Maryland State Retirement & Pension System Reduces Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

Maryland State Retirement & Pension System lowered its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,937 shares of the company’s stock after selling 654 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Frontdoor were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FTDR. Victory Capital Management Inc. increased its stake in shares of Frontdoor by 1,152.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,017,473 shares of the company’s stock valued at $35,835,000 after purchasing an additional 936,209 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Frontdoor by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,556,259 shares of the company’s stock worth $292,326,000 after buying an additional 413,393 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Frontdoor during the 3rd quarter valued at approximately $11,865,000. Qube Research & Technologies Ltd purchased a new position in Frontdoor during the third quarter valued at $7,531,000. Finally, Reinhart Partners LLC. boosted its holdings in 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 acquiring an additional 197,019 shares in the last quarter.

Frontdoor Stock Performance

Shares of NASDAQ FTDR opened at $36.65 on Friday. Frontdoor, Inc. has a 52-week low of $28.25 and a 52-week high of $38.97. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 3.54. The firm’s 50-day moving average price is $31.58 and its 200-day moving average price is $32.92. The company has a market cap of $2.85 billion, a PE ratio of 16.07 and a beta of 0.89.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.02 by $0.18. The company had revenue of $366.00 million during the quarter, compared to analyst estimates of $360.47 million. Frontdoor had a return on equity of 132.00% and a net margin of 10.27%. Frontdoor’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, analysts anticipate that Frontdoor, Inc. will post 2.39 EPS for the current year.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their price target on Frontdoor from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued 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 $40.00.

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.