Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 31.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 513,638 shares of the company's stock after selling 232,906 shares during the quarter. Principal Financial Group Inc. owned about 0.21% of Frontier Communications Parent worth $18,250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Frontier Communications Parent by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company's stock valued at $211,758,000 after buying an additional 1,587,145 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Frontier Communications Parent by 12.0% in the first quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company's stock valued at $335,257,000 after purchasing an additional 1,462,646 shares during the last quarter. Columbus Hill Capital Management L.P. grew its position in Frontier Communications Parent by 345.7% during the 2nd quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company's stock worth $11,670,000 after purchasing an additional 345,744 shares during the period. Marshall Wace LLP lifted its holdings in shares of Frontier Communications Parent by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 420,227 shares of the company's stock valued at $11,002,000 after buying an additional 139,215 shares during the period. Finally, Affinity Wealth Management LLC purchased a new stake in shares of Frontier Communications Parent in the third quarter worth about $4,060,000.

Analysts Set New Price Targets

A number of research firms have recently commented on FYBR. UBS Group cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 6th. TD Cowen downgraded shares of Frontier Communications Parent from a "buy" rating to a "hold" rating and decreased their price objective for the company from $39.00 to $38.50 in a report on Tuesday, October 8th. Raymond James cut shares of Frontier Communications Parent from a "strong-buy" rating to a "market perform" rating in a research note on Monday, October 28th. Moffett Nathanson cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 5th. Finally, BNP Paribas raised Frontier Communications Parent to a "hold" rating in a report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Frontier Communications Parent currently has a consensus rating of "Hold" and an average target price of $35.31.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock traded up $0.08 during trading hours on Friday, reaching $34.83. 2,389,552 shares of the stock were exchanged, compared to its average volume of 2,242,330. The firm's 50 day moving average is $35.49 and its 200 day moving average is $29.88. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $8.67 billion, a P/E ratio of -46.47 and a beta of 1.10. Frontier Communications Parent, Inc. has a 52-week low of $20.42 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period last year, the firm earned $0.05 EPS. Frontier Communications Parent's revenue was up 3.7% compared to the same quarter last year. Analysts predict that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal year.

About Frontier Communications Parent

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.