monkey’s database held stakes amounting to $682.95 million in Resideo Technologies Inc. (NYSE:REZI), up from 27 in the previous quarter with stakes worth over $666.84 million. The company reported last quarter’s earnings per share of $0.39 on August 5, beating analysts’ consensus estimates of $0.31 by $0.08. 

In their Q1 2021 investor letter, ClearBridge Investments mentioned Resideo Technologies Inc. (NYSE:REZI). Here is what they said: 

“More recent additions Resideo Technologies, a distributor of comfort, safety and energy efficiency products for the home are benefiting from new management teams better at allocating capital, optimizing manufacturing and improving procurement. The company has a strong opportunity to improve returns, which should lead to improved earnings and multiples.”