State of New Jersey Common Pension Fund D Trims Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

State of New Jersey Common Pension Fund D decreased its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,852 shares of the company’s stock after selling 6,619 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Frontier Communications Parent were worth $2,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. grew its position in Frontier Communications Parent by 140.9% in the first quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock worth $103,000 after acquiring an additional 2,461 shares during the period. Vanguard Group Inc. grew its holdings in shares of Frontier Communications Parent by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after purchasing an additional 108,344 shares during the period. Capital International Investors increased its position in shares of Frontier Communications Parent by 0.5% during the 1st quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock worth $426,677,000 after purchasing an additional 92,944 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Frontier Communications Parent by 12.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after buying an additional 1,462,646 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Frontier Communications Parent by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 118,907 shares of the company’s stock valued at $2,914,000 after buying an additional 7,602 shares during the last quarter.

Frontier Communications Parent Trading Up 1.5 %

NASDAQ FYBR opened at $34.67 on Thursday. Frontier Communications Parent, Inc. has a 52 week low of $20.34 and a 52 week high of $39.21. The firm has a 50 day moving average of $35.50 and a two-hundred day moving average of $29.84. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $8.63 billion, a PE ratio of -46.23 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts expect that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FYBR shares. Citigroup downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Raymond James lowered Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. downgraded Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Wells Fargo & Company restated an “equal weight” rating and set a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Finally, Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.