Nordea Investment Management AB Has $18.29 Million Holdings in Frontdoor Inc. $FTDR

Nordea Investment Management AB lifted its stake in shares of Frontdoor Inc. (NASDAQ:FTDR) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 274,407 shares of the company’s stock after purchasing an additional 9,880 shares during the period. Nordea Investment Management AB owned approximately 0.38% of Frontdoor worth $18,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ethic Inc. acquired a new stake in shares of Frontdoor in the 2nd quarter valued at $222,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Frontdoor during the second quarter valued at $348,000. RiverGlades Family Offices LLC bought a new position in Frontdoor in the second quarter valued at about $236,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Frontdoor in the second quarter worth about $247,000. Finally, Creative Planning raised its holdings in Frontdoor by 53.4% during the 2nd quarter. Creative Planning now owns 35,806 shares of the company’s stock worth $2,110,000 after purchasing an additional 12,457 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Frontdoor Stock Performance

Shares of NASDAQ:FTDR opened at $60.70 on Friday. The firm’s 50 day simple moving average is $55.12 and its 200 day simple moving average is $59.76. Frontdoor Inc. has a fifty-two week low of $35.61 and a fifty-two week high of $70.14. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 17.29 and a beta of 1.31. The company has a debt-to-equity ratio of 3.64, a current ratio of 1.73 and a quick ratio of 1.73.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. Frontdoor had a net margin of 12.87% and a return on equity of 122.74%. The firm had revenue of $618.00 million during the quarter, compared to analysts’ expectations of $610.77 million. During the same quarter in the previous year, the company earned $1.38 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts forecast that Frontdoor Inc. will post 3.07 earnings per share for the current year.

About Frontdoor

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.