First Citizens Bank & Trust Co. Makes New $801,000 Investment in Frontdoor Inc. $FTDR

Key Points

• First Citizens Bank & Trust Co. made a new investment of approximately $801,000 in Frontdoor Inc. by acquiring 13,588 shares during the second quarter.
• Several institutional investors, including Paralel Advisors LLC, also increased their stakes in Frontdoor, with notable investments totaling over $4 million from multiple firms in the same period.
• Frontdoor recently reported earnings that surpassed analysts' expectations, with an EPS of $1.63 and a revenue of $617 million, reflecting a 13.8% year-over-year increase.

First Citizens Bank & Trust Co. bought a new stake in Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,588 shares of the company's stock, valued at approximately $801,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Paralel Advisors LLC acquired a new position in shares of Frontdoor during the 2nd quarter worth about $4,099,000. Connors Investor Services Inc. acquired a new position in shares of Frontdoor during the second quarter valued at approximately $2,269,000. Ethic Inc. purchased a new position in shares of Frontdoor in the second quarter valued at approximately $222,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Frontdoor in the second quarter worth approximately $2,752,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Frontdoor in the second quarter worth approximately $1,118,000.

Insider Buying and Selling

In related news, SVP Jeffrey Fiarman sold 129,673 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $56.15, for a total value of $7,281,138.95. Following the completion of the transaction, the senior vice president directly owned 34,646 shares in the company, valued at approximately $1,945,372.90. This represents a 78.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.48% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Frontdoor from $44.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday, August 6th. Zacks Research cut shares of Frontdoor from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 10th. Oppenheimer raised their price target on shares of Frontdoor from $56.00 to $63.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Truist Financial upped their price objective 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, Weiss Ratings downgraded shares of Frontdoor from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Frontdoor presently has an average rating of "Hold" and an average target price of $59.75.

Frontdoor Trading Down 0.8%

Shares of FTDR opened at $68.83 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 4.56. Frontdoor Inc. has a 12-month low of $35.61 and a 12-month high of $70.14. The firm has a 50-day moving average price of $64.83 and a 200 day moving average price of $57.42. The firm has a market capitalization of $5.01 billion, a P/E ratio of 20.30 and a beta of 1.33.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.63 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 company had revenue of $617.00 million for the quarter, compared to the consensus estimate of $602.62 million. During the same period in the previous year, the firm earned $1.27 earnings per share. Frontdoor's quarterly revenue was up 13.8% compared to the same quarter last year. Frontdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts forecast that Frontdoor Inc. will post 3.07 EPS 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.

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