Raymond James Financial Inc. Invests $17.47 Million in Frontdoor, Inc. (NASDAQ:FTDR)

Raymond James Financial Inc. purchased a new stake in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 319,463 shares of the company's stock, valued at approximately $17,465,000. Raymond James Financial Inc. owned about 0.42% of Frontdoor at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FTDR. Vanguard Group Inc. boosted its position in shares of Frontdoor by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 9,674,278 shares of the company's stock valued at $528,893,000 after acquiring an additional 78,134 shares during the last quarter. FIL Ltd increased its holdings in shares of Frontdoor by 8.3% in the 4th quarter. FIL Ltd now owns 2,410,561 shares of the company's stock worth $131,785,000 after buying an additional 184,051 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Frontdoor by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,127,553 shares of the company's stock valued at $116,336,000 after buying an additional 14,079 shares in the last quarter. Invesco Ltd. raised its position in shares of Frontdoor by 7.6% during the 4th quarter. Invesco Ltd. now owns 833,342 shares of the company's stock valued at $45,559,000 after buying an additional 59,025 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Frontdoor by 7.1% in the 4th quarter. Jupiter Asset Management Ltd. now owns 419,109 shares of the company's stock valued at $22,913,000 after acquiring an additional 27,610 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on FTDR. Truist Financial upped their price objective on Frontdoor from $58.00 to $67.00 and gave the company a "buy" rating in a research report on Friday, February 14th. The Goldman Sachs Group lowered their price target on Frontdoor from $46.00 to $40.00 and set a "sell" rating for the company in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered shares of Frontdoor from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $58.00 to $40.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $46.50.

Frontdoor Trading Up 0.8 %

Shares of NASDAQ:FTDR traded up $0.32 during trading hours on Friday, hitting $40.80. 115,513 shares of the company's stock traded hands, compared to its average volume of 732,538. The firm has a market capitalization of $3.04 billion, a P/E ratio of 13.52 and a beta of 1.19. The business has a fifty day moving average price of $41.92 and a 200-day moving average price of $51.17. Frontdoor, Inc. has a 1 year low of $30.31 and a 1 year high of $63.49. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42.

About Frontdoor

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.