Vanguard Group Inc. Purchases 136,350 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Vanguard Group Inc. boosted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,964,203 shares of the company’s stock after acquiring an additional 136,350 shares during the period. Vanguard Group Inc. owned 9.75% of Frontier Communications Parent worth $607,253,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new stake in Frontier Communications Parent in the third quarter worth about $157,000. Invesco Ltd. raised its position in shares of Frontier Communications Parent by 5.2% in the 3rd quarter. Invesco Ltd. now owns 783,171 shares of the company’s stock valued at $12,257,000 after purchasing an additional 38,791 shares during the last quarter. Algert Global LLC acquired a new stake in Frontier Communications Parent in the 3rd quarter worth approximately $651,000. PEAK6 Investments LLC grew its position in Frontier Communications Parent by 39.9% during the 3rd quarter. PEAK6 Investments LLC now owns 119,829 shares of the company’s stock worth $1,875,000 after purchasing an additional 34,152 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Frontier Communications Parent by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 107,519 shares of the company’s stock valued at $1,683,000 after purchasing an additional 550 shares in the last quarter.

Frontier Communications Parent Stock Up 1.8 %

Shares of FYBR opened at $25.36 on Monday. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 230.55 and a beta of 1.10. Frontier Communications Parent, Inc. has a 52 week low of $11.65 and a 52 week high of $27.41. The stock’s 50-day moving average price is $25.09 and its 200-day moving average price is $24.21. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.14.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FYBR. Bank of America started coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price objective on the stock. Citigroup increased their price objective on Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, TD Cowen decreased their target price on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating for the company in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.13.

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.