Glenmede Trust Co. NA Has $14.96 Million Position in Frontdoor Inc. $FTDR

Key Points

• Glenmede Trust reduced its Frontdoor stake by 8.1% in the first quarter, selling 25,089 shares and retaining 282,944 shares valued at approximately $14.96 million, or 0.40% of the company.
• Frontdoor reported quarterly earnings of $0.73 per share, exceeding estimates of $0.66, while revenue rose 5.9% year over year to $451 million.
• FTDR shares opened at $72.63, within a 52-week range of $48.47 to $80.73. Analysts maintain a “Moderate Buy” consensus with an average price target of $74.75.

Glenmede Trust Co. NA cut its stake in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 8.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 282,944 shares of the company's stock after selling 25,089 shares during the quarter. Glenmede Trust Co. NA owned 0.40% of Frontdoor worth $14,956,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FTDR. Swedbank AB raised its holdings in Frontdoor by 6.0% in the fourth quarter. Swedbank AB now owns 1,283,600 shares of the company's stock worth $74,051,000 after purchasing an additional 73,000 shares during the period. KBC Group NV boosted its position in shares of Frontdoor by 271.7% during the fourth quarter. KBC Group NV now owns 27,360 shares of the company's stock worth $1,578,000 after purchasing an additional 20,000 shares in the last quarter. Willis Investment Counsel grew its holdings in shares of Frontdoor by 40.5% in the 4th quarter. Willis Investment Counsel now owns 75,237 shares of the company's stock valued at $4,340,000 after buying an additional 21,704 shares during the period. SG Americas Securities LLC grew its holdings in shares of Frontdoor by 553.8% in the 4th quarter. SG Americas Securities LLC now owns 21,287 shares of the company's stock valued at $1,228,000 after buying an additional 18,031 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Frontdoor in the 1st quarter valued at $1,793,000.

Frontdoor Price Performance

NASDAQ FTDR opened at $72.63 on Monday. The company has a debt-to-equity ratio of 4.95, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 20.81 and a beta of 1.46. The business has a 50 day simple moving average of $70.99 and a 200 day simple moving average of $63.99. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $80.73.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.07. The firm had revenue of $451.00 million for the quarter, compared to analyst estimates of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The business's revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Analysts anticipate that Frontdoor Inc. will post 4.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on FTDR shares. Weiss Ratings downgraded Frontdoor from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 21st. Truist Financial set a $82.00 target price on Frontdoor in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

Frontdoor Company Profile

Frontdoor, Inc NASDAQ: FTDR is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.

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