Nuveen Asset Management LLC Cuts Stock Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

Nuveen Asset Management LLC lowered its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 844,380 shares of the company’s stock after selling 79,806 shares during the period. Nuveen Asset Management LLC owned approximately 1.11% of Frontdoor worth $46,162,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Wasatch Advisors LP purchased a new position in shares of Frontdoor in the 4th quarter valued at $56,507,000. Price T Rowe Associates Inc. MD raised its stake in shares of Frontdoor by 621.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 881,083 shares of the company’s stock valued at $48,169,000 after acquiring an additional 758,947 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Frontdoor in the 4th quarter valued at $17,465,000. Norges Bank purchased a new position in shares of Frontdoor in the 4th quarter valued at $14,358,000. Finally, Janus Henderson Group PLC raised its stake in shares of Frontdoor by 275.6% in the 4th quarter. Janus Henderson Group PLC now owns 340,094 shares of the company’s stock valued at $18,605,000 after acquiring an additional 249,552 shares during the period.

Frontdoor Trading Down 0.0%

NASDAQ:FTDR opened at $55.28 on Tuesday. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 18.30 and a beta of 1.21. Frontdoor, Inc. has a one year low of $32.95 and a one year high of $63.49. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50-day simple moving average is $42.71 and its 200 day simple moving average is $51.20.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Thursday, May 1st. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.27. The company had revenue of $426.00 million for the quarter, compared to analyst estimates of $416.37 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. Frontdoor’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. As a group, sell-side analysts predict that Frontdoor, Inc. will post 3.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Frontdoor from an “overweight” rating to a “neutral” rating and cut their target price for the company from $58.00 to $40.00 in a research note on Tuesday, April 22nd. Truist Financial raised their target price on shares of Frontdoor from $58.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, February 14th. 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.

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.