Northern Trust Corp Raises Stock Holdings in Frontdoor Inc. $FTDR

Key Points

• Northern Trust Corp increased its stake in Frontdoor Inc. by 3.2%, acquiring an additional 29,892 shares, bringing its total ownership to approximately 963,544 shares valued at $37 million.
• Multiple analysts have raised their price targets for Frontdoor, with Oppenheimer increasing its target from $56 to $63, suggesting a positive outlook for the company's stock performance.
• Frontdoor reported earnings of $1.63 per share for the last quarter, exceeding expectations and marking a 13.8% revenue increase year-over-year, with a net profit margin of 13.07%.

Northern Trust Corp raised its stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 963,544 shares of the company's stock after purchasing an additional 29,892 shares during the quarter. Northern Trust Corp owned approximately 1.31% of Frontdoor worth $37,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quantinno Capital Management LP grew its stake in shares of Frontdoor by 0.8% in the 4th quarter. Quantinno Capital Management LP now owns 24,212 shares of the company's stock worth $1,324,000 after buying an additional 183 shares during the last quarter. Mariner LLC increased its position in Frontdoor by 4.0% during the fourth quarter. Mariner LLC now owns 7,311 shares of the company's stock valued at $400,000 after acquiring an additional 284 shares during the last quarter. Xponance Inc. increased its holdings in Frontdoor by 5.0% during the first quarter. Xponance Inc. now owns 5,971 shares of the company's stock valued at $229,000 after buying an additional 285 shares during the last quarter. GAMMA Investing LLC raised its stake in Frontdoor by 16.5% during the 1st quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock worth $94,000 after acquiring an additional 347 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Frontdoor by 2.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 13,172 shares of the company's stock worth $492,000 after purchasing an additional 368 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FTDR. Zacks Research raised Frontdoor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 27th. Oppenheimer boosted their price objective on shares of Frontdoor from $56.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. The Goldman Sachs Group increased their target price on Frontdoor from $44.00 to $50.00 and gave the company a "sell" rating in a research report on Wednesday, August 6th. Finally, Truist Financial upped their price target on Frontdoor from $67.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.75.

Insider Activity

In related news, SVP Jeffrey Fiarman sold 129,673 shares of the business's stock in a transaction on Thursday, August 7th. The shares were 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 $1,945,372.90. The trade was a 78.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.48% of the stock is currently owned by corporate insiders.

Frontdoor Stock Performance

FTDR traded up $1.14 during midday trading on Thursday, hitting $63.29. 730,159 shares of the company were exchanged, compared to its average volume of 629,622. The company's 50 day simple moving average is $58.85 and its 200 day simple moving average is $51.54. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 18.67 and a beta of 1.34. Frontdoor Inc. has a 1-year low of $35.61 and a 1-year high of $64.91. 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 (NASDAQ:FTDR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.44 by $0.19. Frontdoor had a return on equity of 125.21% and a net margin of 13.07%.The firm had revenue of $617.00 million for the quarter, compared to analyst estimates of $602.62 million. During the same period last year, the company earned $1.27 earnings per share. Frontdoor's revenue for the quarter 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. As a group, sell-side analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current year.

Frontdoor Company 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.