Frontier Communications Parent, Inc. (NASDAQ:FYBR) Holdings Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 31.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 513,638 shares of the company’s stock after selling 232,906 shares during the period. Principal Financial Group Inc.’s holdings in Frontier Communications Parent were worth $18,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after purchasing an additional 1,587,145 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Frontier Communications Parent by 12.0% during 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 acquiring an additional 1,462,646 shares during the last quarter. Columbus Hill Capital Management L.P. boosted its stake in shares of Frontier Communications Parent by 345.7% during the 2nd quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company’s stock worth $11,670,000 after acquiring an additional 345,744 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Frontier Communications Parent by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 420,227 shares of the company’s stock worth $11,002,000 after acquiring an additional 139,215 shares during the last quarter. Finally, Affinity Wealth Management LLC acquired a new stake in shares of Frontier Communications Parent during the third quarter worth $4,060,000.

Frontier Communications Parent Stock Performance

Shares of FYBR opened at $34.75 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 12 month low of $20.41 and a 12 month high of $39.21. The company’s fifty day moving average is $35.49 and its 200-day moving average is $29.88. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of -46.33 and a beta of 1.10.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. TD Cowen cut Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Raymond James lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $35.00 to $38.50 in a research note on Tuesday, September 17th. Finally, BNP Paribas raised Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.31.

About Frontier Communications Parent

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.