Meritage Portfolio Management Has $358,000 Position in Frontdoor, Inc. (NASDAQ:FTDR)

Meritage Portfolio Management boosted its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,165 shares of the company’s stock after buying an additional 537 shares during the period. Meritage Portfolio Management’s holdings in Frontdoor were worth $358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Frontdoor in the 3rd quarter valued at $822,000. Reinhart Partners LLC. boosted its stake in shares of Frontdoor by 11.0% in the 4th quarter. Reinhart Partners LLC. now owns 1,984,123 shares of the company’s stock valued at $69,881,000 after purchasing an additional 197,019 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Frontdoor by 500.6% in the 3rd quarter. Lazard Asset Management LLC now owns 45,158 shares of the company’s stock valued at $1,381,000 after purchasing an additional 37,639 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Frontdoor in the third quarter valued at about $88,000. Finally, FMR LLC raised its holdings in shares of Frontdoor by 0.3% in the third quarter. FMR LLC now owns 581,862 shares of the company’s stock valued at $17,799,000 after buying an additional 1,839 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their price target on Frontdoor from $40.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Frontdoor currently has a consensus rating of “Hold” and a consensus target price of $39.40.

Frontdoor Price Performance

Shares of Frontdoor stock traded up $0.48 during trading on Friday, reaching $31.17. The company’s stock had a trading volume of 455,073 shares, compared to its average volume of 722,725. The stock has a market capitalization of $2.43 billion, a P/E ratio of 14.48 and a beta of 0.89. Frontdoor, Inc. has a one year low of $26.09 and a one year high of $38.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.24. The stock has a 50-day moving average price of $31.39 and a two-hundred day moving average price of $32.73.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.18. The firm had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $360.47 million. Frontdoor had a return on equity of 142.80% and a net margin of 9.66%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts anticipate that Frontdoor, Inc. will post 2.36 EPS for the current fiscal year.

Frontdoor 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.