Vanguard Group Inc. Has $490.48 Million Position in Frontdoor Inc. $FTDR

Key Points

• Vanguard Group reduced its stake in Frontdoor by 2.1% in Q4, selling 179,725 shares and ending the period with 8,502,057 shares—about 11.79% of the company valued at $490.48 million.
• Frontdoor beat quarterly expectations with EPS of $0.73 versus $0.66 and revenue of $451.0 million (up 5.9% year-over-year), while reporting a 12.22% net margin and a 118.62% return on equity.
• Analyst sentiment is mixed-but-leaning-positive: MarketBeat shows an average rating of Moderate Buy and an average price target of $68.60, with individual targets ranging roughly from $67 to $80.

Vanguard Group Inc. lessened its position in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,502,057 shares of the company's stock after selling 179,725 shares during the period. Vanguard Group Inc. owned about 11.79% of Frontdoor worth $490,484,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Frontdoor by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 225,385 shares of the company's stock worth $15,166,000 after buying an additional 47,587 shares during the last quarter. Prana Capital Management LP bought a new position in Frontdoor during the third quarter worth $1,762,000. Public Sector Pension Investment Board boosted its position in Frontdoor by 11.7% during the third quarter. Public Sector Pension Investment Board now owns 316,564 shares of the company's stock worth $21,302,000 after purchasing an additional 33,261 shares during the period. Algert Global LLC increased its holdings in shares of Frontdoor by 24.5% in the third quarter. Algert Global LLC now owns 260,233 shares of the company's stock valued at $17,511,000 after purchasing an additional 51,214 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Frontdoor by 112.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 80,069 shares of the company's stock valued at $4,619,000 after purchasing an additional 42,462 shares during the period.

Frontdoor Trading Up 3.3%

FTDR stock opened at $65.93 on Wednesday. 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 company's 50-day simple moving average is $60.53 and its 200 day simple moving average is $58.68. Frontdoor Inc. has a 52 week low of $48.47 and a 52 week high of $70.77. The company has a market capitalization of $4.63 billion, a PE ratio of 18.89 and a beta of 1.55.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on FTDR shares. The Goldman Sachs Group upgraded shares of Frontdoor from a "sell" rating to a "neutral" rating and raised their target price for the stock from $50.00 to $67.00 in a research note on Monday, March 2nd. Benchmark started coverage on shares of Frontdoor in a report on Thursday, March 26th. They issued a "buy" rating and a $80.00 price target on the stock. Weiss Ratings upgraded shares of Frontdoor from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 22nd. Wall Street Zen cut Frontdoor from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Frontdoor in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $68.60.

About Frontdoor

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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