Reinhart Partners LLC. Reduces Stock Position in Frontdoor Inc. $FTDR

Reinhart Partners LLC. reduced its stake in Frontdoor Inc. (NASDAQ:FTDR) by 30.8% in the third quarter, Holdings Channel.com reports. The fund owned 1,296,596 shares of the company’s stock after selling 577,106 shares during the period. Frontdoor makes up approximately 2.8% of Reinhart Partners LLC.’s portfolio, making the stock its 14th biggest position. Reinhart Partners LLC.’s holdings in Frontdoor were worth $87,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC lifted its holdings in Frontdoor by 17.6% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 11,046 shares of the company’s stock worth $743,000 after purchasing an additional 1,657 shares in the last quarter. Meritage Portfolio Management increased its position in shares of Frontdoor by 8.8% during the third quarter. Meritage Portfolio Management now owns 21,745 shares of the company’s stock valued at $1,463,000 after buying an additional 1,759 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Frontdoor by 10.3% in the third quarter. TD Private Client Wealth LLC now owns 3,956 shares of the company’s stock worth $266,000 after buying an additional 368 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Frontdoor by 3.7% in the third quarter. Nordea Investment Management AB now owns 274,407 shares of the company’s stock valued at $18,293,000 after acquiring an additional 9,880 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Frontdoor by 15.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,848 shares of the company’s stock valued at $124,000 after acquiring an additional 251 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FTDR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a report on Monday, December 29th. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Zacks Research downgraded Frontdoor from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.75.

Frontdoor Stock Performance

Frontdoor stock opened at $59.78 on Friday. The firm’s fifty day moving average price is $55.31 and its 200-day moving average price is $59.76. The company has a debt-to-equity ratio of 3.64, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market cap of $4.31 billion, a P/E ratio of 17.03 and a beta of 1.31. Frontdoor Inc. has a fifty-two week low of $35.61 and a fifty-two week high of $70.14.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Wednesday, November 5th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.09. Frontdoor had a net margin of 12.87% and a return on equity of 122.74%. The company had revenue of $618.00 million during the quarter, compared to analyst estimates of $610.77 million. During the same period in the previous year, the business earned $1.38 earnings per share. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, equities research analysts expect that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

Frontdoor Profile

Frontdoor, Inc (NASDAQ:FTDR) is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.