Frontier Communications Corporation (FTR) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in shares of Frontier Communications Corporation (NASDAQ:FTR) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 148,084 shares of the utilities provider’s stock after selling 19,596 shares during the period. Canada Pension Plan Investment Board owned approximately 0.19% of Frontier Communications Corporation worth $1,746,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Frontier Communications Corporation by 9.9% during the second quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock valued at $135,488,000 after buying an additional 10,474,703 shares during the period. State Street Corp boosted its stake in Frontier Communications Corporation by 14.9% during the second quarter. State Street Corp now owns 49,574,081 shares of the utilities provider’s stock valued at $57,507,000 after buying an additional 6,445,036 shares during the period. First Trust Advisors LP boosted its stake in Frontier Communications Corporation by 101.4% during the second quarter. First Trust Advisors LP now owns 42,741,996 shares of the utilities provider’s stock valued at $49,581,000 after buying an additional 21,522,621 shares during the period. Bank of New York Mellon Corp boosted its stake in Frontier Communications Corporation by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 25,636,186 shares of the utilities provider’s stock valued at $29,738,000 after buying an additional 1,757,905 shares during the period. Finally, Gotham Asset Management LLC boosted its stake in Frontier Communications Corporation by 340.9% during the second quarter. Gotham Asset Management LLC now owns 19,776,306 shares of the utilities provider’s stock valued at $22,941,000 after buying an additional 15,290,477 shares during the period.

Several equities research analysts have issued reports on FTR shares. Hilliard Lyons lowered Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 9th. UBS AG reaffirmed a “neutral” rating and set a $15.00 price target on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Morgan Stanley dropped their price target on Frontier Communications Corporation to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 23rd. BidaskClub lowered Frontier Communications Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, September 16th. Finally, Gabelli lowered Frontier Communications Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. Frontier Communications Corporation presently has a consensus rating of “Hold” and a consensus price target of $10.04.

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Shares of Frontier Communications Corporation (NASDAQ:FTR) opened at $6.96 on Friday. Frontier Communications Corporation has a 52 week low of $6.25 and a 52 week high of $57.30. The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70.

Frontier Communications Corporation (NASDAQ:FTR) last announced its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.01. Frontier Communications Corporation had a negative return on equity of 1.97% and a negative net margin of 9.17%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the business earned ($0.64) EPS. Frontier Communications Corporation’s revenue was down 10.8% compared to the same quarter last year. equities analysts predict that Frontier Communications Corporation will post -4.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.40 dividend on an annualized basis and a yield of 34.48%. Frontier Communications Corporation’s dividend payout ratio is presently -17.38%.

About Frontier Communications Corporation

Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).

Institutional Ownership by Quarter for Frontier Communications Corporation (NASDAQ:FTR)

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