California Public Employees Retirement System Acquires 12,569 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

California Public Employees Retirement System increased its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 7.8% during the 4th quarter, HoldingsChannel reports. The fund owned 173,132 shares of the company’s stock after buying an additional 12,569 shares during the period. California Public Employees Retirement System’s holdings in Frontdoor were worth $6,098,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FTDR. Jackson Creek Investment Advisors LLC bought a new position in shares of Frontdoor in the third quarter worth approximately $822,000. Reinhart Partners LLC. lifted its stake in shares of Frontdoor by 11.0% in the fourth quarter. Reinhart Partners LLC. now owns 1,984,123 shares of the company’s stock worth $69,881,000 after buying an additional 197,019 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Frontdoor by 500.6% in the third quarter. Lazard Asset Management LLC now owns 45,158 shares of the company’s stock worth $1,381,000 after buying an additional 37,639 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Frontdoor in the third quarter worth approximately $88,000. Finally, FMR LLC lifted its stake in shares of Frontdoor by 0.3% in the third quarter. FMR LLC now owns 581,862 shares of the company’s stock worth $17,799,000 after buying an additional 1,839 shares in the last quarter.

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped their target price on shares of Frontdoor from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.40.

Frontdoor Stock Up 1.9 %

FTDR opened at $34.65 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.14 and a debt-to-equity ratio of 3.54. The firm has a 50 day moving average price of $31.26 and a 200-day moving average price of $32.77. Frontdoor, Inc. has a twelve month low of $27.76 and a twelve month high of $38.97. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 15.20 and a beta of 0.89.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.18. Frontdoor had a net margin of 10.27% and a return on equity of 132.00%. The firm had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $360.47 million. During the same period in the previous year, the company earned $0.13 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that Frontdoor, Inc. will post 2.36 earnings per share for the current year.

Frontdoor Company 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.