Public Sector Pension Investment Board Sells 8,800 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Public Sector Pension Investment Board reduced its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 162,318 shares of the company’s stock after selling 8,800 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of Frontdoor worth $7,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Frontdoor by 108.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,248 shares of the company’s stock worth $1,740,000 after purchasing an additional 18,849 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in Frontdoor by 1.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 506,328 shares of the company’s stock worth $24,299,000 after purchasing an additional 6,189 shares during the last quarter. Bridgewater Associates LP raised its holdings in Frontdoor by 146.6% during the 3rd quarter. Bridgewater Associates LP now owns 63,721 shares of the company’s stock worth $3,058,000 after purchasing an additional 37,881 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Frontdoor by 15.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 179,858 shares of the company’s stock worth $8,631,000 after purchasing an additional 23,922 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Frontdoor by 36.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 54,244 shares of the company’s stock worth $2,603,000 after purchasing an additional 14,378 shares during the last quarter.

Frontdoor Price Performance

Shares of FTDR opened at $58.60 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a 50 day simple moving average of $52.11 and a 200 day simple moving average of $44.20. Frontdoor, Inc. has a 52-week low of $29.41 and a 52-week high of $60.42. The firm has a market capitalization of $4.44 billion, a PE ratio of 19.26 and a beta of 1.03.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The business had revenue of $540.00 million during the quarter, compared to analyst estimates of $541.88 million. During the same period in the previous year, the firm earned $0.94 EPS. Frontdoor’s quarterly revenue was up 3.1% compared to the same quarter last year. Sell-side analysts predict that Frontdoor, Inc. will post 3.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial boosted their price objective on Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. The Goldman Sachs Group upped their price target on Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Finally, William Blair raised Frontdoor from a “market perform” rating to an “outperform” rating in a research note 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 assigned a buy rating to the stock. According to MarketBeat.com, Frontdoor presently has a consensus rating of “Hold” and a consensus price target of $49.50.

About Frontdoor

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.