NJ Common Pension Fund D Decreases Stake in Frontdoor by 15.8% in Q1
July 26, 2023
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Frontdoor ($NASDAQ:FTDR), Inc. is a leading home services and connected home solutions provider in the United States. It is worth noting that the State of New Jersey’s Common Pension Fund D was among the most significant investors in Frontdoor, Inc., owning 15.8% of the company’s shares prior to the decrease. This marks a substantial decrease for the pension fund as it reduced its stake in the home services provider by nearly a fifth. It is unclear what motivated the pension fund’s decision as no further comments were made in regard to Frontdoor, Inc. Investors should carefully consider this decision and analyze the market and all available information before making any decisions on investments in Frontdoor, Inc.
Analysis
At GoodWhale, we recently conducted an analysis of FRONTDOOR’s wellbeing. Our findings suggest that FRONTDOOR is a medium risk investment in terms of both financial and business aspects. Our Risk Rating for FRONTDOOR was calculated based on income sheet and balance sheet assessments. During our analysis, we also uncovered two specific risk warnings. To view these warnings in greater detail, you’ll need to register with us. We invite you to join GoodWhale and discover more about FRONTDOOR’s current situation and how it might affect your investments. Frontdoor_by_15.8_in_Q1″>More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Frontdoor. More…
| Total Revenues | Net Income | Net Margin |
| 1.68k | 91 | 7.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Frontdoor. More…
| Operations | Investing | Financing |
| 155 | -35 | -37 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Frontdoor. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.13k | 1.04k | 1.02 |
Key Ratios Snapshot
Some of the financial key ratios for Frontdoor are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.5% | -11.9% | 9.1% |
| FCF Margin | ROE | ROA |
| 6.9% | 132.8% | 8.5% |
Peers
Its competitors are E-Home Household Service Holdings Ltd, Buck Hill Falls Co, and Carriage Services Inc.
– E-Home Household Service Holdings Ltd ($NASDAQ:EJH)
E-Home Household Service Holdings Ltd is a provider of home healthcare services in China. The company offers a range of services, including nursing care, rehabilitation therapy, and health management. It also provides home-based services, such as home visits, home health education, and health assessment. The company operates in two segments: Home Healthcare Services and Health Management. It has a network of service outlets in Beijing, Shanghai, Guangzhou, and Shenzhen.
– Buck Hill Falls Co ($OTCPK:BUHF)
Carriage Services Inc is a publicly traded company that provides funeral and cemetery services. The company has a market capitalization of $353.16 million as of 2022 and a return on equity of 43.04%. Carriage Services Inc operates through two segments: Funeral and Cemetery Services. The Funeral segment provides funeral services, cremation services, and merchandise sales. The Cemetery segment provides cemetery property sales, interment services, and other related services.
Summary
Frontdoor, Inc., a leading provider of home service plans, saw a decrease in its ownership stake held by the State of New Jersey Common Pension Fund D in the first quarter. Specifically, the pension fund decreased its position by 15.8%. This could be an indication that the fund believes that Frontdoor’s stock has become overvalued, or that the fund is seeking to diversify its holdings by investing in other stocks. Investors should monitor Frontdoor’s stock performance closely and consider whether it may be time to consider other investments.
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