Louisiana State Employees Retirement System Trims Position in Frontdoor, Inc. (NASDAQ:FTDR)

Louisiana State Employees Retirement System decreased its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 5.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,000 shares of the company’s stock after selling 2,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Frontdoor were worth $1,776,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FTDR. Vanguard Group Inc. lifted its stake in Frontdoor by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company’s stock worth $331,636,000 after purchasing an additional 373,091 shares in the last quarter. Boston Partners boosted its stake in Frontdoor by 8.9% during the first 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. Reinhart Partners LLC. grew its holdings in Frontdoor by 1.8% during the 2nd quarter. Reinhart Partners LLC. now owns 2,330,937 shares of the company’s stock valued at $78,762,000 after buying an additional 42,169 shares in the last quarter. Victory Capital Management Inc. increased its stake in Frontdoor by 8.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company’s stock worth $73,529,000 after acquiring an additional 173,624 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Frontdoor by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,787,539 shares of the company’s stock worth $60,402,000 after acquiring an additional 89,301 shares in the last quarter.

Analysts Set New Price Targets

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

Frontdoor Trading Up 3.7 %

FTDR opened at $51.57 on Thursday. Frontdoor, Inc. has a 12 month low of $28.45 and a 12 month high of $53.10. The stock has a fifty day moving average price of $48.67 and a 200-day moving average price of $40.73. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 22.62 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 announced its earnings results 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. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The company had revenue of $542.00 million during the quarter, compared to the consensus estimate of $536.74 million. During the same period last year, the firm earned $0.87 earnings per share. Frontdoor’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Frontdoor, Inc. will post 2.79 earnings per share for the current fiscal 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.