Boston Partners Increases Stock Holdings in Frontdoor Inc. (NASDAQ:FTDR)

Key Points

• Boston Partners increased its stake in Frontdoor Inc. by 1.2%, holding approximately 8.13% of the company, valued at $229.89 million.
• In a significant insider transaction, SVP Jeffrey Fiarman sold 129,673 shares for about $7.28 million, reducing his ownership by 78.92%.
• Frontdoor reported earnings of $1.63 per share, outperforming estimates, and its quarterly revenue reached $617 million, a 13.8% increase year-over-year.

Boston Partners raised its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,980,271 shares of the company's stock after acquiring an additional 68,733 shares during the period. Boston Partners owned approximately 8.13% of Frontdoor worth $229,891,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FTDR. LPL Financial LLC acquired a new stake in Frontdoor during the 4th quarter valued at approximately $336,000. Wells Fargo & Company MN increased its holdings in shares of Frontdoor by 33.0% during the 4th quarter. Wells Fargo & Company MN now owns 45,571 shares of the company's stock valued at $2,491,000 after purchasing an additional 11,298 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Frontdoor by 2.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 61,316 shares of the company's stock valued at $3,352,000 after purchasing an additional 1,741 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Frontdoor by 5.2% in the 4th quarter. Russell Investments Group Ltd. now owns 75,389 shares of the company's stock valued at $4,122,000 after purchasing an additional 3,706 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Frontdoor by 12.8% in the 4th quarter. Bank of Montreal Can now owns 9,060 shares of the company's stock valued at $495,000 after purchasing an additional 1,031 shares during the period.

Frontdoor Price Performance

NASDAQ FTDR traded down $0.18 on Friday, hitting $58.89. The company had a trading volume of 656,948 shares, compared to its average volume of 726,615. The company has a market capitalization of $4.29 billion, a PE ratio of 17.37 and a beta of 1.32. The company's fifty day moving average price is $57.98 and its 200-day moving average price is $51.36. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.49 and a quick ratio of 1.49. Frontdoor Inc. has a 12-month low of $35.61 and a 12-month high of $64.91.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.19. Frontdoor had a net margin of 13.07% and a return on equity of 125.21%. The business had revenue of $617.00 million during the quarter, compared to analyst estimates of $602.62 million. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current year.

Insider Activity

In other news, SVP Jeffrey Fiarman sold 129,673 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $56.15, for a total transaction of $7,281,138.95. Following the completion of the sale, the senior vice president owned 34,646 shares of the company's stock, valued at $1,945,372.90. This represents a 78.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.48% of the stock is owned by insiders.

Analysts Set New Price Targets

FTDR has been the subject of several analyst reports. Oppenheimer boosted their target price on shares of Frontdoor from $56.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group boosted their target price on shares of Frontdoor from $44.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday, August 6th. Truist Financial boosted their target price on shares of Frontdoor from $67.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd.

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.