Public Sector Pension Investment Board Buys 7,912 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Public Sector Pension Investment Board boosted its stake in Frontdoor, Inc. (NASDAQ:FTDR) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,118 shares of the company’s stock after acquiring an additional 7,912 shares during the quarter. Public Sector Pension Investment Board owned 0.22% of Frontdoor worth $5,782,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB raised its holdings in shares of Frontdoor by 112.7% in the second quarter. Swedbank AB now owns 1,210,600 shares of the company’s stock valued at $40,906,000 after purchasing an additional 641,476 shares during the last quarter. Norges Bank acquired a new stake in Frontdoor in the 4th quarter valued at $18,725,000. Boston Partners increased its stake in Frontdoor by 8.9% in the 1st quarter. Boston Partners now owns 6,198,543 shares of the company’s stock valued at $201,662,000 after buying an additional 506,217 shares during the last quarter. Invenomic Capital Management LP lifted its position in Frontdoor by 57.3% during the 1st quarter. Invenomic Capital Management LP now owns 1,072,445 shares of the company’s stock worth $34,940,000 after buying an additional 390,610 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Frontdoor by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company’s stock worth $331,636,000 after buying an additional 373,091 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently issued reports on FTDR shares. JPMorgan Chase & Co. lifted their target price on Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. The Goldman Sachs Group boosted their price target on Frontdoor from $33.00 to $41.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Truist Financial increased their price objective on Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, William Blair upgraded shares of Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Frontdoor has a consensus rating of “Hold” and an average price target of $47.75.

Frontdoor Stock Up 0.7 %

FTDR opened at $48.54 on Thursday. The stock’s fifty day simple moving average is $45.25 and its 200 day simple moving average is $37.64. Frontdoor, Inc. has a 1-year low of $28.25 and a 1-year high of $49.43. The stock has a market cap of $3.71 billion, a PE ratio of 21.29 and a beta of 1.04. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.66.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.27. The company had revenue of $542.00 million for the quarter, compared to analyst estimates of $536.74 million. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, research analysts expect that Frontdoor, Inc. will post 2.79 earnings per share for the current year.

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.