State Board of Administration of Florida Retirement System trimmed its holdings in Frontdoor, Inc. (NASDAQ:FTDR – Get Rating) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,913 shares of the company’s stock after selling 3,350 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Frontdoor were worth $643,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of FTDR. Point72 Hong Kong Ltd acquired a new position in shares of Frontdoor during the third quarter worth $74,000. Allspring Global Investments Holdings LLC raised its position in Frontdoor by 246.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,774 shares of the company’s stock valued at $97,000 after purchasing an additional 3,398 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Frontdoor during the 1st quarter valued at $128,000. ProShare Advisors LLC boosted its stake in Frontdoor by 19.4% during the 3rd quarter. ProShare Advisors LLC now owns 11,345 shares of the company’s stock worth $231,000 after acquiring an additional 1,847 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Frontdoor during the 4th quarter worth $235,000.
Analyst Ratings Changes
FTDR has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Frontdoor from a “neutral” rating to an “overweight” rating and raised their price target for the company from $30.00 to $38.00 in a research note on Thursday, May 4th. Wells Fargo & Company upped their price target on Frontdoor from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.60.
Frontdoor Stock Performance
Frontdoor (NASDAQ:FTDR – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.07 by $0.22. Frontdoor had a net margin of 5.43% and a return on equity of 251.78%. The firm had revenue of $367.00 million for the quarter, compared to analyst estimates of $360.74 million. During the same period last year, the business earned $0.04 EPS. Frontdoor’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, analysts anticipate that Frontdoor, Inc. will post 1.34 EPS for the current year.
Frontdoor, Inc engages in the provision of home service plans. Its home service plans cover the repair or replacement of major home’s systems and appliances. The firm’s service focuses on water heaters, garbage disposals, doorbells, smoke detectors, ceiling fans, central vacuums, refrigerators, dishwashers and trash compactors.
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