New York State Teachers Retirement System Increases Stock Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

New York State Teachers Retirement System boosted its stake in Frontdoor, Inc. (NASDAQ:FTDR) by 24.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 37,094 shares of the company’s stock after purchasing an additional 7,237 shares during the quarter. New York State Teachers Retirement System’s holdings in Frontdoor were worth $1,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FTDR. Raymond James & Associates grew its position in shares of Frontdoor by 25.1% in the first quarter. Raymond James & Associates now owns 9,646 shares of the company’s stock valued at $288,000 after purchasing an additional 1,933 shares during the period. US Bancorp DE increased its stake in Frontdoor by 11.0% during the 1st quarter. US Bancorp DE now owns 20,310 shares of the company’s stock worth $606,000 after buying an additional 2,017 shares in the last quarter. Citigroup Inc. increased its stake in Frontdoor by 42.5% during the 1st quarter. Citigroup Inc. now owns 13,991 shares of the company’s stock worth $418,000 after buying an additional 4,172 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Frontdoor during the first quarter valued at approximately $128,000. Finally, BlackRock Inc. lifted its position in shares of Frontdoor by 7.1% in the first quarter. BlackRock Inc. now owns 3,755,323 shares of the company’s stock valued at $112,096,000 after acquiring an additional 249,371 shares in the last quarter.

Frontdoor Stock Performance

Shares of Frontdoor stock opened at $29.59 on Thursday. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 13.96 and a beta of 0.89. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50-day moving average of $31.64 and a 200 day moving average of $32.69. Frontdoor, Inc. has a 12 month low of $26.09 and a 12 month high of $38.97.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.18. The firm had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $360.47 million. Frontdoor had a net margin of 9.66% and a return on equity of 142.80%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. As a group, sell-side analysts forecast that Frontdoor, Inc. will post 2.35 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wells Fargo & Company reduced their target price on shares of Frontdoor from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.40.

Frontdoor Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company's home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.