State of New Jersey Common Pension Fund D Sells 12,784 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

State of New Jersey Common Pension Fund D lessened its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 23.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,907 shares of the company's stock after selling 12,784 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Frontdoor worth $1,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of Frontdoor by 440.4% during the second quarter. Millennium Management LLC now owns 908,904 shares of the company's stock worth $30,712,000 after purchasing an additional 740,711 shares during the period. Swedbank AB lifted its holdings in shares of Frontdoor by 112.7% in the second quarter. Swedbank AB now owns 1,210,600 shares of the company's stock valued at $40,906,000 after purchasing an additional 641,476 shares in the last quarter. Boston Partners boosted its position in shares of Frontdoor by 8.9% in the first quarter. Boston Partners now owns 6,198,543 shares of the company's stock worth $201,662,000 after buying an additional 506,217 shares during the period. Invenomic Capital Management LP grew its holdings in shares of Frontdoor by 57.3% during the first quarter. Invenomic Capital Management LP now owns 1,072,445 shares of the company's stock valued at $34,940,000 after buying an additional 390,610 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Frontdoor by 3.8% during the first quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company's stock valued at $331,636,000 after buying an additional 373,091 shares during the period.

Analyst Ratings Changes

Several equities analysts have weighed in on FTDR shares. The Goldman Sachs Group lifted their target price on Frontdoor from $41.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Frontdoor from $45.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. Truist Financial increased their target price on shares of Frontdoor from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, William Blair raised shares of Frontdoor from a "market perform" rating to an "outperform" rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $49.50.

Frontdoor Stock Down 1.1 %

NASDAQ:FTDR traded down $0.58 during mid-day trading on Monday, reaching $54.29. The stock had a trading volume of 338,258 shares, compared to its average volume of 718,615. The business's 50 day moving average is $50.60 and its 200 day moving average is $43.10. Frontdoor, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $58.86. The stock has a market cap of $4.12 billion, a P/E ratio of 17.98 and a beta of 1.03. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The business had revenue of $540.00 million for the quarter, compared to analyst estimates of $541.88 million. During the same quarter in the prior year, the firm posted $0.94 EPS. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Frontdoor, Inc. will post 3.14 earnings per share for the current year.

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.