Frontdoor Inc. $FTDR Shares Sold by Reinhart Partners LLC.

Key Points

• Reinhart Partners cut its Frontdoor stake by 11% in the third quarter, selling 185,204 shares and retaining 1.50 million shares worth approximately $109.6 million.
• Frontdoor reported quarterly EPS of $1.93, exceeding estimates of $1.76, while revenue rose 4.5% year over year to $645 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $92.60; shares recently traded at $79.80, up 0.3%.

Reinhart Partners LLC. reduced its stake in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 11.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,498,861 shares of the company's stock after selling 185,204 shares during the quarter. Frontdoor makes up approximately 2.7% of Reinhart Partners LLC.'s investment portfolio, making the stock its 12th largest position. Reinhart Partners LLC. owned about 2.18% of Frontdoor worth $109,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Frontdoor during the 2nd quarter valued at about $859,552,000. Boston Partners increased its position in Frontdoor by 8.5% during the fourth quarter. Boston Partners now owns 5,777,252 shares of the company's stock worth $333,742,000 after purchasing an additional 454,040 shares during the last quarter. Renaissance Technologies LLC raised its stake in Frontdoor by 1.3% during the first quarter. Renaissance Technologies LLC now owns 1,849,787 shares of the company's stock worth $97,780,000 after purchasing an additional 23,800 shares during the period. Jupiter Topco LLC purchased a new position in Frontdoor during the second quarter worth about $113,873,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Frontdoor by 0.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,461,003 shares of the company's stock valued at $77,229,000 after purchasing an additional 7,145 shares during the last quarter.

Frontdoor Trading Up 0.3%

Shares of FTDR stock opened at $79.80 on Friday. Frontdoor Inc. has a 1-year low of $48.47 and a 1-year high of $93.43. The firm has a market cap of $5.50 billion, a PE ratio of 21.17 and a beta of 1.53. The company has a 50-day moving average of $80.31 and a two-hundred day moving average of $70.98. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.59 and a quick ratio of 1.59.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.76 by $0.17. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The firm had revenue of $645.00 million for the quarter, compared to analyst estimates of $643.40 million. During the same period in the prior year, the business posted $1.63 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts predict that Frontdoor Inc. will post 4.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Frontdoor from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. JPMorgan Chase & Co. started coverage on Frontdoor in a report on Monday, August 24th. They issued a "neutral" rating and a $95.00 price objective on the stock. Wolfe Research upgraded Frontdoor to an "outperform" rating in a research report on Monday, August 24th. Truist Financial raised their target price on Frontdoor from $82.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Benchmark lifted their target price on Frontdoor from $80.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.60.

About Frontdoor

Frontdoor, Inc NASDAQ: FTDR is a provider of home warranty and home services in the United States. The company helps homeowners manage the cost and inconvenience of repairing or replacing covered home systems and appliances by connecting them with qualified service professionals.

Frontdoor's portfolio includes American Home Shield, a major home warranty brand, along with 2-10 Home Buyers Warranty, HSA Home Warranty and Landmark Home Warranty. Its services generally cover items such as heating and cooling systems, electrical and plumbing systems, kitchen appliances and other household equipment, subject to the terms of individual contracts.

In addition to warranty plans, Frontdoor operates home services offerings that support homeowners, real estate professionals, contractors and service providers.

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