Lazard Asset Management LLC Grows Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

Lazard Asset Management LLC grew its stake in Frontdoor, Inc. (NASDAQ:FTDR) by 363.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 220,044 shares of the company’s stock after acquiring an additional 172,577 shares during the period. Lazard Asset Management LLC’s holdings in Frontdoor were worth $12,028,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Frontdoor by 0.8% in 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 period. FIL Ltd grew its holdings in shares of Frontdoor by 8.3% in the fourth quarter. FIL Ltd now owns 2,410,561 shares of the company’s stock valued at $131,785,000 after purchasing an additional 184,051 shares in the last quarter. Geode Capital Management LLC increased its stake in Frontdoor by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,127,553 shares of the company’s stock worth $116,336,000 after buying an additional 14,079 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Frontdoor by 6.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,067,575 shares of the company’s stock worth $113,034,000 after buying an additional 122,981 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Frontdoor by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,791,666 shares of the company’s stock worth $97,952,000 after buying an additional 10,192 shares during the period.

Frontdoor Price Performance

Shares of FTDR opened at $54.27 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. Frontdoor, Inc. has a fifty-two week low of $32.95 and a fifty-two week high of $63.49. The company has a market cap of $3.99 billion, a P/E ratio of 17.97 and a beta of 1.21. The firm’s 50 day moving average price is $41.41 and its 200 day moving average price is $51.05.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.37 by $0.27. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The company had revenue of $426.00 million during the quarter, compared to analysts’ expectations of $416.37 million. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. On average, research analysts forecast that Frontdoor, Inc. will post 3.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FTDR has been the topic of several recent research reports. Truist Financial upped their target price on shares of Frontdoor from $58.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. downgraded shares of Frontdoor from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $58.00 to $40.00 in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group cut their target price on shares of Frontdoor from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Monday, March 3rd.

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.